HELSINKI – On Wednesday, Nokia (NYSE: NOK), the Finnish telecom equipment supplier, said it had won a “multi-billion” dollar deal with India’s Bharti Airtel for delivery of 4G and 5G equipment.
Last month, sources familiar with the talks told Reuters that Nokia and Bharti were nearing a deal worth several billion dollars to expand Bharti’s network in India.
Nokia’s Swedish rival Ericsson (NASDAQ: ERIC) had already won a deal of similar size with Bharti earlier in October.
Last year, India helped Nokia and Ericsson offset weakness in demand from U.S. customers. However, the volume of orders from India slowed down significantly after a growth spurt last year.
Nokia’s (NYSE: NOK) share price rose 4.13% by 0800 EST.
