Nokia (HE:NOKIA) Corporation (NYSE:NOK) has announced plans to supply an LTE Network in the 700 megahertz spectrum band to Shanghai Oriental Pearl Group (a broadcasting, media, manufacturing and real estate company).
The deployment will transform the Hongkou district of Shanghai through an array of smart city services. Nokia will provide advanced wireless communications based on FDD-LTE technology for smart city as well as public safety applications. Nokia’s joint venture company in China, Nokia Shanghai Bell, will cater to the deployment and services.
The LTE network will offer services such as broadband connectivity, video monitoring and analysis plus other smart city services. This deployment is Nokia’s first commercial LTE 700 MHz contract in China.
Along with network infrastructure, Nokia Shanghai Bell’s global services team will also deliver systems integration, network planning and implementation.
The project complements Nokia’s impressive history of supporting smart city initiatives worldwide. It also emphasizes Nokia’s strategy of expanding its customer activities beyond the realm of traditional telecommunications. The company adopted a similar scheme when it recently inked a deal with Infracapital to introduce a high-speed fiber broadband service across central and northern Poland.
Zacks Rank & Key Picks
Nokia currently carries a Zacks Rank #2 (Buy). Some other stocks worth considering in the broader Computer and Technology sector are Arista Networks, Inc. (NYSE:ANET) , Sierra Wireless, Inc. (NASDAQ:SWIR) and Ubiquiti Networks, Inc. (NASDAQ:UBNT) . While Arista sports a Zacks Rank #1 (Strong Buy), Sierra Wireless and Ubiquiti carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Arista, Sierra Wireless and Ubiquiti gained over 13%, 6% and 4% respectively, in the last three months.
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Nokia Corporation (NOK): Free Stock Analysis Report
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