AT&T Selects Ericsson Over Nokia for $14 Billion Telecom Network Deal

The decision sends Nokia's shares to a three-year low while boosting Ericsson's, marking a significant shift in the telecom industry.

AT&T has chosen Ericsson over Nokia to build a new telecom network in the U.S., a deal that could be worth nearly $14 billion over five years.
Ericsson will manufacture 5G equipment for the project at its factory in Lewisville, Texas.
The new network will use open radio access network (Open RAN) technology, which is expected to cut costs for telecom operators by using cloud-based software and equipment from multiple suppliers.
Nokia's shares fell to a three-year low following the announcement, while Ericsson's shares rose.
Nokia expects its revenue from AT&T in its mobile networks division to decrease over the next two to three years.