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Nokia wins ‘multi-billion’ dollar deal in India
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HELSINKI (Reuters) – Finnish telecom equipment supplier Nokia on Wednesday said it had won a “multi-billion” dollar deal with India’s
HELSINKI (Reuters) – Finnish telecom equipment supplier Nokia on Wednesday said it had won a “multi-billion” dollar deal with India’s Bharti Airtel for delivery of 4G and 5G equipment.
Sources familiar with the talks told Reuters last month Nokia and Bharti were nearing a deal worth several billion dollars to expand Bharti’s network in India.
Nokia’s Swedish rival Ericsson had already won a deal of similar size with Bharti earlier in October.
India last year helped Nokia and Ericsson offset weakness in demand from U.S. customers. However, the volume of orders from India slowed down significantly after a growth spurt last year.
Nokia’s share price rose 3.1% by 0829 GMT.
(Reporting by Essi Lehto, editing by Terje Solsvik)
4G is the fourth generation of mobile telecommunications technology, offering faster data speeds and improved connectivity compared to previous generations.
5G is the fifth generation of mobile telecommunications technology, providing significantly higher speeds, lower latency, and the ability to connect more devices simultaneously.
Network expansion involves increasing the capacity or coverage of a telecommunications network, often through the installation of new equipment or technology.
A share price is the current price at which a company's stock is bought or sold in the market, reflecting the company's overall value and investor sentiment.
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