View this in your browser. Hello, Thanks for your interest in our latest research. You can view a summary of our latest report below. Capex forecast check, 3Q23: Telco spending slips This comment provides an early review of 3Q23 market growth and spending metrics for the telecommunications operator (telco) market. MTN Consulting’s latest forecast called for $320B of telco capex in 2023, down only slightly from the $328B recorded in 2022. Early 3Q23 revenue reports from vendors selling into the telco market call this forecast into question. The dip in the Americas is worse than expected, and Asia’s expected 2023 growth has not materialized. Key vendors are reporting significant YoY drops in revenue, pointing to inventory corrections, macroeconomic uncertainty (interest rates, in particular), and weaker telco spending. Network infrastructure sales to telcos (Telco NI) for key vendors Ericsson and Nokia dropped 11% and 16% YoY in 3Q23, respectively, measured in US dollars. By the same metric, NEC, Fujitsu and Samsung saw... Read more To see our most recently published reports, click here Best regards, Matt Walker Chief Analyst If you'd rather not receive future emails from MTN Consulting, unsubscribe by clicking the link below. Unsubscribe | Manage your subscription