<p>➀ Q1 2025 Mobile Core Network (MCN) market surged 32% YoY, led by China's 122% growth and 12% growth in non-China regions.</p><p>➀ Growth drivers include 5G Standalone (SA) network expansion, replacement of VNFs with CNFs, and subscriber migration from 4G to 5G, with ZTE benefiting from major projects in China.</p><p>➂ Dell’Oro forecasts 5G MCN market growth of 15% YoY in 2025, with Huawei, ZTE, Ericsson, and Nokia leading vendor rankings globally and regionally.</p>