Nokia Corporation (ADR) (NOK) Wins Important Contract

Nokia Corporation (ADR) (NOK) Wins Important Contract
<a href="">Hermann</a> / 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.

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Notably, last week, NSN announced six developments in its Single RAN Advanced portfolio. The new product suite will enable significant cost cutting on the part of wireless carriers through fewer boxes, less cabling, faster installation, simpler operations, higher scalability and more efficient use of spectrum.

Last Month, VimpelCom Ltd. (VIP), the third largest telecom operator in Russia, selected NSN to provide equipment and services for its 4G LTE network deployment.

In Dec 2013, NSN renewed its contract withthe largest Taiwanese telecom operator, Chunghwa Telecom Co. Ltd. (CHT) to supply infrastructure for the carrier’s HSPA+ network capacity expansion. Chunghwa intends to offer LTE services from mid-2014 and has selected NSN as its major vendor.

Recently, Germany’s Manager Magazine Online reported that NSN is exploring strategic options to acquire network infrastructure maker, Juniper Networks Inc. (JNPR). However, neither Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) nor Juniper has confirmed this news. Currently, Nokia carries a Zacks Rank #2 (Buy).

CHUNGHWA TELECM (CHT): Free Stock Analysis Report

JUNIPER NETWRKS (JNPR): Free Stock Analysis Report

Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V): Free Stock Analysis Report

VIMPELCOM LTD (VIP): Free Stock Analysis Report

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Nokia Corporation (ADR) (NYSE:NOK)

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