HFCL Limited, a leading communications product and solutions provider, recently won a Rs 623 crore worth of order from an Indian telecom service provider to provide indigenous 5G networking equipment. HFCL has bagged the first such large order for 5G equipment placed on an Indian company by any telecom service provider (TSP). The company has been investing in building its end-to-end portfolio of 5G networking equipment. In 2023, HFCL announced 5G FWA (Fixed Wireless Access) CPE (Consumer Premises Equipment).
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The name of the TSP that awarded the order has not been mentioned. The kind of 5G equipment that has to be provided is also unknown. However, the fact that indigenous 5G equipment is being ordered by a TSP is a boost and acknowledgement of the fact that the Indian tech manufacturing ecosystem is getting better day by day.
HFCL said that its 5G equipment has enormous export potential. The products developed by HFCL also add to the 'Make in India' initiative by the central government. India has witnessed a fast-paced 5G rollout and this presents an opportunity for local companies like HFCL to prove their mettle and contribute to the network infrastructure.
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"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," said Mahendra Nahata, Managing Director of HFCL.
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 Future Market Insights.
