Nokia wins 5G contract from Proximus Luxembourg
Reuters
Published Dec 15, 2020 04:02AM ET
STOCKHOLM/HELSINKI (Reuters) - Nokia (NYSE:NOK) said on Tuesday mobile operator Proximus Luxembourg has selected the Finnish telecom network equipment company for a seven-year deal to supply 5G coverage nationwide.
Nokia is replacing China's Huawei, according to a source familiar with the matter.
Nokia had in October won contracts from Orange and Proximus to build 5G radio networks in Belgium after they dropped Huawei amid U.S. pressure to exclude the Chinese firm from supplying key telecoms equipment.
Ericsson (BS:ERICAs) and Nokia have been beneficiaries of the trend by various governments to restrict Chinese companies from taking part in the deployment of 5G due to national security concerns.
In Luxembourg Nokia will replace the incumbent spectrum vendor in the deal, with deployment expected to start next year. It did not name the incumbent.
Proximus Luxembourg has spectrum in the 700Mhz band for low-latency communication and the 3.5Ghz band for dense urban coverage.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.