Nokia Corporation’s NOK IMPACT (Intelligent Management Platform for All Connected Things) IoT platform has been selected by Optus to provide device management and data collection capabilities to its customers. The companies have joined forces to help create smart cities and support enterprise customers across industries, including mining, utilities and transportation. Nokia has deployed more than 1,300 mission-critical networks with customers across different sectors.
The Finland-based company has a long-standing business relationship with Optus, a leading Australian network operator. Nokia is working with the operator to maintain its network infrastructure. The companies launched Australia’s first 5G commercial services in early 2019. They also introduced a 5G Fixed Wireless Access service using the 5G New Radio standard. Nokia’s IMPACT IoT platform covers connectivity, data collection, analytics and business application development, apart from device and service management.
Australia’s IoT market is estimated to grow to $25 billion by 2024. In this project, Nokia’s IoT Device Management Platform will enable Optus to provide its customers with access to Narrow Band-IoT device data. With IMPACT, service providers, enterprises and governments can attract more customers, develop new business models and boost their competitive position in the market. The platform addresses a fragmented and complex IoT ecosystem comprising disparate applications and devices.
Nokia will enable Optus to expand its offering in asset-intensive industries, helping its customers to leverage the efficiency of IoT. The company is uniquely positioned to help governments, communication service providers and large enterprises deliver on the promise of smart cities. It has the right assets to partner with machine-to-machine service providers, enterprises, utility providers and public administrations to build the infrastructure for IoT.
Meanwhile, Nokia is making progress in its Mobile Access business while enhancing cash generation. The company aims to accelerate its product roadmaps and cost competitiveness through additional 5G investments in 2020. Nokia is witnessing a healthy momentum in its focus areas of software and enterprise, which augurs well for its licensing business.
The stock has returned 26.3% in the past six months compared with 45.5% growth of the industry. The company has a long-term (three to five years) earnings growth expectation of 15.6% compared with the industry’s 15%.
Nokia carries a Zacks Rank #3 (Hold), at present.
Some better-ranked stocks in the broader industry are Turtle Beach Corporation HEAR, Vocera Communications, Inc. VCRA and Acacia Communications, Inc. ACIA, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Turtle Beach delivered a trailing four-quarter positive earnings surprise of 41%, on average.
Vocera delivered a trailing four-quarter positive earnings surprise of 70%, on average. The company’s earnings beat the Zacks Consensus Estimate in three of the last four quarters.
Acacia pulled off a trailing four-quarter positive earnings surprise of 17%, on average. The company’s earnings topped the consensus estimate in three of the last four quarters.
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