Nokia (NOK) Secures Landmark Deal to Deploy First Full-Scale Municipal 5G Network in U.S.

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.

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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 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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This article is originally published at Insider Monkey.