How T-Mobile and Nokia Are Looking to Get the Jump on 5G
Nokia shares made a handy gain on Monday after the company announced that it would be joining forces with T-Mobile to deploy a nationwide 5G network. T-Mobile will be paying $3.5 billion to get a jumpstart on the next generation…
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Nokia Corp. (NYSE: NOK) shares made a handy gain on Monday after the company announced that it would be joining forces with T-Mobile US Inc. (NASDAQ: TMUS) to deploy a nationwide 5G network. T-Mobile will be paying $3.5 billion to get a jump-start on the next generation of wireless networks in the United States.
In terms of the breakdown, Nokia will provide T-Mobile with its complete end-to-end 5G technology, software and services portfolio, assisting in its efforts to bring its 5G network to market for customers in the critical first years of the 5G cycle.
As part of the agreement, Nokia will help build T-Mobile’s nationwide 5G network with 600 MHz and 28 GHz millimeter wave 5G capabilities compliant with 3GPP 5G New Radio (NR) standards.
Using 5G, Nokia and T-Mobile will develop, test and launch the next generation of connectivity services that will cover a wide range of industries, including enterprise, smart cities, utilities, transportation, health, manufacturing, retail, agriculture and government agencies.
Neville Ray, chief technology officer at T-Mobile, commented:
We are all in on 5G. Every dollar we spend is a 5G dollar, and our agreement with Nokia underscores the kind of investment we’re making to bring customers a mobile, nationwide 5G network. And together with Sprint, we’ll be able to do So. Much. More.
Shares of Nokia were last seen trading up about 2% at $5.53, with a consensus analyst price target of $6.58 and a 52-week range of $4.51 to $6.59.
T-Mobile shares were up less than 1% at $59.94 in a 52-week range of $54.60 to $66.52. The consensus price target is $76.74.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
