Nokia Corporation ( NOK Quick Quote NOK - Free Report) has strengthened its leading market position as telecommunications equipment provider on the back of a slew of contracts across the globe. The developments gain prominence as the Biden administration imposes fresh restrictions on China-based rival firm Huawei. Notably, the U.S. government amended some licenses for companies that supply raw materials to Huawei, jeopardizing certain existing contracts already in force. The amended terms make it rather impossible for the companies to supply items that can be used with 5G devices, even if the said items have nothing to do with 5G functioning. As nations increasingly shun the use of Huawei gear in their networks, firms like Nokia are rapidly gaining ground. Nokia recently inked a partnership with Google Cloud — the cloud computing services of Alphabet Inc. ( GOOGL Quick Quote 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 Quick Quote 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 Quick Quote 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. Nokia also inked a deal with Antina Pte. Ltd. — a joint venture between mobile network operators M1 and StarHub — to launch 5G Standalone RAN in Singapore. In addition to offering support for new consumer and enterprise use cases for seamless deployment of 5G services, the partnership aims to promote digital economy in the South East Asian nation. It signed a reseller agreement with ClearWorld to offer smart city solutions across the United States. The deal with the alternate energy systems provider will facilitate the company to provide a comprehensive portfolio of smart urban infrastructure solutions to various cities. Nokia 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 146 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. 5 Stocks Set to Double
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