Nokia Oyj (NYSE:
NOK) is
one of the top high-return penny stocks to consider buying now. On July 16, the company secured a contract for the deployment of a private 5G wireless network for Memphis Light, Gas, and Water (MLGW), a utility provider.
Nokia (NOK) CEO Pekka Lundmark
Under the terms of the agreement, the company is to deploy a private 5G wireless network for three municipal utility providers. The deployment will allow Nokia to support MLGW’s multi-year modernization strategy across Memphis and Shelby County. The 5G network will also provide a foundation for connected mobility, voice, and video services.
In addition, MLGW will become the first municipal utility in the US to implement a full-scale, standalone 5G private wireless network, serving more than 420,000 customers. Nokia expects the 5G network to enhance data connectivity, resilience, and operational efficiency. To date, the Finnish provider has deployed a private wireless network for 890 customers. It has already ramped up the adoption of private 5G networks and neutral hosts across North America.
Nokia Oyj (NYSE:NOK) provides network infrastructure, software, and related services. It is a major player in the telecommunications industry, developing and selling equipment and solutions for mobile, fixed, and cloud networks.
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Disclosure: None. This article is originally published at
Insider Monkey.
