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Nokia (NOK) Launches Improved Home Connectivity Software

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Nokia Corporation (NOK - Free Report) recently unveiled an improved end-to-end home connectivity software for broadband devices. Dubbed Corteca, the software will enable service providers to enhance customer experiences, create new revenue-generating opportunities and reduce operational costs.

Despite a surge in multi-gigabit Internet connections, households often face a plethora of connectivity issues that hinder their viewing experiences. These include complex installation processes, limited interoperability, inconsistent coverage and dead zones with virtually no broadband connectivity at certain places within the house. Nokia’s Corteca software aims to address these issues with its cloud-based operations.

Leveraging advanced Wi-Fi performance and devices in the home along with effective customer support tools and proactive monitoring in the cloud, the software has increased peak hour Wi-Fi throughput by 70% while reducing average handling time of helpdesk calls by 50% in recent trials. The software comprises Corteca Cloud that offers a single interface to manage home Wi-Fi networks, Corteca Applications and Corteca Device Software. Corteca Applications offers service providers access to a catalog of value-added, revenue-generating services.

The Corteca Device Software runs on the in-home broadband and Wi-Fi devices on a real-time basis with cloud-based operations to monitor and manage end-user experience. It also enables operators to seamlessly run, manage and update applications independent of the device software to reduce costs.

By unlocking network efficiencies with common operability, software delivery and increased hardware sharing, Nokia has reduced the total cost of ownership for mobile operators. The company is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale products is also 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. Nokia is transforming the way people and things communicate and connect with each other. These include a seamless transition to 5G technology, ultra-broadband access, IP and Software Defined Networking, cloud applications and the Internet of Things.

The company enables 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. Nokia remains focused on building a robust, scalable software business and expanding it to structurally attractive enterprise adjacencies.

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.

The stock has lost 23% in the past year compared with the industry’s decline of 20.5%.

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Nokia currently carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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