Latin America was the fastest-growing region for Nokia in Q3, with 20% year-on-year net sales growth in constant currency to 334mn euros (US$327mn), figures just disclosed show. 

The increase was primarily due to the mobile networks and network infrastructure segments, particularly fixed networks, the Finnish provider said.

Latin America was also the best-performing geography year-to-September, with 27% growth in sales to 835mn euros.

Globally, the company said it added 30 new private network customers in Q3, to total 515.

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Swedish rival Ericsson reported 6% sales growth for its combined market region of Europe & Latin America in Q3 to 15.5bn kronor (US$1.37bn).

The combined region accounted for 22% of Ericsson’s total global sales in the period, according to its latest quarterly report. Year-to-September, Europe & Latin America sales were 45.9bn kronor, up 12% year-over-year and second only to North America. 

Ericsson does not break down results for Latin America specifically.

Without detailing the number of projects, the company also said that it almost doubled sales of enterprise wireless solutions (private networks) in Q3 year-over-year.

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Dealmaking declined 10% by volume and 38% by disclosed value in Latin America in the first nine months of the year, compared with the same period 2021, according to the latest report on the region published by Transactional Track Record (TTR).

The region saw a total of 2,455 transactions year-to-September, including M&As, private equity, venture capital and asset acquisition transactions, shows TTR data, compiled with Dataxis and AON. Of the deals, 1,287 were M&As, 791 venture capital, 249 asset acquisition and 129 private equity.

Brazil led the region in number of deals year-to-date, according to the report, followed by Mexico and then Chile. Colombia ranked fourth, followed by Argentina and, lastly, Peru, of the top six M&A markets regionally.

Source: Business News Americas / BN Americas - Chile