Nokia's US shares rise after T-Mobile says no plans to stop partnership [Yahoo! Finance]
AT&T Inc. (T)
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Source: Yahoo! Finance
Nokia shares closed down around 7% after Earl Lum of EJL Wireless Research said in a LinkedIn post there is a chance that Nokia could be dropped by T-Mobile in favor of Swedish firm Ericsson. "We have made no decision to end our working relationship with Nokia, and any reports in the media implying this are untrue," T-Mobile said in a statement. Lum pointed in the post to Nokia's inability to deliver on T-Mobile's networking needs and the superiority of Ericsson's products. "T-Mobile works with both Nokia and Ericsson on our RAN, who have helped us over the years build the largest and fastest 5G network in the nation," T-Mobile said. Last year, telecom rival AT&T chose Ericsson to build a telecom network, which will cover 70% of its wireless traffic in the U.S. by late 2026, eroding the presence of Nokia in the North American market. (Reporting by Zaheer Kachwala in Bengaluru)
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