Finnish broadband technology firm Teleste has reported a decline in net sales for the second quarter, citing low demand from European networks. The company’s net sales decreased by 26.3% to €29.5 million, but the outlook for the full year remains “overshadowed by uncertainty in the European network operator markets and related low market demand”, according to President & CEO Esa Harju. Job losses and efficiency savings have been able to compensate for the lack of demand in Europe, which is not expected to recover in 2024.
However, there is a glimmer of hope for Teleste in the form of increased deliveries in North America. The company has seen commercial delivery volumes of the 1.8GHz ICON smart amplifiers in North America start to increase, partially compensating for the low demand in Europe. While North America’s share of the total Broadband Networks business volume in 2024 is still moderate, it is expected to gradually increase.