Nokia to Help Sri Lanka Telecom Bring High-Speed Broadband

Nokia Corporation NOK partnered with Sri Lanka Telecom PLC (“SLT”), the national telecommunications services provider in Sri Lanka. The company will help SLT to deploy a fiber-to-the-home (FTTH) network driven by Nokia’s fiber technology. SLT is extending its broadband footprint to cater to growing data demand from customers.

Reinforcing its accelerated Fiber Expansion Project, the latest move enables SLT to bring high-speed broadband services to more than 200,000 businesses and consumers. The Fiber initiative of SLT is aimed toward developing 2 million FTTH ports by 2022, connecting households, organizations and government to ultra-high-speed broadband with the lowest latency.

Owing to Nokia’s fiber solution, SLT will be able to provide customers with unparalleled download and upload speeds coupled with enhanced broadband services backed by XGS-PON technology. Notably, Nokia has 26 XGS-PON and 300 GPON deployments around the world.

The solution will help build SLT’s network by enabling it to evolve to virtualization and Software-Defined Access Networks. Nokia seeks to expand its business into targeted, high-growth and high-margin vertical markets to address opportunities beyond its primary markets. The company had earlier announced plans to accelerate strategy execution, sharpen customer focus and reduce long-term costs.

Meanwhile, Nokia is developing its 5G portfolio, strengthening AirScale and advancing the capabilities of its ReefShark chipset. The company is working with multiple partners to support its ReefShark family of chipsets, which are used in many base station elements. Nokia is witnessing a healthy momentum in its focus areas of software and enterprise, which augurs well for its licensing business.

Recently, Nokia furthered its leadership in open solutions by ramping up the adoption of Open RAN (O-RAN) interfaces in its AirScale portfolio. The Finland-based telecom equipment maker is committed to the advancement of open mobile by investing in O-RAN and Cloud RAN solutions. The company also announced the next-generation of its AirScale Cloud RAN portfolio.

Nokia has a long-term earnings growth expectation of 15.6% compared with 14.8% of the industry. The stock has returned 24.8% compared with the industry’s growth of 11.7% in the past three months.

Nokia currently carries a Zacks Rank #2 (Buy) and has a VGM Score of B.

Some other top-ranked stocks in the broader industry are Turtle Beach Corporation HEAR, T-Mobile US, Inc. TMUS and Ooma, Inc. OOMA. While Turtle Beach and T-Mobile sport a Zacks Rank #1 (Strong Buy), Ooma carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Turtle Beach has a trailing four-quarter positive earnings surprise of 46.4%, on average.

T-Mobile has a trailing four-quarter positive earnings surprise of 19.4%, on average.

Ooma has a trailing four-quarter positive earnings surprise of 228.2%, on average.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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