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Nokia (NOK) Secures Private Wireless Deal From Tideworks

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Nokia Corporation (NOK - Free Report) has inked a deal with Tideworks Technology — a wholly owned subsidiary of Carrix, Inc. — to deploy its Digital Automation Cloud (DAC) at the Port of Seattle, Terminal 5.

Tideworks is a full-service provider of terminal operating system solutions for marine and intermodal terminal operations. Port of Seattle, Terminal 5 is part of the Northwest Seaport Alliance, one of the largest container gateways in North America. Terminal 5 is undergoing a major modernization project to handle ultra-large container ships.

Nokia has more than 220 large enterprise customers across industries worldwide, of which at least 30 have deployed 5G. The DAC platform offers high-bandwidth, low-latency private networking, local edge computing capabilities, and voice and video services. It includes network equipment, a cloud-based operation monitoring system and industrial connectors that improve connectivity.

The DAC has ruggedized tablets and smartphones for mobile voice communications and yard inventory applications. This agreement follows a successful DAC proof-of-concept trial at SSA Terminal’s Oakland International Container Terminal. The trial showed that a small number of Nokia’s DAC private LTE radios provided superior coverage and reliability than nearly 200 existing Wi-Fi access points located across two Oakland sites.

The Finland-based company’s private network will be deployed over Band 53 and Band 48 to enable seamless switching between bands and cells. Nokia’s digital automation service platform with industrial-grade LTE/5G private wireless networking is likely to enhance efficiency, worker safety and terminal handling performance.  

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 service providers.

Nokia’s shares have lost 0.5% in the past year against 38.1% growth of the industry.

The stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the industry are Ubiquiti (UI - Free Report) , Aviat Networks (AVNW - Free Report) and Comtech Telecommunications (CMTL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Ubiquiti delivered a trailing four-quarter positive earnings surprise of 27.9%, on average. The company’s earnings beat the Zacks Consensus Estimate in three of the last four quarters.

Aviat delivered a trailing four-quarter positive earnings surprise of 11.8%, on average. The company’s earnings beat the consensus estimate in three of the last four quarters.

Comtech delivered a trailing four-quarter positive earnings surprise of 2%, on average. The company’s earnings beat the consensus estimate in two of the last four quarters.

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