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Nokia Corporation (NYSE:NOK) shares are trading lower premarket Tuesday. The company disclosed a collaboration with CommScope Holding Company, Inc.‘s (NASDAQ:COMM) RUCKUS Networks to develop a solution for seamless in-building and campus-wide connectivity.
This partnership is expected provide an integrated fiber and Wi-Fi solution tailored to various industry needs, including MDUs, offices, large venues, hospitality, and medical facilities.
The collaboration integrates Nokia’s fiber-based Optical LAN with RUCKUS Networks’ enterprise Wi-Fi and switching technologies, creating an integrated infrastructure.
Sandy Motley, President of Fixed Networks at Nokia, said, “Fiber is a fantastic technology with a wide range of benefits. As an Optical LAN, it can reduce energy costs by 40% and TCO by as much as 50%.”
“When combined with RUCKUS’s industry-leading Wi-Fi portfolio, we are creating a campus connectivity solution that will allow enterprises to grow their business, reduce their costs, and be more sustainable.”
Last month, Nokia denied reports of selling its mobile network business and stated that it is dedicated to the success of its mobile network business.
Investors can gain exposure to the stock via iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:IDGT) and Defiance Connective Technologies ETF (NASDAQ:SIXG).
Price Action: NOK shares are down 1.35% at $4.40 premarket at the last check Tuesday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
