Nokia Corporation ( NOK Quick Quote NOK - Free Report) announced an upgrade in its Fixed Network SaaS suite to support service providers with enhanced operational efficiency. The AVA Fixed Network Insights powered by artificial intelligence and machine learning capabilities significantly improve customer service with a self-supporting fixed broadband ecosystem. The latest additions will further improve the company’s existing fixed network solutions which are already providing excellent service to end users. In today’s digital age, greater connectivity is a significant factor for economic growth. With the rise of remote work, online businesses and various digital services, access to information is crucial and service providers need a cost-efficient robust infrastructure to support customers’ dynamic requirements. The objective of Nokia’s telecom software-as-a-Service (SaaS) approach is to expedite service launches, streamline operation without significant investment commitments, reduce maintenance requirements. AVA Fixed network insights mitigate network service problems, rapidly detect and address network issues and enhance first-call resolution. Nokia also intends to integrate chatbot support in the solution to help customers execute user-friendly recommendations without the need for any sort of technical assistance. Nokia's commercial outlook is centered on providing value to its clients through sustained technological innovation and this is likely to strengthen its position in the wireless equipment market and significantly upscale its business. Nokia is well-positioned in the ongoing technology cycle, given the strength of its end-to-end portfolio. The company’s deal win rate is encouraging with notable successes in the key 5G markets of the United States and China. Its installed base of high-capacity AirScale product, which enables customers to quickly upgrade to 5G, is growing fast. The company is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, Nokia is transforming the way people and things communicate and connect with each other. These include seamless transition to 5G technology, ultra broadband access, IP and Software Defined Networking, cloud applications and Internet of Things. The company is witnessing healthy momentum in its focus areas of software and enterprise, which augurs well for the licensing business. It is poised to benefit from copper and fiber deployments of passive optical networking. It is the only global supplier that offers O-RAN with commercial 5G Cloud-RAN networks. The company intends to accelerate strategy execution, sharpen customer focus and reduce long-term costs. At the same time, it is focused to build a strong scalable software business and expand it to structurally attractive enterprise adjacencies. Nokia’s C-Band portfolio supports 5G standalone and non-standalone networks, cloud-based implementations and Open RAN products. The stock has declined 17.7% in the past year compared with the industry’s fall of 13.4%. Image Source: Zacks Investment Research
Nokia currently has a Zacks Rank #3 (Hold). You can see
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