Nokia has just announced a deal worth $3.5 billion with T-Mobile to develop a nationwide 5G network. This should be good news for Nokia as their Q2 result showed low performance.
The deal is reported to cost T-Mobile about $3.5 million and it includes hardware, software and services to develop and deploy a nationwide 5G network on the T-Mobile network.
Due to the merger between T-Mobile and Sprint, customers on the Sprint network should also expect to get the 5G network once it’s available on the T-Mobile network. The network involves both wide-coverage 600MHz bands and the high-capacity 28GHz millimetre wave bands.
Based on the new deal signed, Nokia released a report stating the optimism for the next quarter of business. The figures expected might be an operating margin of 9-11% for the full year with earnings per share of €0.23-0.27. Let’s hope these numbers are realized following the 5G network deal.