Bangalore, January 20, 2024: HFCL Limited (HFCL), India’s leading technology enterprise and integrated next-gen communications product and solution provider, has secured a purchase order of INR 623 crores for the supply of indigenously manufactured 5G networking equipment. This is first such large order for 5G networking equipment placed on any Indian company by any telecom service provider. This strategic win is a testament to HFCL’s vision of designing and manufacturing high technology telecom equipment in India.
HFCL has been investing in building its end-to-end portfolio of 5G networking equipment which transforms telcos’ access, transport and last-mile networking requirements.
As per industry estimates, the global 5G last-mile equipment market is projected to reach USD 68 billion by 2030. This transformation is set to play a significant role in the global surge in 5G technology demand, projected to witness a remarkable CAGR of 48.3%, as per a recent report from the Future Market Insights.
The newly secured purchase order underscores HFCL’s commitment to providing cutting-edge solutions tailored to the unique needs of the telecom landscape. Moreover, with enormous export market potential, these indigenously developed products are in line with the country’s “Make in India for a Global Stage” vision. HFCL with its strategy is rightly positioned to not only bolster revenue but also enhance profitability leading to increased returns for the shareholders.
Mr. Mahendra Nahata, Managing Director of HFCL, stated, “With India being at the forefront of 5G rollout and technological evolution, HFCL remains steadfast on the path of innovation and progress. Our recent order wins are clearly a testament that our strategy of moving from projects to margin accretive products, launching new products, reaching out to new customers and new geographies is paying off well and will bolster our position even further in 2024.”
India has seen the fastest 5G rollout in the world and the market for 5G equipment remains strong in India. With its focus on innovation and strong customer relationships, HFCL is amongst the top few players well poised to cease these emerging market opportunities in India and abroad. HFCL’s products not only meet the current demands but also contribute to India’s broader vision for technological leadership. With a strong emphasis on quality, innovation and a commitment to a ‘Make in India’ approach, HFCL is well-placed to strengthen its prowess in the global 5G landscape.
