US Stock Market Move | Nokia Oyj Sponsored ADR (NOK.US) rose by 5% and will sell its FWA CPE business for $20 million.
On Monday, Nokia (NOK.US) rose 5%, to $13.46.
On Monday, Nokia Oyj Sponsored ADR (NOK.US) rose 5% to $13.46. In terms of news, Nokia Oyj Sponsored ADR recently announced a stock deal worth around $20 million (approximately 140 million RMB) to sell its FWA CPE (Fixed Wireless Access Customer Premises Equipment) business to Inseego, headquartered in San Diego. This transaction will help Nokia Oyj Sponsored ADR divest a non-core asset while bringing approximately $200 million in annual revenue to Inseego.
This sale stems from the new strategic direction announced by Nokia Oyj Sponsored ADR in November last year. At that time, Nokia Oyj Sponsored ADR stated its focus on "supporting the infrastructure of the artificial intelligence supercycle" and identified several businesses that no longer align with this strategy as "portfolio businesses" to be sold, including the FWA CPE division.
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