T-Mobile and Nokia on Monday announced a $3.5 billion agreement to accelerate the deployment of a nationwide 5G network.
Nokia will provide T-Mobile with its complete end-to-end 5G technology, software and services portfolio, assisting the Un-carrier in its efforts to bring its 5G network to market in the first years of the 5G cycle.
The deal, which follows earlier announcements about the cooperation, will satisfy the investors of the Finish company , which had weak results in the past couple of quarters.
"It's our largest 5G deal to date, and in fact, one of the largest deals Nokia's ever signed," Phil Twist, vice president for marketing at Nokia's Mobile Networks unit, said by phone. "This underlines and makes concrete that 5G is coming to the market."
In a separate statement, Nokia said that its outlook included the impact of the T-Mobile agreement.
The U.S. and China have been early adopters of the next-generation mobile technology, and all major U.S. operators have announced plans to deploy 5G, which boasts download speeds and capacity that will enable everything from autonomous vehicles to remote surgery and traffic control. Nokia and its Swedish rival Ericsson AB are in prime positions to benefit from investments in the new infrastructure as their main competitor, China's Huawei Technologies Co., is all but blocked from supplying equipment to U.S. carriers.