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Nokia (NOK) to Power Globe Telecom 5G Network in Philippines

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Nokia Corporation (NOK - Free Report) has been selected by Globe Telecom, a leading telecommunications services provider in the Philippines, to upgrade its 4G network and expand the reach of its 5G network.

This Finland-based company is already a partner of Globe Telecom. It provides a range of solutions including wireless, IP, optical and fixed network products. The deployment, scheduled to begin in the second quarter of 2021, is expected to be completed in 2023. It will cover the second and third largest islands of Mindanao and Visayas.

In this project, Nokia will provide equipment and services from its 5G AirScale portfolio to build the Radio Access Network. Globe Telecom will use Nokia’s high-capacity AirScale massive MIMO Adaptive Antenna solution for enhanced performance.

The upgrade will enable Globe Telecom to provide its customers with superior speeds on the 5G network, which runs on the 3.5GHz spectrum band. The deal includes the expansion of the existing LTE network infrastructure. Nokia will provide its NetAct solution for network management and technical support services.

Nokia is focused on its strategy that hinges on four priorities. The first priority is to lead in high-performance end-to-end networks with its communications service provider customers. The second one is based on its relentless pursuit to expand network sales to select vertical markets. Building a strong standalone software business is the third priority. The fourth pillar aims to create new business and licensing opportunities in the consumer ecosystem.

To strengthen its leading position in the market, Nokia enables its customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation needed to support dynamic operations, reduce complexity and improve efficiency.

Nokia has a presence in all 5G early adopter markets. It currently has 145 commercial 5G deals with communications service providers. The company aims to accelerate its product roadmaps and cost competitiveness through additional 5G investments.

Nokia’s shares have lost 2.7% in the past year against 48.1% growth of the industry.



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

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

Aviat Networks delivered a trailing four-quarter earnings surprise of 61.7%, on average.

Plantronics delivered a trailing four-quarter earnings surprise of 560.4%, on average.

Ubiquiti delivered a trailing four-quarter earnings surprise of 37.1%, on average.

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