Nokia picks up 5G deal in China after a long time

During the past year or so, Nokia wasn’t so popular on the Chinese telco market since Finns mostly picked up jobs that Huawei needed to abandon in the EU or countries that stood next to the US in its trade fight against China. Swedish networking giant Ericson had better luck and got around 11% of 5G tenders in China. But, since its home country blocked Huawei from doing 5G business there, China reacted and awarded Nokia with 4% of the overall tender of China Mobile. I do need to mention that the worth of tender is about 6$ billion in total.
Ericson lost a large percentage of the tender and got awarded with just 2%. This percentage might seem like a nice deal, but it is not that much if we know that last year Ericson had 11% of the total 5G tender.
Anyways, Nokia will be sharing its earnings soon, and this comeback on the Chinese market will be greeted well among investors. There are still jobs to be done for China Unicom and China telecom where Ericsson, if it is chosen, could compensate the losses of China Mobile deal.

Source Reuters