Nokia Corporation ( NOK Quick Quote NOK - Free Report) recently inked a multi-year cross license patent agreement with Apple Inc. ( AAPL Quick Quote AAPL - Free Report) . Under this agreement, the iPhone manufacturer intends to leverage Nokia’s industry-leading 5G portfolio and other technologies. Specific terms of the agreement have been kept under the wraps. The current deal with Apple is valid till the end of 2023. The new agreement will be enforceable from January 2024 onward. The deal complies with Nokia’s long-term outlook disclosed in the first quarter of the fiscal 2023. Nokia contributes its inventions to open standards, allowing other organizations to license and utilize these technologies without investing significant resources in developing their own standards. This strategy promotes innovation and facilitates the creation of new products and services. Additionally, Nokia ensures access to its patented technologies by licensing them on fair, reasonable and non-discriminatory (FRAND) terms. The multi-year renewal with Apple accentuates the growing acceptance of Nokia’s next-generation innovative solutions among established players and solidifies its position in the wireless equipment market. Nokia has emerged as one of the leading players in the development of advanced 5G technology and is at the forefront of extending 5G use cases into various industries. The Finland-based telecom giant has laid a strong foundation of innovation through a substantial investment of $140 billion over two decades. This has led to the establishment of an impressive portfolio comprising approximately 20,000 patent families, including more than 5,500 patent families that are deemed crucial to 5G technology. The company is placing a strong emphasis on cutting-edge innovations such as 5G network slicing, cloud native architecture and advancements of massive MIMO (Multiple-Input Multiple-Output) technology. These innovations are aimed at providing an exceptional user experience and signify Nokia’s commitment to support worldwide digital transformation. Nokia is well-positioned for 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. Its installed base of high-capacity AirScale product, which enables customers to quickly upgrade to 5G, is growing rapidly. 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 stock has declined 10.8% in the past year compared with the industry’s fall of 1.8%. Image Source: Zacks Investment Research
Nokia currently has a Zacks Rank #2 (Buy). You can see
. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here InterDigital, Inc. ( IDCC Quick Quote IDCC - Free Report) , sporting a Zacks Rank #1, delivered an earnings surprise of 170.89%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 579.03%. It is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company designs and develops a wide range of advanced technology solutions, which are used in digital cellular and wireless 3G, 4G and IEEE 802-related products and networks. Akamai Technologies, Inc. ( AKAM Quick Quote AKAM - Free Report) , sporting a Zacks Rank #1 at present, delivered an earnings surprise of 4.86%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 6.06%. It is a global provider of content delivery networks and cloud infrastructure services. The company’s solutions accelerate and improve the delivery of content over the Internet, enabling faster response to requests for web pages, streaming of video & audio, business applications, etc. Its offerings are intended to reduce the impact of traffic congestion, bandwidth constraints and capacity limitations on customers.