Featured Company News - Nokia Technologies Business to be Streamlined; Deploys Cable Network with WOW!
ACCESS Newswire
LONDON, UK / ACCESSWIRE / October 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Nokia Corp. (NYSE: NOK), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=NOK. The Company announced on October 10, 2017, that it plans to unify the focus of Nokia Technologies on digital health and accelerate its focus in the market while optimizing investments in virtual reality (VR). Nokia Technologies will also focus on growing brand and technology licensing while leaving its successful patent licensing business untouched. The Company has been recently enabling infrastructure for 5G and the Internet of Things and developing emerging applications in digital health. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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This movement in terms of the business unification is observed as an action upon the Company's commitment to fully leverage its digital health portfolio, acquired through the purchase of Withings in 2016. The Company, through a far agiler digital health business, aims to have a large impact on consumers and the medical community.
Nokia plans to focus more on technology licensing opportunities and reduce investments owing to a slower than expected development of the VR market. The unit aims to stop further development of the versions of the OZO VR Camera and hardware while maintaining commitments to existing customers.
The potential reductions are expected to affect up to 310 of the 1,090 employees in Nokia Technologies, primarily in Finland, the US, and the UK. To initiate the process, the Company has invited employee representatives of Nokia Technologies in Finland for the negotiations. The Company admits that the changes will affect its employees, and as a responsible Company, it would provide the needed support to those affected.
The Distributed Access Architecture Plan
Nokia and WOW! (NYSE:WOW), which is one of the United States' leading broadband providers, announced on October 10, 2017, the deployment of the industry's first virtualized Distributed Access Architecture (vDAA) deployment. Nokia's Unified Cable Access solution will increase the capacity of WOW's existing Hybrid Fiber-Coaxial network, helping it to meet the ever-increasing bandwidth demands of subscribers, and adapting to the evolutionary ways the multimedia content is consumed, hence, delivering a better internet experience.
The Company's Unified Cable Access solution enables a fully distributed virtualized access architecture that can increase the capacity of the existing HFC infrastructures while also eliminating the cable-specific hardware from head-ends and hubs, hence reducing the space and power requirements significantly. The architecture also enables Multiple System Operators to rapidly deploy new services and cost-effectively migrate their networks to a software-driven, all-IP architecture.
WOW! is one of the nation's leading broadband providers serving residential, business, and wholesale customers in Illinois, Michigan, Indiana, Ohio, Kansas, Maryland, and the Southeast. With an expansive portfolio of advanced services including high-speed Internet, data, voice, cloud, and cable television services, the Company is dedicated to delighting customers with friendly, quality service at affordable prices. This network transformation will enable the broadband provider to drastically reduce operating expenses while offering the architecture needed to deliver multi-gigabit services to customers using their existing coaxial cable, in deploying the Unified Access Solution and the vDAA.
Last Close Stock Review
On Wednesday, October 11, 2017, the stock closed the trading session at $5.88, slightly slipping 0.68% from its previous closing price of $5.92. A total volume of 7.70 million shares have exchanged hands. Nokia's stock price rallied 11.36% in the past six months and 9.09% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 22.25%. The stock has a dividend yield of 3.06%. At Wednesday's closing price, the stock's net capitalization stands at $34.37 billion.
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