Nokia Corp. (NYSE:NOK) Siemens Networks has snared an Optus network contract.

Nokia Corp. (NYSE:NOK) Snaps Up New Contract

Nokia Corp. (NYSE:NOK) Siemens Networks has teamed up with Optus, in order to upgrade Optus’s packet core, ahead of an anticipated upgrade to Long Term Evolution (LTE) technology.

Optus will deploy Nokia Corp. (NYSE:NOK) Siemens Networks’ evolved packet core in an attempt to increase its presence in the mobile broadband market, allowing the telco to introduce new data services.

Kalevi Kostiainen, the head of Australia and New Zealand at Nokia Corp. (NYSE:NOK) Siemens Networks said that, “With the increasing use of data and smartphone applications, our Evolved Packet Core provides a springboard to operators such as Optus to launch new services.”

Nokia Corp. (NYSE:NOK) shares were at 8.59 at the end of the last day’s trading. There’s been a -22.0% change in the stock price over the past 3 months.

Nokia Corp. (NYSE:NOK) Analyst Advice
Consensus Opinion: Moderate Sell
Mean recommendation: 3.17
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 3.03
Zack’s Rank: 2 out of 24 in the industry