(Reuters) – U.S.-listed shares of Nokia jumped round 5% in prolonged buying and selling on Tuesday after T-Cell stated it has no plans to cease working with the Finnish firm in a response to an analyst report claiming such a chance.
Nokia shares closed down round 7% after Earl Lum of EJL Wi-fi Analysis stated in a LinkedIn put up there’s a probability that Nokia might be dropped by T-Cell in favor of Swedish agency Ericsson.
“We’ve made no resolution to finish our working relationship with Nokia, and any reviews within the media implying this are unfaithful,” T-Cell stated in an announcement.
Lum pointed within the put up to Nokia’s incapacity to ship on T-Cell’s networking wants and the prevalence of Ericsson’s merchandise.
“T-Cell works with each Nokia and Ericsson on our RAN, who’ve helped us over time construct the most important and quickest 5G community within the nation,” T-Cell stated.
Final yr, telecom rival AT&T selected Ericsson to construct a telecom community, which can cowl 70% of its wi-fi visitors within the U.S. by late 2026, eroding the presence of Nokia within the North American market.
(Reporting by Zaheer Kachwala in Bengaluru)