Nokia (NOK) stock Is higher in early trading Friday after reports the company has been selected to lead car carrier vessel digital transformation for Kawasaki Kisen Kasha Ltd.
Here's Why Nokia is Down Today
Nokia stock is higher after the company announced the deal to provide 4G/LTE network solutions for Kawasaki Kisen Kasha's next car carrier, Century Highway Green. Donny Janssens, the head of the consumer team for Nokia Enterprise Japan said in a press release, " Through deployment of the field area network, we're helping "K" LINE not only to enhance operational efficiency and industrial safety, but also to advance it's digital transformation."
Janssens added that this is the first deployment of Nokia's 4G/LTE technology in Japan.
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Nokia is a leading vendor in the telecommunications equipment industry. The company's network business derives revenue from selling wireless and fixed-line hardware, software, and services. Nokia's technology segment licenses its patent portfolio to handset manufacturers and makes royalties from Nokia-branded cellphones. The company, headquartered in Espoo, Finland, operates on a global scale, with most of its revenue from communication service providers.
