Bangalore: The revenues of the Indian telecom equipment industry plunged by 2.52 percent to Rs 1,17,039 crore in 2010-11 from Rs 1,20,069 crore in the previous fiscal, according to an annual survey by a telecom industry journal.

The survey covered over 500 telecom equipment companies in India, including carrier equipment, enterprise communication equipment and user device manufacturers.

Close to half the telecom equipment revenue came from carrier equipment manufacturers, which saw a 12.12 percent dip in earnings to Rs 58,294 crore during the year, according to the survey 'V&D 100' by 'Voice&Data' journal.

In 2009-10, the segment registered revenue of Rs 66,332 crore, it said.

The enterprise equipment vertical grew by 0.87 percent to report revenues of Rs 24,023 crore for the same period, compared to Rs 23,815 crore in 2009-10.

The user device segment, which includes mobile handsets, fixed phones, datacards and tablets, contributed more than one-third to the total telecom equipment industry's revenues at Rs 34,722 crore, a growth of 16.04 per cent.

Mobile handset maker Nokia had the highest revenue during the year, followed by telecom network equipment majors Cisco, Nokia Siemens Networks, Ericsson and software firm Wipro. The other players in the top 10 were Samsung, Huawei, Tech Mahindra, TCS and ZTE.