Nokia Corporation (NYSE:NOK) shares are trading higher premarket on Wednesday. The company secured a multi-year, multi-billion USD contract extension with Bharti Airtel to deploy advanced 4G and 5G equipment across key regions in India.
The deal includes Nokia's 5G AirScale portfolio with ReefShark-powered Massive MIMO radios for enhanced network capacity and coverage, along with modernizing Airtel's 4G infrastructure to support 5G.
Additionally, Airtel will utilize Nokia's AI-driven MantaRay Network Management for intelligent monitoring, optimization, and technical support.
Pekka Lundmark, President and CEO of Nokia, added, "This strategic agreement further solidifies our long-standing collaboration with Airtel and our footprint in India."
"Our industry-leading AirScale portfolio and AI-based services will enhance the energy efficiency of Airtel's network, enabling premium 5G capacity and connectivity with the highest quality of service for subscribers."
Gopal Vittal, Vice Chairman and MD, Bharti Airtel, said "This strategic partnership with Nokia will future proof our network infrastructure and provide customers with unparalleled user experience along with a network that will be eco-friendly to minimize environmental impact."
Last week, Nokia acquired Rapid's technology assets, including the world's largest API hub and its R&D team, to enhance its network API product roadmap for an undisclosed amount.
This move supports Nokia's strategy to lead the API ecosystem, enabling operators and partners to monetize 4G and 5G network capabilities.
Investors can gain exposure to NOK stock via iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:IDGT) and Defiance Quantum ETF (NASDAQ:QTUM).
Price Action: NOK shares are up 3.37% at $4.29 premarket at the last check Wednesday.
Photo via Shutterstock
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