tiprankstipranks
Nokia Bags Deal to Deploy 4G & 5G Network in Indonesia
Market News

Nokia Bags Deal to Deploy 4G & 5G Network in Indonesia

Telecommunications major Nokia Corporation (NYSE: NOK) recently revealed that it has been selected by Indonesian telecommunications provider Indosat Ooredoo Hutchison to deploy and expand its 4G and 5G network across Indonesia.

Don't Miss our Black Friday Offers:

Following the news, shares of the company declined 3.3% to close at $4.80 on Friday.

Strategic Impact

Under the three-year deal, Nokia will cover an area of roughly 1.4 million square kilometers, including Sumatra island, Kalimantan island, Central Java and Surabaya city. Nokia will provide solutions from its AirScale portfolio, including base stations and 5G Single RAN, for both premium indoor and outdoor coverage.

Further, the company will look at improving data throughput and customer experience by preparing the network for early 5G deployments.

Management Commentary

The President of Mobile Networks at Nokia, Tommi Uitto, said, “We are looking forward to supporting Indosat Ooredoo Hutchison in this crucial initiative to expand its coverage footprint and prepare the networks for more innovative 5G services in the near future. Nokia’s 5G-ready AirScale portfolio will help Indosat Ooredoo Hutchison to launch next-generation services while helping it to bring down its operational expense.”

Price Target

Consensus among analysts is a Strong Buy based on 4 Buys and 1 Hold. The average Nokia price target of $7.48 implies upside potential of 55.8% from current levels. Shares have gained 24% over the past year.

Download the TipRanks mobile app now

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Read full Disclaimer & Disclosure

Related News:
Welbilt Sells Manitowoc Ice Business to Pentair for $1.6B
SoFi Concludes Acquisition of Technisys
Broadcom’s Q1 Results Surpass Estimates; Street Says Buy

Go Ad-Free with Our App