Monday, June 13, 2016

Nokia Agrees $1.5 billion Framework Deal with China Mobile

Nokia has signed a 1.36 billion euro ($1.5 bn) 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.

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