Nortel signs $2bn contract with Verizon Wireless to upgrade high speed network
Nortel Networks Corp. (NT) announced that the company has entered into a five year contract with Verizon Wireless, worth $2 billion to improve its high-speed network.
The largest manufacturing company of telephone equipment in North America, NT has signed $2bn contract with Verizon wireless. According to company sources, this contract will enable Verizon Wireless
to offer customers faster access of music and video features. This deal will allow Verizon Wireless to expand its network in the US.
According to Richard Lowe, president of Nortel Networks’, Nortel is allowing Verizon to expand its network and to competitively drive new services to market. Verizon Wireless is intending to install additional CDMA2000 radio base stations.
Via: New Ratings