China Unicom Partners With Nokia to Accelerate 5G Development
China Unicom (Hong Kong) Ltd. (NYSE: CHU) will use Nokia's optical fronthaul solution to deliver on its 4G and 5G networks this year.
The Finnish telecommunication giant Nokia Corp. (NYSE: NOK) said in a statement this week that its fronthaul technology belongs to Nokia end-to-end 5G portfolio. The solution will speed up the deployment of 4G as well as 5G radios and simplify the installation and management of the network at lower costs, it said.
"We share China Unicom's vision and commitment to creating this world-leading 5G service for its customers," Bo Gao, head of the China Unicom customer business team at Nokia Shanghai Bell Labs, said in the statement.
He added, "The optical fronthaul solution will be key to providing top notch performance for China Unicom's 4G/5G subscribers."
China Unicom is seeking to achieve its 5G goals in 2019. The company is racing China Mobile Ltd. (NYSE: CHL), which recently announced it will set up a 5G industry fund of $4.4 billion and roll out commercial 5G services in 50 cities in China by the end of the year.
The stock in China Unicom closed at $10.76 per American depository share Wednesday, down 2 cents.
Stocks Drop on Rising Coronavirus Concerns
Nio to Sell an Additional $100 Million Bonds to Two Asian Funds
Semiconductor Manufacturing Up 5% on Improved Revenues
Your Week In Brief
Huize Raises $55.1 Million in IPO, Exceeds Issuance Price Early
China Jo-Jo Down 3% Despite Turn to Profit in Fourth Quarter