Nokia Signs $1.5 Billion Framework Deal With China Mobile
Nokia has signed a 1.36 billion euro ($1.5 bln) one-year framework deal with China Mobile, the Finnish company said on Monday, easing fears that it would lose market share while it merges operations with Alcatel-Lucent.
Shares in the company were up 0.2 percent as of 1120 GMT versus a Helsinki bourse down 1.42 percent.
Nokia's network equipment sales fell more than expected in the first quarter as buyers held off due to the Alcatel integration process.China Mobile is Nokia's biggest customer in China.
"In the light of this announcement, China is not the market which one should be very worried about this year. They've managed to hold on to the positions of old Nokia and old Alcatel," said Nordea analyst Sami Sarkamies, who holds a 'buy' rating on the stock.
He added that N...