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Nokia (NOK) & Earthlink to Build National Backbone in Iraq

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Nokia Corp. (NOK - Free Report) has announced that Earthlink Telecommunication, a leading Internet Service Provider in Iraq, will use its solution to build a high-capacity IP metro transport network in 15 provinces across the country.

The initiative is part of the Iraqi National Backbone project, which will help build a future-ready digital ecosystem contributing to the country’s economic and social growth.

Nokia will build 60 new nodes, one in each exchange as part of the initiative. Once deployed (by the end of this year), Earthlink will be able to provide high-speed broadband to 3.5 million people and help the country thrive in the digital world. The deployment will allow the delivery of new services that include Fiber-to-the-X, Internet of Things, and IPTV.

Nokia’s shares have gained 42.2% in the past year compared with the industry’s growth of 16.3%.

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The new 100G network capacity can be easily upgraded to 400G. NOK’s solution, including the FP4-based Nokia 7750 Service Router and 7250 Interconnect Router, has been designed to deliver massive scale while ensuring superior quality.

Earthlink will be able to automate the network with Nokia’s Network Services Platform resulting in reduced costs and improved network responsiveness. Nokia will also provide professional services for the smooth execution of the project.

Once completed, Earthlink will be able to reduce its response time and ensure quick delivery of traffic capacity along with quality services. Nokia will work with Earthlink to build Iraqi National Backbone to provide affordable high-speed Internet to customers.

Nokia is a leader in the 5G Standalone Core market, with more than 80 communication service providers and enterprise customers globally. It has reached 4,000 patent families, declared as essential to 5G standards.

The company is well-poised to benefit from the growing demand for next-generation connectivity. It has made meaningful progress in its three-phased journey of value creation. Its focus on capital allocation and technology leadership is likely to help it grow profitably.

NOK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearfield, Inc. (CLFD - Free Report) is a better-ranked stock in the broader Zacks Computer and Technology sector, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised 8.8% upward over the past 30 days.

Clearfield delivered a trailing four-quarter earnings surprise of 50.8%, on average. It has soared 194.3% in the past year.

Qualcomm, Inc. (QCOM - Free Report) , carrying a Zacks Rank #2 (Buy), is another solid pick for investors. The consensus estimate for current-year earnings has been revised 1.1% upward over the past seven days.

Qualcomm delivered a trailing four-quarter earnings surprise of 11.2%, on average. It has gained 13.3% in the past year.

Harmonic, Inc. (HLIT - Free Report) also carries a Zacks Rank #2. The consensus estimate for current-year earnings has been revised 23.1% upward over the past 30 days.

Harmonic delivered a trailing four-quarter earnings surprise of 61.1%, on average. The stock has appreciated 65.4% in the past year.

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