Nokia Corporation NOK recently announced its collaboration with Vi Business to accelerate the digital transformation of enterprise customers. Per the alliance, the Finland-based equipment vendor will assist enterprises with avant-garde technologies, namely gigabit passive optical networks, fixed wireless access and private wireless to boost the business agility and security of Vi Business’ infrastructure. Despite such developments, Nokia’s shares failed to impress investors as it declined 3.3% to close the trading session at $4.06 as on Dec 11. Markedly, Vi’s Enterprise Business solutions are widely known for making organizations ready with future-proof network infrastructure. These solutions aid enterprise customers to seamless connect private data centers and remote branches in a multi-cloud environment. The first-of-its-kind partnership will benefit both the companies as it will not only help Vi Business to enhance its operational efficiencies but also strengthen Nokia’s position in Indian telco market with best-in-class IT capabilities. Notably, Vi Business is the enterprise unit of Vodafone Idea Ltd, which was formed out of a merger between Vodafone India and Idea Cellular in 2018. Recognized as one of the prime telco service providers in India, Vi caters to government, large organizations, start-ups, and small and medium-sized businesses with a flexible infrastructure that helps them to minimize the costs and complexity of handling global communications while thriving in a dynamic ecosystem. Its state-of-the-art mobility and cloud solutions enable enterprises to create a positive brand experience and effectively manage security with lucrative revenue streams. Apart from reinforcing its robust connectivity solutions, it shares long-standing partnerships with eminent organizations like Microsoft Corporation MSFT, International Business Machines Corporation ( IBM Quick Quote IBM - Free Report) , Apple Inc. AAPL and Cisco. Vodafone Idea and Nokia have been sharing an active working relationship for quite some time now. Interestingly, last year, Vi Business and Nokia had joined forces to deploy Software-defined Wide Area Network services to assist enterprises adapt to the demands of digitization and cloud computing on a real-time basis. This on-demand network solution is based on Nokia’s Nuage Networks Virtualized Services Platform, which capitalizes on a centralized software to effectively manage the network while enabling businesses to securely access applications in a multi-cloud environment. With an augmented network of more than 220 large enterprise customers, Nokia is well placed to deliver new services while supporting Vi Business’ enterprise customers to address the evolving needs of a digital ecosystem. At present, Nokia is focused on developing its 5G portfolio driven by its technological prowess. The Finnish equipment vendor is well positioned to benefit from the ongoing technology cycle, given the strength of its end-to-end portfolio. Its portfolio includes products and services for every part of a network, which help operators enable key 5G capabilities, such as network slicing, distributed cloud and industrial IoT. Further, fast-tracked strategy execution, customer focus and reduced long-term costs bode well for Nokia’s long-term growth prospects. Nokia’s shares have gained 13.1% compared with the industry’s growth of 31.9% in the past year. This Zacks Rank #4 (Sell) stock delivered a trailing four-quarter positive earnings surprise of 37.5%, on average. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here The Hottest Tech Mega-Trend of All
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