Finland-based telecom giant Nokia (NYSE:NOK) has bagged a multi-year deal with India’s leading mobile operator Reliance to supply 5G Radio Access Network (RAN) equipment. Nokia’s President and CEO, Pekka Lundmark, called the deal “a significant win for Nokia in an important market.”
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With this deal, Nokia is now supplying its hardware to India’s three largest mobile operators. NOK stock was up 2.7% in Monday’s pre-market trading.
Under the agreement, Nokia will be supplying equipment, like base stations, high-capacity 5G Massive MIMO (multiple input, multiple output) antennas, and Remote Radio Heads (RRH) from its AirScale portfolio. The company’s equipment will support different spectrum bands and self-organizing network software, thus enabling Reliance Jio to provide advanced 5G services in India.
In a separate announcement, Nokia stated that it will debut its new Lightspan MF-14 platform, the world’s first Generation 6 broadband platform, at the Network X event in Amsterdam to be held from October 18 to 20, 2022.
As per the company, the new platform, which is currently in trials with operators across the globe, will enable the convergence of all services over a single fiber infrastructure. Nokia is planning deployments of the Lightspan MF-14 platform before the end of this year.
Is NOK a Buy or Sell?
On TipRanks, Nokia stock has a Strong Buy consensus rating based on six Buys and two Holds. The average Nokia stock price prediction of $6.25 implies 40.5% upside potential from current levels. NOK stock has declined 28.5% year-to-date.
