Nokia, T-Mobile US agree $3.5 bln deal, world's first big 5G award

T-Mobile US named Nokia to supply it with $3.5 billion in next-generation 5G network gear, the firms said on Monday, marking the world's largest 5G deal so far and concrete evidence of a new wireless upgrade cycle taking root. No.3 U.S. mobile carrier T-Mobile - which in April agreed to a merger with Sprint to create a more formidable rival to U.S. telecom giants Verizon and AT&T - said the multiyear supply deal with Nokia will deliver the first nationwide 5G services. The T-Mobile award is critical to Finland's Nokia, whose results have been battered by years of slowing demand for existing 4G networks and mounting investor doubts over whether 5G contracts can begin to boost profitability later this year.

from Yahoo Finance https://ift.tt/2M3sHsN