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Leading telecommunications provider Ericsson (ERIC - Analyst Report) recently announced that it has signed a deal with Canada-based TELUS Corporation (TU - Analyst Report) to develop and deploy state-of-the-art multimedia services. The financial terms of the deal remain undisclosed.

The contract requires Ericsson to provide TELUS with its IP Multimedia Subsystem (IMS) solution to ensure that the latter can offer an advanced integrated network experience to both wireline and wireless consumers across the country.

IMS is the latest addition to the family of network convergence solutions, and is designed innovatively to provide advanced applications for multimedia services including voice, data and video calling services. This service besides being competitive is also cost effective for the consumers.

Ericsson’s service will make TELUS a leading provider of core communications services specialty in LTE (Long Term Evolution) services for HD (High Definition) voice and video calling. The consumers can also avail and manage the services across multiple devices.

The solution is likely to augment TELUS’ revenue by focusing on the deployment of Rich Communication Services (RCS) and Voice over LTE (VoLTE) services. This will further strengthen TELUS’s ongoing initiatives to emerge as an advanced consolidated provider of network services for its 12 million customers spread across Canada.

Ericsson is the world’s largest supplier of LTE technology with approximately 13% market share. To date, Ericsson has established about 150 LTE networks worldwide and has made communication easier and more convenient by providing high-speed data for mobile phones and data terminals.

Ericsson currently has a Zacks Rank #3 (Hold). Investors interested in the utility industry and telecom industry may also consider stocks like Ubiquiti Networks Inc. (UBNT - Analyst Report) and Alliant Energy Corp. (LNT - Snapshot Report). Ubiquiti carries a Zacks Rank #1 (Strong Buy), while Alliant Energy presently retains a Zacks Rank #2 (Buy).

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