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Nokia Oyj (ADR) (NYSE:NOK) Selected To Manage Telenor-Telia Shared Radio Network

Nokia Oyj (ADR) (NYSE:NOK) has signed a managed services contract that paves way for it to manage Telenor-Telia joint mobile network radio. The idea behind the collaboration is to help expand TT network capacity in a bid to improve customer experience and introduce new technologies.

Nokia-TT Agreement

Under the terms of the agreement, the Finish Company is to handle all operational as well as developmental tasks for the radio access network, starting October. Nokia will also provide network planning and optimization for the network in more than 4,000 mobile sites around the country.

In return, Telia and Telenor should be able to offer customers better coverage and greater capacity for enhanced mobile experience. The partnership underscores Nokia’s strength in the network services business where it is helping network operators navigate through complexity in a bid to transform their businesses.

“We have reached a point where we need to take the TT network to a new level, and Nokia will help us do that. They have the necessary expertise, capacity, and know-how in the area that will ensure the most optimal operation and making our network ready for the future,” said Peter Nødbak, network director, Telenor Denmark.

The signing of the managed service contract comes at a time when Telenor has embarked on an aggressive restructuring push. The company has already announced plans to lay off 54 employees in addition to shutting down 31 open jobs. The company also plans to add 19 positions that will mostly focus on improving customer service and experience.

Nokia Smartphones

Separately, Nokia’s comebacks in the smartphone business appear to be going well as the company’s branded phones continue to elicit strong demand. The Nokia 6 which was unveiled recently has already sold out in India an indication that people still value the brand.

HMD Global which is the startup licensing the Nokia brand name plans to launch a new flagship smartphone buoyed by the success of Nokia 3, Nokia 5 and now Nokia 6. Nokia 8 which will run on the latest version of the Android operating system will be ready for sales in September. It will boast of a 5.8-inch display, dual camera and three microphones for capturing 360 degrees sound.

Nokia was up by 0.65% in Friday’s trading session to end the week at $6.21 a share.

Published by Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

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