Nokia: extends T-Mobile contract for five years

(CercleFinance.com) - Nokia has extended its contract with T-Mobile for another five years, meaning that the Finnish company will continue to expand and upgrade the US mobile-phone giant's 5G network.


Under the new agreement, the telecom gear maker will help T-Mobile to upgrade its LTE network to 5G, while continuing to expand its 5G coverage.

The announcement comes after T-Mobile unveiled five-year, multi-billion-dollar agreements with both Nokia and Ericsson to continue advancing its 5G network.

Since Sprint became part of the carrier, T-Mobile is the US 5G leader with the most advanced network.

Nokia said that the outlook it provided in last October included the expected impact of the deal with T-Mobile. The shares were still up over 3% on the news.

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