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Nokia (NOK) Introduces AI-Powered Charging Software Solution

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Nokia Corporation (NOK - Free Report) recently unveiled an Enterprise Edge Charging Software Solution to boost monetization capabilities for edge services across various sectors, such as smart cities, utilities and railways.

This shift toward edge is driven by challenges associated with traditional centralized data centers, such as slow data transmission to distant centralized locations. Edge networking mitigates latency-related issues, ensures bandwidth optimization and offers greater reliability and affordability. As customer preferences evolve with the emergence of technologies like advanced 5G and IoT applications, communication service providers (CSPs) and enterprises are actively seeking solutions to adapt to this dynamic demand pattern.

Nokia Enterprise Edge boasts a microservices-based architecture that enables effortless deployment across various cloud and infrastructure environments. Integration of advanced AI and ML technology ensures greater control over network data. The data analysis at the edge optimizes the processing costs while maintaining low latency.

Furthermore, Nokia’s Monetization Manager improves rating with enhanced charging flexibility and accuracy. The simple, intuitive user interface enables the rapid creation of pricing and marketing strategies, saving time and accelerating efforts for the exploration of new commercial opportunities.

The software is expected to be available by the end of 2023. Enterprises and public sector entities focused on monetizing private wireless 5G networks and CSPs can leverage the cost-efficient solution to charge for services at the edge. Leading CSPs worldwide, serving a customer base of over 1 billion subscribers, have trusted Nokia's charging solutions. The recent advancements are likely to induce further commercial expansion and solidify the company’s footprint.

Nokia 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, it 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 Internet of Things.

Given the strength of its end-to-end portfolio, Nokia is well-positioned for the ongoing technology cycle. The company’s deal win rate is encouraging, with notable successes in key 5G markets. Its installed base of high-capacity AirScale products, which enable customers to quickly upgrade to 5G, is growing rapidly.

The stock has declined 17.9% in the past year compared with the industry’s fall of 13.2%.

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

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