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Nokia (NOK) Inks Multiple Deals for Cloud-Based 5G Solutions
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Nokia Corporation (NOK - Free Report) recently inked a slew of contracts with leading cloud operators to develop cloud-based 5G solutions to augment its market presence within the 5G domain. The collaborations will support new consumer and enterprise use cases for seamless deployment of 5G services.
In particular, the collaborations intend to identify certain 5G use cases to showcase the efficacy of the components of 5G architecture against security threats. It aims to demonstrate how potential risks are mitigated through standardized 5G security features that also abide by the related compliance requirements. The enhanced cybersecurity capabilities on display are likely to allay deep-rooted fears and mistrust within business enterprises triggered by malicious cyber threats from data hackers.
Nokia inked a partnership with Google Cloud — the cloud computing services of Alphabet Inc. (GOOGL - Free Report) . Per the deal, the two firms will work in unison to support businesses’ digital transformation at the network edge through both 5G connectivity and cloud-native applications and capabilities. The partnership aims to develop new solutions for communication service providers that would help them modernize network infrastructure for a smooth transition to cloud-native 5G core. This, in turn, is likely to build an ecosystem of services that are deployable anywhere, from the edge of the network, to public clouds, private clouds and carrier networks.
The company also collaborated with Microsoft Corporation (MSFT - Free Report) to facilitate secure and seamless cloud connectivity of IoT devices by diverse businesses across the globe. The partnership is likely to sow the seeds of technology convergence of secure cloud computing and intricate network management skills to help businesses unlock customer value. Per the deal, the companies will aim to combine Nokia’s Cloud RAN (vRAN) technologies with Microsoft Azure cloud-based services to drive end-user functionality and enable business enterprises monetize 4G/5G deployments.
In addition, Nokia collaborated with Amazon Web Services (“AWS”) — the cloud computing platform of Amazon.com, Inc. (AMZN - Free Report) — to facilitate the digital transformation of enterprise firms to enable them to gain more mileage from various cloud-based applications. The strategic partnership is also likely to standardize and optimize applications within the AWS environments to help enterprises accelerate innovation, reduce risks and improve efficiency levels. The collaboration will help eliminate multivendor complexities, stimulate digitization and enable customers to explore innovation to improve cloud applications on AWS. Leveraging Nokia’s RAN (Radio Access Network), Open RAN, Cloud RAN and edge solutions, communications service providers and enterprises with 5G connectivity can utilize AWS across the topology of the mobile network and simplify the network virtualization functions.
The collaborations showcase Nokia’s strategy of partnering with public cloud providers to expand its ecosystem of partners and drive end user business outcomes essential for monetizing 5G deployments. The company facilitates 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. It seeks to expand its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond its traditional primary markets. Nokia remains focused on building a robust scalable software business and expanding it to structurally attractive enterprise adjacencies. It has reached more than 100 commercial 5G contracts across the globe. The company’s end-to-end portfolio includes products and services for every part of a network, which are helping operators to enable key 5G capabilities, such as network slicing, distributed cloud and industrial IoT. Accelerated strategy execution, sharpened customer focus and reduced long-term costs are expected to position the company as a global leader in the delivery of end-to-end 5G solutions.
Shares of the company have gained 14.4% in the past year compared with the industry’s growth of 34.4%.
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Nokia (NOK) Inks Multiple Deals for Cloud-Based 5G Solutions
Nokia Corporation (NOK - Free Report) recently inked a slew of contracts with leading cloud operators to develop cloud-based 5G solutions to augment its market presence within the 5G domain. The collaborations will support new consumer and enterprise use cases for seamless deployment of 5G services.
In particular, the collaborations intend to identify certain 5G use cases to showcase the efficacy of the components of 5G architecture against security threats. It aims to demonstrate how potential risks are mitigated through standardized 5G security features that also abide by the related compliance requirements. The enhanced cybersecurity capabilities on display are likely to allay deep-rooted fears and mistrust within business enterprises triggered by malicious cyber threats from data hackers.
Nokia inked a partnership with Google Cloud — the cloud computing services of Alphabet Inc. (GOOGL - Free Report) . Per the deal, the two firms will work in unison to support businesses’ digital transformation at the network edge through both 5G connectivity and cloud-native applications and capabilities. The partnership aims to develop new solutions for communication service providers that would help them modernize network infrastructure for a smooth transition to cloud-native 5G core. This, in turn, is likely to build an ecosystem of services that are deployable anywhere, from the edge of the network, to public clouds, private clouds and carrier networks.
The company also collaborated with Microsoft Corporation (MSFT - Free Report) to facilitate secure and seamless cloud connectivity of IoT devices by diverse businesses across the globe. The partnership is likely to sow the seeds of technology convergence of secure cloud computing and intricate network management skills to help businesses unlock customer value. Per the deal, the companies will aim to combine Nokia’s Cloud RAN (vRAN) technologies with Microsoft Azure cloud-based services to drive end-user functionality and enable business enterprises monetize 4G/5G deployments.
In addition, Nokia collaborated with Amazon Web Services (“AWS”) — the cloud computing platform of Amazon.com, Inc. (AMZN - Free Report) — to facilitate the digital transformation of enterprise firms to enable them to gain more mileage from various cloud-based applications. The strategic partnership is also likely to standardize and optimize applications within the AWS environments to help enterprises accelerate innovation, reduce risks and improve efficiency levels. The collaboration will help eliminate multivendor complexities, stimulate digitization and enable customers to explore innovation to improve cloud applications on AWS. Leveraging Nokia’s RAN (Radio Access Network), Open RAN, Cloud RAN and edge solutions, communications service providers and enterprises with 5G connectivity can utilize AWS across the topology of the mobile network and simplify the network virtualization functions.
The collaborations showcase Nokia’s strategy of partnering with public cloud providers to expand its ecosystem of partners and drive end user business outcomes essential for monetizing 5G deployments. The company facilitates 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. It seeks to expand its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond its traditional primary markets. Nokia remains focused on building a robust scalable software business and expanding it to structurally attractive enterprise adjacencies. It has reached more than 100 commercial 5G contracts across the globe. The company’s end-to-end portfolio includes products and services for every part of a network, which are helping operators to enable key 5G capabilities, such as network slicing, distributed cloud and industrial IoT. Accelerated strategy execution, sharpened customer focus and reduced long-term costs are expected to position the company as a global leader in the delivery of end-to-end 5G solutions.
Shares of the company have gained 14.4% in the past year compared with the industry’s growth of 34.4%.
We remain impressed with the inherent long-term growth potential of this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>