Nokia (NOK) & Eastlink Join Forces to Upgrade 5G Network

Nokia (NOK) & Eastlink Join Forces to Upgrade 5G Network

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Nokia Corporation (NOK Free Report) inked a multiyear agreement with Eastlink, a prominent communication service provider in Canada. With cutting-edge fiber optic and mobile networks at its disposal, Eastlink aims to leverage Nokia’s AirScale portfolio to extend its coverage area. In this endeavor, Nokia will play a crucial role in bolstering a significant segment of Eastlink’s mobile radio access network infrastructure.

5G technology has brought about significant advancements across diverse sectors like healthcare, autonomous vehicles, financial services and facilitating remote work and learning. Advancement of 5G infrastructure is necessary to bridge the digital divide and promote social inclusion. The objective of this collaboration is to ensure unparalleled network capacity and performance while maintaining energy efficiency and reliability.

Powered by the energy-efficient ReefShark System-on-Chip technology, the Airscale portfolio features baseband units, remote radio heads, and massive MIMO (Multiple-Input Multiple-Output) antennas. These components simplify the deployment process, ensure enhanced 5G capabilities with improved coverage and provide high-speed connectivity to end users. The multiyear strategic access network partnership accentuates the growing acceptance of Nokia’s next-generation solutions.

Nokia is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, Nokia is transforming the way people and things communicate and connect with each other. These include a seamless transition to 5G technology, ultra-broadband access, IP and Software Defined Networking, cloud applications and Internet of Things.

It is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. The company’s deal win rate is encouraging with notable successes in key 5G markets. Its installed base of high-capacity AirScale products, which enable customers to quickly upgrade to 5G, is growing rapidly.

The stock has declined 24.5% in the past year compared with the industry’s fall of 23.6%.

Nokia currently has a Zacks Rank #3 (Hold).

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