Exclusive-Nokia To Supply 5G Radio Equipment To Portugal's MEO, Sources Say By Reuters | Old North State Wealth News
Connect with us

Investing

Exclusive-Nokia to supply 5G radio equipment to Portugal’s MEO, sources say By Reuters

Published

on

By Abhinav Parmar and Supantha Mukherjee

(Reuters) – Nokia (HE:) is set to win a contract to supply 5G radio equipment to Portuguese telecoms operator MEO, according to an internal Nokia blog post and two sources familiar with the matter.

Nokia is set to secure the deal even though China’s Huawei has been MEO’s sole supplier of 2G, 3G and 4G Radio Access Network (RAN) equipment.

The contract has been agreed upon but not yet signed, and an announcement is likely to come as early as next month, according to the sources.

MEO is one of Portugal’s leading mobile operators formerly known as Telecom Portugal and now owned by France’s Altice.

“In recent years, MEO … has been supplied in RAN only by Huawei. In other words, Huawei has had a 100% market share in 2G/3G/4G. We have now been selected to replace Huawei in some of the key markets in Portugal,” Tommi Uitto, president of Nokia’s mobile networks, wrote in an internal blog seen by Reuters.

A Nokia spokesperson declined to comment, as did Huawei. MEO did not immediately respond to a request for comment.

RAN equipment has generated the bulk of telecom sales for the likes of Huawei, Nokia and its Swedish rival Ericsson (BS:) but a fall in demand for new equipment from telcos since last year has hit Nokia and Ericsson, prompting them to cut thousands of jobs.

The global RAN market is expected to decline 5-8% in 2024, according to research firm Dell (NYSE:)’Oro.

Huawei, which was banned in the U.S. and several European countries over security concerns, still has some presence in Europe and a major share in the fast-growing telecom market in China.

The deal would mark Nokia’s return to Portugal’s RAN market after it lost market share there to Huawei many years ago and has not supplied any communications service providers with RAN in the country since then, Uitto wrote in the internal blog seen by Reuters.



Read the full article here

Trending

Copyright © 2022 ONSWM News. Content posted on the Old North State Wealth News page was developed and produced by a third party news aggregation service. Old North State Wealth Management is not affiliated with the news aggregation service. The information presented is believed to be current. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date the articles were published. The information presented is not an offer to buy or sell, or a solicitation of any offer to buy or sell, any of the securities discussed.