Nokia wins contract for UK 5G network

BT Group

142.10p

15:45 15/11/24

1.50%

2.10p

Nokia secured a deal to supply radio equipment for the UK’s new 5G network alongside BT, the company announced on Tuesday.

Fixed Line Telecommunications

1,994.59

15:44 15/11/24

0.74%

14.70

FTSE 100

8,060.61

15:45 15/11/24

n/a

FTSE 350

4,453.56

15:45 15/11/24

n/a

FTSE All-Share

4,411.85

15:45 15/11/24

n/a

Nokia

1,848.50p

16:31 17/12/07

0.00%

0.00p

The deal will make Nokia BT’s largest equipment provider and comes just months after Britain refused to allow Chinese Huawei's involvement in the development of the next-generation network.

UK operators are not allowed to buy components from Huawei and from the end of 2020 must begin to remove all the existing gear from their networks by 2027.

The size of the contract is not yet known but Nokia has won 63% of the BT contract, or about 11,600 radio sites, reported Reuters.

Nokia, which currently powers BT’s network in Greater London, the Midlands and rural locations, will be added to multiple towns and cities across the United Kingdom thanks to the new contract.

This is just the latest in contracts won by Nokia from operators across the world. It recently lost one to Samsung Electronics to supply 5G equipment to Verizon.