Nokia Inks Deal With Tele2 To Deliver Global IoT Services

Nokia (HE:NOKIA) Corporation (NYSE:NOK) has signed a five-year contract with Tele2 to aid its enterprise customers with a smooth delivery of IoT (Internet of Things) services. The provision will be based on Nokia's worldwide IoT network grid (WING), a one-stop-shop IoT managed facility including a pre-integrated global IoT core network, connectivity management and dedicated IoT operations.

Nokia WING will allow fast and economic delivery of IoT services to Tele2’s enterprise clients in the field of transport, healthcare, smart city and utilities with a view to manage their connectivity needs and assets worldwide. This technology will also benefit Tele2 IoT's users with reduced latency, regulatory compliance and an advanced enterprise onboarding besides offering 24x7 troubleshooting as a managed service.

Thus Tele2 IoT package will combine the sophisticated Nokia WING technology with its innovative solutions to introduce a new-age paradigm for global IoT services.

The agreement also covers collaboration on various other advanced technologies such as 5G, Narrowband IoT (NB-IoT), LTE for machine-to-machine (LTE-M), SIM management and analytics to further enhance the global IoT network.

Zacks Rank & Key Picks

Nokia carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Computer and Technology sector are AMETEK, Inc., (NYSE:AME) , Harris Corporation (NYSE:HRS) and Motorola Solutions, Inc. (NYSE:MSI) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of AMETEK, Harris and Motorola have surged more than 40%, 43% and 33%, respectively, in a year.

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