Nokia Expands Its Foothold in China
Nokia (NOK) has recently signed 5G-related (fifth-generation) contracts worth ~$2.3 billion with China Mobile (CHL), China Unicom (CHU), and China Telecom. The contracts call for Nokia to supply equipment and provide services to help these operators improve their network speed, capacity, and reliability as they prepare for the rollout of 5G services. For China Mobile in particular, the latest contract marks an expansion of its relationship with Nokia.