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Nokia wins 'multi-billion' dollar deal in India

Published 11/20/2024, 03:51 AM
Updated 11/20/2024, 03:55 AM
© Reuters. FILE PHOTO: A view shows Nokia headquarters in Espoo, Finland, October 19, 2023. JUSSI NUKARI/Lehtikuva/via REUTERS/File Photo
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HELSINKI (Reuters) - Finnish telecom equipment supplier Nokia (HE:NOKIA) on Wednesday said it had won a "multi-billion" dollar deal with India's Bharti Airtel (NS:BRTI) for delivery of 4G and 5G equipment.

Sources familiar with the talks told Reuters last month Nokia and Bharti were nearing a deal worth several billion dollars to expand Bharti's network in India.

Nokia's Swedish rival Ericsson (BS:ERICAs) had already won a deal of similar size with Bharti earlier in October.

© Reuters. FILE PHOTO: A view shows Nokia headquarters in Espoo, Finland, October 19, 2023. JUSSI NUKARI/Lehtikuva/via REUTERS/File Photo

India last year helped Nokia and Ericsson offset weakness in demand from U.S. customers. However, the volume of orders from India slowed down significantly after a growth spurt last year.

Nokia's share price rose 3.1% by 0829 GMT.

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