What's Going On With Wipro Shares After Nokia Team-Up?

Shares of Wipro were gaining on Tuesday after the Indian IT major inked a partnership with telecom firm Nokia for wireless 5G.

What Happened: Wipro and Nokia Corporation will collaborate to introduce a private 5G wireless solution aimed at facilitating enterprises in their journey of digital transformation, according to a press release from by Wipro on Monday.

This solution will initially cater to companies operating in sectors such as manufacturing, energy, utilities, transportation and sports entertainment.

Key Features: The joint solution integrates enterprises’ 5G private network with their operational infrastructure, promising accelerated connectivity speeds, real-time access to business data and efficient processing of large volumes of data with minimal latency.

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Companies leveraging the 5G network will have the capability to establish an integrated private environment to manage performance and address security concerns effectively.

Wipro highlighted that the combination of speed and security offered by this new technology, along with AI-driven automation, will enable companies to enhance their operational efficiencies significantly.

As part of the collaboration, Nokia will contribute its Nokia digital automation cloud (DAC) and modular private wireless (MPW) solutions, encompassing both hardware and software components. These offerings include 4G LTE and 5G coverage, allowing users to build and deploy private network solutions.

Wipro, on the other hand, will provide strategic guidance for enterprises in integrating these systems, leveraging its Austin-based innovation centre focused on 5G solutions and its OTNxt Platform, an end-to-end managed service covering operational technology and Internet of Things (IoT) systems.

Price Action: Wipro’s share price was up 0.75% at ₹536.90 near the start of trading on Tuesday.

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