Shares of Nokia (NOK) is holding strong amid the tech market volatility. The stock has recently reached a high of $5.10 the past week on news that Nokia is entering the blockchain business.
In addition, the future of Nokia is looking very bright. The company announced the achievement of a landmark for quillion-based solutions (used by 100+ clients), in short, the chipset by Nokia is optimized for low-latency applications that are critical for 5G and built-in programmability to support automated workflows such as network slicing and is deployed in 40 countries.
It’s also used in next-generation fiber and copper telecommunication networks, which helps to reduce both rack space and power consumption by 50% in fiber installations.
Nokia is well positioned for the ongoing technology cycle given the strength of its end-to-end portfolio. The company’s deal win rate is encouraging with notable successes in the key 5G markets of the United States and China.
Nokia also announced it is providing the 7220 Interconnect Router (IXR) for data center switching platforms and SR Linux, its network operating system (NOS), to OpenColo. This will give OpenColo the scalable data center switching it needs to support its growing colocation and hosting operations to support future 5G, AI and IoT services.
Nokia receives $97M from Ericsson
Based on previous litigations, Nokia is set to receive $97 million as settlement for damages caused by Ericsson.
The settlement will affect Ericsson’s Q2 2023 EBIT and cash flow by €80 million and €26 million, respectively. The remainder of the settlement amount will be made in similar installments in 2023 and 2023, impacting the cash flow and will be recorded as “Other Operating Expenses.”