ANL 23.10 Decreased By ▼ -0.70 (-2.94%)
ASC 16.10 Decreased By ▼ -0.30 (-1.83%)
ASL 22.25 Decreased By ▼ -0.40 (-1.77%)
BOP 8.55 Increased By ▲ 0.17 (2.03%)
BYCO 8.96 Increased By ▲ 0.15 (1.7%)
FCCL 18.07 Decreased By ▼ -0.40 (-2.17%)
FFBL 24.45 Decreased By ▼ -0.15 (-0.61%)
FFL 17.90 Decreased By ▼ -0.15 (-0.83%)
FNEL 8.40 Decreased By ▼ -0.14 (-1.64%)
GGGL 22.09 Decreased By ▼ -0.21 (-0.94%)
GGL 43.18 Decreased By ▼ -0.77 (-1.75%)
HUMNL 7.02 Decreased By ▼ -0.15 (-2.09%)
JSCL 20.85 Decreased By ▼ -0.73 (-3.38%)
KAPCO 37.90 Decreased By ▼ -0.20 (-0.52%)
KEL 3.61 Increased By ▲ 0.01 (0.28%)
MDTL 3.00 Decreased By ▼ -0.07 (-2.28%)
MLCF 36.30 Decreased By ▼ -0.18 (-0.49%)
NETSOL 153.30 Decreased By ▼ -4.45 (-2.82%)
PACE 5.98 Decreased By ▼ -0.03 (-0.5%)
PAEL 31.20 Decreased By ▼ -0.45 (-1.42%)
PIBTL 9.36 Decreased By ▼ -0.11 (-1.16%)
POWER 7.90 Decreased By ▼ -0.14 (-1.74%)
PRL 20.85 Decreased By ▼ -0.13 (-0.62%)
PTC 10.40 Increased By ▲ 0.02 (0.19%)
SILK 1.67 Decreased By ▼ -0.02 (-1.18%)
SNGP 43.19 Decreased By ▼ -0.56 (-1.28%)
TELE 22.06 Decreased By ▼ -0.64 (-2.82%)
TRG 173.50 Decreased By ▼ -2.41 (-1.37%)
UNITY 36.20 Decreased By ▼ -0.77 (-2.08%)
WTL 3.25 Decreased By ▼ -0.08 (-2.4%)
BR100 4,979 Decreased By ▼ -47.44 (-0.94%)
BR30 24,460 Decreased By ▼ -312.8 (-1.26%)
KSE100 46,636 Decreased By ▼ -284.38 (-0.61%)
KSE30 18,480 Decreased By ▼ -177.85 (-0.95%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,206
7124hr
Pakistan Cases
1,223,841
2,58024hr
4.69% positivity
Sindh
450,126
Punjab
421,800
Balochistan
32,757
Islamabad
104,114
KPK
171,072

Finnish network equipment maker Nokia has secured a multi-year contract to boost the capacity of one of India's largest mobile operators, the firm announced on Tuesday.

The deal, which an industry source told AFP is valued at almost $1 billion (924 million euros), will see Nokia deploy 300,000 new radio units across the country by 2022, boosting network capacity and preparing the ground for the move to next-generation 5G, Nokia said in a statement.

"This is an important agreement for the future of connectivity in one of the world's largest telecoms markets and solidifies our position in India," outgoing CEO Rajeev Suri said.

With a population of 1.3 billion, India is the world's second largest telecoms market, which Nokia predicts will grow to 920 million unique mobile customers within five years as online demand soars.

The deal comes after a punishing six months for the Finnish networks giant after it downgraded its 2020 earnings forecast last October as attempts to break into the 5G equipment market faltered in the face of fierce competition from Huawei and Ericsson.

Nokia went on to beat expectations in a "challenging" 2019 and in February posted its first full-year net profit since 2015 of 7 million euros, before announcing a change of CEO in March.

Earlier this month Nokia's share price surged 12.5% on the basis of media reports that the firm was raising finance against a hostile takeover bid, a claim the equipment maker refused to comment on.

Copyright Agence France-Presse, 2020

Comments

Comments are closed.