HFCL Limited, a technology enterprise and integrated next-gen communications product and solution provider in India, has landed a purchase order for INR 623 crores for the supply of its indigenously manufactured 5G networking equipment.
This marks a significant milestone as HFCL becomes the first Indian firm to secure such a large order for 5G networking gear from a telecom service provider, evidencing the standout vision and design prowess HFCL has exhibited within the high tech telecom equipment space in India.
This strategic win also bolsters the company's commitment to delivering cutting-edge solutions optimally customised to address the diverse needs of the evolving telecom landscape. Furthermore, it advances the nation's "Make in India for a Global Stage" vision, with significant export market potential eyed for these indigenously engineered products. In line with this strategy, HFCL is ideally situated to boost its revenue significantly, enhance profitability, and thereby enhance returns for its investors.
Mahendra Nahata, HFCL’s Managing Director, shared his insights on the company’s exciting journey. He declared, “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.”
As per industry estimates, the global 5G last-mile equipment market is set to soar up to USD 68 billion by 2030. This development is expected to play a pivotal role in the worldwide upswing in demand for 5G technology, which augurs an exceptional CAGR of 48.3%, as projected by a report from Future Market Insights.
This is especially worth noting given that HFCL has intently been investing in its end-to-end portfolio for 5G networking equipment that significantly transforms telecom firms' access, transport and last-mile networking needs.
India is currently witnessing the world's fastest 5G rollout and consequently, the market for 5G equipment remains robust in the country. HFCL, with its keen focus on innovation and robust customer relationships, emerges as a leader adept at capitalising on these blossoming market opportunities both domestically and abroad.
The company's offerings not only fulfil current demands but also contribute to the larger aim of India's push for technological leadership. With its high emphasis on quality, innovation, and an unyielding commitment to the 'Make in India' approach, HFCL sets out to consolidate its strong foothold in the global 5G landscape.