Yahoo Finance Nokia (NOK) to Upgrade Red Electrica's Communications Network
Nokia Corporation NOK recently announced that it will provide Red Electrica de Espana (REE) with an IP/MPLS network and Dense Wave Division Multiplexing (DWDM) optical transport network.
REE is the Spanish electricity transmission system operator. Its 800-site network is used to manage a nationwide transmission grid. The modernized network will support its grid operations and boost the digital transformation of Red Electrica’s operations.
Nokia has worked with REE for several years to prepare for this migration. The deal win underscores Nokia’s commitment to the energy sector for an electrified future.
The company’s IP/MPLS and optical transport networks will improve efficiency, expand broadband services and enable distribution of renewable power. It will support applications that will be critical in IoT-based asset management and energy distribution.
Its network support services such as sub-station communications and low-latency communication of IoT sensor data for measurement. While the core networks will be based on Nokia’s IP/MPLS portfolio, the optical transport network will leverage its DWDM portfolio.
Nokia’s Network Services Platform will be utilized to provide efficient management capabilities across network layers. The transport of all services will be implemented over the IP/MPLS network.
Nokia is well positioned to benefit from the increasing demand for next-generation connectivity. The company is on track to achieve sustainable and profitable growth as well as technology leadership.
Nokia’s shares have gained 37.9% in the past six months compared with the industry’s growth of 2.2%.
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The stock currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader industry are Motorola Solutions, Inc. MSI, United States Cellular Corporation USM and Cogent Communications Holdings, Inc. CCOI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Motorola has a trailing four-quarter earnings surprise of 11.6%, on average.
U.S. Cellular has a trailing four-quarter earnings surprise of 123.9%, on average.
Cogent has a trailing four-quarter earnings surprise of 29%, on average.
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