Nokia signs fiber network deal with AT&T, which spurned it last year

By Steve Goldstein

Nokia on Tuesday said it's landed a contract with AT&T, which comes after the U.S. giant last year inked a major deal with its arch-rival Ericsson.

Nokia says it's signed a five-year agreement with AT&T to deploy next-generation fiber access technology that can handle up to 100G technology. Financial terms were not disclosed.

Nokia shares (FI:NOKIA) (NOK) edged up 0.3% on Tuesday. The stock has gained 31% this year, but is still about 9% below its year-end 2022 levels.

AT&T (T )last year signed a 5-year, $14 billion deal with Ericsson (ERIC) to deploy commercial scale open radio access network, over which it plans to have 70% of its wireless network traffic flow. That announcement led Nokia to lower its operating margin goals.

-Steve Goldstein

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09-03-24 0734ET

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