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Nokia wins 'multi-billion' dollar deal in India

India last year helped Nokia and Ericsson offset weakness in demand from US customers

Published: Wed 20 Nov 2024, 12:48 PM

  • By
  • Reuters

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Image used for illustrative purpose. Photo: File

Image used for illustrative purpose. Photo: File

Finnish telecom equipment supplier Nokia on Wednesday said it had won a "multi-billion" dollar deal with India's Bharti Airtel 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 had already won a deal of similar size with Bharti earlier in October.

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

Nokia's share price rose 3.1 per cent by 8.29am GMT.

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