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Nokia, AT&T ink deal
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November 30, 2000: 11:30 a.m. ET
Finnish cell phone maker to supply AT&T Wireless with network systems
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LONDON (CNNfn) - Nokia Corp., the world's largest mobile phone supplier, said on Thursday it had inked a deal with AT&T Corp. Wireless Group to supply the U.S. telecom operator with high-speed network systems, expanding the Finnish firm's reach in the U.S. market.
The deal was "one of the most significant deals for Nokia in its history, not only in terms of value, but it also strengthens our market position in the U.S. infrastructure sector," Nokia spokeswoman Arja Suominen said. She declined to put a value on the deal.
AT&T Wireless (AWE: Research, Estimates), the third-biggest mobile phone operator in the United States, will buy Nokia's radio network technology, enabling it to offer advanced multimedia and data services through mobile devices.
Nokia (NOK: Research, Estimates) shares were down 3 percent at  48.15 in Helsinki amid a broad tech sell-off across European and U.S. markets. In midday trading Thursday on the New York Stock Exchange, shares of AT&T Wireless rose 50 cents to $18.37.
Nokia said the deal will expand the GSM standard in the U.S. market where it is less widely used than in Europe and Asia.
The network systems will be triple-mode, in the Global System for Mobile Communications (GSM) and higher speed transmission standards Enhanced Data rates for Global Evolution (EDGE), and Universal Mobile Telecommunication Standard (UMTS). 
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Nokia
AT&T Wireless
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