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Nokia (NOK) to Support TAWAL's 5G Expansion in Saudi Arabia
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Nokia Corporation (NOK - Free Report) has strengthened its business relationship with TAWAL, a leading Information and Communications Technology infrastructure company in Saudi Arabia.
The Finland-based telecom equipment provider has been selected to provide turnkey services that will help expand 5G for TAWAL’s infrastructure in the western and southern parts of the country. The partnership will accentuate Nokia’s full turnkey services, including project management, civil work and tower reinforcement.
The move is in line with TAWAL’s broader strategy to ramp up the rollout of advanced technologies while supporting the Saudi Vision 2030. The program is aimed at reducing Saudi Arabia’s dependence on oil, diversifying its economy and developing public service sectors. The country has been working on digital transformation to achieve its goal.
In this project, Nokia will add 5G capabilities to 670 4G sites over the course of six months. It will also replace some existing towers with new ones. With best-in-class services to build the infrastructure, TAWAL is expected to meet its customers’ requirements. This development paves the way for future collaborations between the two companies in the 5G world.
Nokia aims to accelerate its product roadmaps and cost competitiveness through additional 5G investments. The company has been developing its 5G portfolio, strengthening AirScale and advancing the capabilities of its ReefShark chipset. It currently has 138 commercial 5G deals with communications service providers.
The company has presence in all 5G early adopter markets. Nokia had announced some important changes to its operating model. This has been done to better align with the needs of its customers and create shareholder value. However, the company’s financial performance for 2021 is expected to face challenges.
Nokia’s shares have gained 6.9% in the past year compared with 33.7% growth of the industry.
Plantronics delivered a trailing four-quarter positive earnings surprise of 568.2%, on average.
U.S. Cellular delivered a trailing four-quarter positive earnings surprise of 231.1%, on average.
NIC delivered a trailing four-quarter positive earnings surprise of 27.5%, on average. The company’s earnings beat the Zacks Consensus Estimate in two of the last four quarters.
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Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year.
These 7 were selected because of their superior potential for immediate breakout.
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Nokia (NOK) to Support TAWAL's 5G Expansion in Saudi Arabia
Nokia Corporation (NOK - Free Report) has strengthened its business relationship with TAWAL, a leading Information and Communications Technology infrastructure company in Saudi Arabia.
The Finland-based telecom equipment provider has been selected to provide turnkey services that will help expand 5G for TAWAL’s infrastructure in the western and southern parts of the country. The partnership will accentuate Nokia’s full turnkey services, including project management, civil work and tower reinforcement.
The move is in line with TAWAL’s broader strategy to ramp up the rollout of advanced technologies while supporting the Saudi Vision 2030. The program is aimed at reducing Saudi Arabia’s dependence on oil, diversifying its economy and developing public service sectors. The country has been working on digital transformation to achieve its goal.
In this project, Nokia will add 5G capabilities to 670 4G sites over the course of six months. It will also replace some existing towers with new ones. With best-in-class services to build the infrastructure, TAWAL is expected to meet its customers’ requirements. This development paves the way for future collaborations between the two companies in the 5G world.
Nokia aims to accelerate its product roadmaps and cost competitiveness through additional 5G investments. The company has been developing its 5G portfolio, strengthening AirScale and advancing the capabilities of its ReefShark chipset. It currently has 138 commercial 5G deals with communications service providers.
The company has presence in all 5G early adopter markets. Nokia had announced some important changes to its operating model. This has been done to better align with the needs of its customers and create shareholder value. However, the company’s financial performance for 2021 is expected to face challenges.
Nokia’s shares have gained 6.9% in the past year compared with 33.7% growth of the industry.
The stock currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader industry are Plantronics , United States Cellular (USM - Free Report) and NIC , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Plantronics delivered a trailing four-quarter positive earnings surprise of 568.2%, on average.
U.S. Cellular delivered a trailing four-quarter positive earnings surprise of 231.1%, on average.
NIC delivered a trailing four-quarter positive earnings surprise of 27.5%, on average. The company’s earnings beat the Zacks Consensus Estimate in two of the last four quarters.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year.
These 7 were selected because of their superior potential for immediate breakout.
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