Nokia Inks $1.51 Billion Cloud Network Deal with China Mobile
June 13 2016 - 11:18AM
Dow Jones News
By Mattias Verbergt
Nokia (NOK) said on Monday it had signed a deal with China
Mobile (CHL) worth 9.927 billion yuan ($1.51 billion), in which the
Finnish wireless telecom-equipment maker will provide cloud network
infrastructure to the telecommunications operator.
Under the agreement, Nokia said it will deploy base stations
capable of operating multiple radio standards, including
fifth-generation cellular technology, or 5G, to handle the
ever-growing data usage demand in the country. Nokia will also
supply China Mobile with fixed network services, such as IP routing
and optical transport, as well as software, the company said.
Earlier on Monday, Nokia's Nordic competitor Ericsson AB said it
has signed a seven-year software deal with Amsterdam-based
VimpelCom Ltd. (VIP) worth over $1 billion, which will see Ericsson
overhaul VimpelCom's IT infrastructure across 11 countries, using
new software and cloud technologies.
Write to Mattias Verbergt at mattias.verbergt@wsj.com
(END) Dow Jones Newswires
June 13, 2016 11:03 ET (15:03 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
China Mobile (NYSE:CHL)
Historical Stock Chart
From Mar 2024 to Apr 2024
China Mobile (NYSE:CHL)
Historical Stock Chart
From Apr 2023 to Apr 2024
