Nokia wins ‘multi-billion’ dollar deal in India
FINLAND: Finnish telecom equipment supplier Nokia on Wednesday said it had won a “multi-billion” dollar deal with India’s Bharti Airtel for delivery of 4G and 5G equipment.
Sources familiar with the talks told Reuters last month Nokia and Bharti were nearing a deal worth several billion dollars to expand Bharti’s network in India.
Nokia’s Swedish rival Ericsson had already won a deal of similar size with Bharti earlier in October.
India last year helped Nokia and Ericsson offset weakness in demand from U.S. customers. However, the volume of orders from India slowed down significantly after a growth spurt last year.
Nokia’s share price rose 3.1% by 0829 GMT.
About Nokia
Nokia is a Finnish multinational telecommunication, information technology, and consumer electronics company. Founded in 1865, Nokia started as a paper mill and later evolved into a rubber products manufacturer. However, it wasn’t until the 1960s that Nokia began to focus on electronics and telecommunications, eventually becoming one of the world’s leading mobile phone manufacturers.
During the 1990s and early 2000s, Nokia dominated the global mobile phone market with its iconic devices like the Nokia 3310 and Nokia 8110. The company’s innovative designs, user-friendly interfaces, and durable products made it a household name. Nokia’s success also led to the development of new technologies, such as GSM (Global System for Mobile Communications), which became the standard for mobile networks worldwide.
Although Nokia faced significant challenges in the smartphone market with the rise of Apple’s iPhone and Android devices, the company has continued to evolve and adapt. Today, Nokia focuses on developing network infrastructure, software, and services for telecommunications operators, as well as creating innovative technologies like 5G and the Internet of Things (IoT). Despite its transformation, the Nokia brand remains synonymous with innovation, quality, and reliability in the tech industry.
