Benzinga | Aug 23, 2021 01:21PM EDT

Nokia Scoops 5G Contracts In Newer Markets

* A1 Telekom Austria Group (A1) has chosen Nokia Oyj (NYSE:NOK) to extend its 5G footprint outside of Austria into Bulgaria, Serbia, and Slovenia.

* Nokia will provide 5G RAN solutions from its AirScale portfolio to Bulgaria, Serbia, Slovenia, and a 5G Standalone core network to Serbia and Slovenia.

* The deployment is already underway in Bulgaria and is likely to start imminently in all other markets.

* Nokia is already providing 5G coverage across Austria.

* Nokia will provide equipment from its AirScale portfolio, including 5G RAN and other Nokia AirScale radio access products.

* Nokia will support A1 to cover the significant populated communities and main roads within the next five years.

* Recently, Telefonaktiebolaget L M Ericsson (NASDAQ:ERIC) won 5G contracts in China, beating Nokia.

* Price Action: NOK shares traded higher by 2.37% at $6.04 on the last check Monday.