Nokia Oyj (NYSE:NOK) Expanding Customer Base With The Launch Of New Projects

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A lot is happening at Nokia Oyj (NYSE:NOK). Since the Finnish company sold its mobile handset division to Microsoft, it has operated under the rudder. However, there are reports of Nokia expanding customer base as it focuses on the LTE technology.

Long-Term Evolution (LTE) is a next-generation wireless communication technology that has numerous uses outside the internet. According to Developing Telecoms, an industry news outlet, Nokia is in talks with Elektro to upgrade its electrical grid. Elektro is the national power distributor of Brazil. Particularly, the Nokia contract will upgrade the electrical grid in the City of Atibaia, Sao Paulo.

Nokia expanding customer base in the wireless communications sector

The grid upgrade will involve connecting smart meters to the grid wirelessly in an effort to enhance reliability and efficiency. Particularly, a connection over the LTE network will enable grid automation. This way, Elektro will be able to pre-empt cases like blackout. Also, the automation will enable the power company to restore electricity faster.

In essence, the LTE/4G wireless network will connect the smart meters, substations and distributed energy generation sources to operations centre. Therefore, instructions will relay over the network from operations centre to the devices located throughout the City of Abaia. Ultimately, customers will get high quality service alongside reliable power supply.

Developing Telecoms quotes Osvaldo Di Campli, head of Nokia Latin America who says the LTE solution is future-proof. He says:

“This private LTE deployment will provide the large-scale connectivity, extensive coverage and high-bandwidth service needed for Elektro to extend the reach of its network out into their distribution grid, making the grid much smarter.”

Nokia brand name rebounds

This is just one of the ways of Nokia expanding customer base in an industry less competitive than mobile handsets. Interestingly, even the sold off Nokia handsets division is performing exceptionally. Currently, the mobile handsets division is under HMD Global, a Finnish company.

As Gadgets360 reports, the company is making headway into the smartphone industry with some breathtaking products. In October, 2018, HMD launched Nokia X7 with superior functionalities in the mould of Samsung Galaxy A series. Gadgets360 further reports that the company is releasing a new model set to hit the market early 2019.

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