Nokia wins 'multi-billion' dollar deal in India

India last year helped Nokia and Ericsson offset weakness in demand from US customers

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Image used for illustrative purpose. Photo: File

By Reuters

Published: Wed 20 Nov 2024, 12:48 PM

Finnish telecom equipment supplier Nokia on Wednesday said it had won a "multi-billion" dollar deal with India's Bharti Airtel for delivery of 4G and 5G equipment.

Sources familiar with the talks told Reuters last month Nokia and Bharti were nearing a deal worth several billion dollars to expand Bharti's network in India.

Nokia's Swedish rival Ericsson had already won a deal of similar size with Bharti earlier in October.

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India last year helped Nokia and Ericsson offset weakness in demand from US customers. However, the volume of orders from India slowed down significantly after a growth spurt last year.

Nokia's share price rose 3.1 per cent by 8.29am GMT.

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Reuters

Published: Wed 20 Nov 2024, 12:48 PM

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