HELSINKI – Finnish telecom equipment provider Nokia has announced it has secured a “multi-billion” dollar deal with India’s Bharti Airtel for the delivery of 4G and 5G equipment.
Sources close to the negotiations revealed to Reuters last month that Nokia and Bharti were close to finalizing the agreement, which will help expand Bharti’s network in India.
Earlier in October, Nokia’s Swedish rival, Ericsson, had already secured a similar-sized deal with Bharti. Despite a slowdown in demand from U.S. customers, India has helped Nokia and Ericsson offset the decline. However, the volume of orders from India has noticeably decreased after a growth surge last year.
Following the announcement, Nokia’s stock price rose by 3.1% as of 0829 GMT.
