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Nokia (NOK) Inks Five-Year 5G Deal With Ooredoo Group

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Nokia Corp. (NOK - Free Report) has been selected by Ooredoo Group to deploy multiple technologies, including 5G, radio access network, Core, Optics, IP and microwave, in the Middle East, North Africa and Southeast Asia.

Headquartered in Doha, Qatar, Ooredoo is a multinational telecommunications company that provides wireless, wireline and content services.

The multi-country, five-year deal builds on Nokia’s partnership with Ooredoo. It will see Nokia expand Ooredoo’s existing network and introduce 5G services. The deployment is expected to be completed by 2026 in these countries.

Per the deal, Nokia will deploy equipment from its AirScale RAN portfolio on sites across North Africa and Southeast Asia. Nokia’s AirScale radio platform has the capability of delivering 5G services to customers across different spectrum bands. The deal covers digital deployment services for a faster time to market and technical support.

Nokia’s shares have gained 37.7% in the past year compared with the industry’s growth of 17.8%.

Zacks Investment ResearchImage Source: Zacks Investment Research

Nokia will provide its cloud-native Core software to give Ooredoo automation capabilities that will drive a greater scale. With Nokia’s advanced technology, Ooredoo will be able to introduce new services for smart cities, transportation and public safety quickly.

Nokia’s optical solutions will expand Ooredoo’s network, providing improved network flexibility and operational automation. Nokia’s microwave transport supports 5G microwave growth and new spectrum like E-band.

Ooredoo intends to modernize its network by rolling out world-class 4G and 5G services across North Africa and Southeast Asia. Nokia continues to deliver robust networks to Ooredoo’s customers so that they can experience faster speeds and more bandwidth.

Nokia is a leader in the 5G Standalone Core market and 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.

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 industry, 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 172.2% 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 14.1% upward over the past 30 days.

Qualcomm delivered a trailing four-quarter earnings surprise of 11.2%, on average. It has appreciated 19.4% in the past year.

Sierra Wireless, Inc. (SWIR - Free Report) also carries a Zacks Rank #2. The consensus estimate for current-year earnings has been revised 20.5% upward over the past 30 days.

Sierra delivered a trailing four-quarter earnings surprise of 34.2%, on average. The stock has returned 18.7% in the past year.