Nokia Corporation (ADR) (NOK) Wins Important Contract

Nokia Corporation (ADR) (NOK) Wins Important Contract
Hermann / Pixabay

The Financial Times recently reported that Nokia Corporation (ADR) (NYSE:NOK)’s wholly-owned subsidiary, Nokia Solutions and Networks (“NSN”), received a major 4G LTE network upgrade contract from EE, a leading U.K.-based wireless operator. The multi-year antenna and network security contract is valued at £250 million (approximately $416 million).

This is not the first deal between NSN and EE. NSN is already modernizing the 2G network of EE to enhance performance and energy efficiency by reducing power consumption. Interestingly, for the recent LTE deal, EE chose NSN over its long-term LTE vendor Huawei Technologies, the low-cost Chinese firm. Huawei and NSN are fierce competitors in the global telecom network infrastructure solutions provider’s market.

Nokia Corporation NOK

Per the EE’s LTE contract, NSN will implement its Single radio access network (RAN) Advanced solutions which will enable the mobile operator to install different network standard (radio technologies) on a shared multi-purpose hardware.

Massif Capital’s Top Short Bets In The Real Asset Space [Exclisuve]