Nokia Corporation (NYSE: NOK) said Monday it now has more than 40 commercial agreements with the companies building 5G networks as it seeks to be a top player in the behind-the-scenes work to create the infrastructure behind the next-generation communications networks.
“Since the announcement of the 30th commercial 5G contract at the end of March, the company has seen an average of one major contract win each week — with a steady pipeline in place for further agreements,” Nokia said in a Monday statement.
It also said the work will soon be occurring outside of the expected European, American and Asian markets.
“Early rollouts of 5G have been well-publicized in North America, Korea and Europe,” the company said.
“Nokia is looking forward to announcing its work with operators in emerging nations and regions such as India and Latin America over the coming months.”
Nokia’s announced partnerships provide a look at some of the companies poised to lead the move into 5G. Most U.S. companies expect to roll out 5G availability this year or in 2020; Europe is on a similar pace, while some countries in Asia, particularly South Korea, have been ahead of the curve.
5 For 5G
T-Mobile US Inc. (NASDAQ: TMUS): Nokia’s largest 5G agreement globally so far is with U.S. telecom T-Mobile’s nationwide 5G network.
BT Group plc (NYSE: BT): Nokia said in April its service router platform will be used by BT on the 5G network in Britain.
Sprint Corp. (NYSE: S): announced it would be testing 5G with Nokia in Los Angeles.
United States Cellular Corp (NYSE: USM): Nokia announced the signing of a five-year deal in March to modernize USM’s network by providing its end-to-end 5G technology, software and services solutions.
The competitor: Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC). Swedish company Ericsson also is trying to position itself as a top provider of the background infrastructure behind the world’s 5G networks. It was the behind-the-scenes infrastructure partner in the first rollout of 5G in the U.S. in Minneapolis and Chicago.
2 More 5G Plays
SoftBank Group Corp-ADR (OTC: SFTBY): SoftBank made news when announcing Nokia as a vendor for its 5G network in Japan, because it meant SoftBank wouldn’t be going with Chinese vendor Huawei, which had been a key vendor on SoftBank’s 4G network.
Huawei has come under scrutiny from the United States and others for security risks.
MKM Bullish On Nokia's 5G Opportunity
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Photo courtesy of Nokia.
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