Multinational telecommunications giant Nokia (NOK) revealed that it has been chosen by its long-standing partner A1 Telekom Austria Group (A1) to expand its 5G footprint in Bulgaria, Serbia, and Slovenia.
Per terms of the deal, Nokia will offer 5G RAN solutions from its comprehensive AirScale portfolio to all three countries and also provide a 5G Standalone core network to Serbia and Slovenia. (See Nokia stock charts on TipRanks)
The introduction of Nokia’s equipment from its AirScale portfolio that includes 5G RAN and other Nokia AirScale radio access products will lead to enhanced speed and connectivity, reduced costs, and the unlocking of crucial capabilities with greater scale and reliability for the subscribers.
Nokia plans to expand coverage to all major populated communities and main roads within the next 5 years.
Currently, Nokia is offering comprehensive 5G coverage throughout Austria. Also, Nokia has teamed with A1 in the past to introduce 3G and 4G mobile networks and Austria’s largest fiber-optic network.
President of Mobile Networks at Nokia, Tommi Uitto, commented, “We are delighted to have been selected by A1 Telekom Austria Group to support their rollout of our AirScale 5G RAN and core technology across Bulgaria, Serbia and Slovenia.”
He further added, “They continue to place their trust in our technology and are committed to delivering best-in-class services to their subscribers around the world. We look forward to working collaboratively with them moving forward.”
Following the company’s robust earnings results, J.P. Morgan analyst Sandeep Deshpande recently reiterated a Buy rating on the stock.
Deshpande commented, “We don’t see any reason why 2Q ’21 is not a similar milestone for Nokia.”
Overall, the stock has a Strong Buy consensus rating based on 10 Buys and 3 Holds. The average Nokia price target of $7.03 implies 19.2% upside potential from current levels.
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