<p>➀ The telecom equipment industry experienced its biggest decline in 20 years with a 14% drop in total equipment revenue in 2024; </p><p>➁ The decline was driven by factors such as excess inventory, challenging macro environment, and difficult 5G comparisons; </p><p>➂ Despite the decline, Huawei and Ericsson saw improvements in their positions in the global market.</p>