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Reuters
Reuters
Business

Nokia partners with internet giants, shares react

FILE PHOTO: The Nokia logo is seen on a smartphone in front of a displayed stock graph in this illustration taken February 5, 2021. REUTERS/Dado Ruvic/Illustration

Finnish telecom equipment maker Nokia on Monday announced it has partnered with Microsoft, Amazon web services and Google to develop new cloud-based 5G radio solutions with its radio access network (RAN) technology.

The goal of the partnerships is to develop new business cases, the company said in three separate statements.

"Open collaboration is key to the development of new and innovative high value 5G use cases that will equip our customers with the tools they need for digital transformation," Nokia President of Mobile Networks Tommi Uitto said.

Nokia shares were up over 4% in Helsinki at 1300 GMT. (This story refiles to correct executive name in paragraph 3, acronym of radio access network in paragraph 1)

(Reporting by Essi Lehto; editing by Niklas Pollard)

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