Nokia on Thursday beat expectations for quarterly operating profit and projected sales growth for 2023 as the Finnish telecommunications equipment maker said it was able to gain market share by benefiting from the introduction of 5G in countries such as India.

Nokia shares rose 5.8 percent in Helsinki.

Nokia expects another year of growth in 2023, in stark contrast to its main competitor Ericsson.

Ericsson reported lower-than-expected core revenues for the fourth quarter and said it expects margins in its Networks business to remain down in the first half of 2023, citing weak sales of 5G equipment in markets such as the U.S.

He added that Nokia has also been able to diversify its customer base from network service providers to industrial customers who are building their private 5G networks in power plants, utilities and mines.

Nokia’s comparable fourth-quarter operating profit rose to 1.15 billion euros ($1.26 billion) from 908 million euros last year, beating the average forecast of 10 analysts surveyed of 924.6 million euros.

Nokia is forecasting full-year net sales of €24.9 billion to €26.5 billion, implying growth of 2% to 8% in constant currency.

Net sales rose 16% to €7.45 billion, exceeding forecasts of €7.11 billion.

In addition to growing demand from business customers, the company also won major contracts from Indian telecom operators to launch 5G in that country.