Nokia Shares Surge After T-Mobile Reaffirms Partnership

(Reuters) – U.S.-listed shares of Nokia (HE:NOKIA) jumped around 5% in extended trading on Tuesday after T-Mobile stated it has no plans to stop collaborating with the Finnish company. This announcement came in response to an analyst report suggesting the possibility of a partnership termination.

Nokia shares had previously closed down around 7% after Earl Lum of EJL Wireless Research speculated in a LinkedIn post that Nokia could be replaced by Ericsson (BS:ERICAs) as T-Mobile's supplier.

T-Mobile clarified, "We have made no decision to end our working relationship with Nokia, and any reports in the media implying this are untrue." Furthermore, T-Mobile emphasized that both Nokia and Ericsson contribute to building their RAN and have been essential in establishing the largest and fastest 5G network in the nation.

Last year, telecom rival AT&T (NYSE:T) opted for Ericsson to develop a telecom network aimed at handling 70% of its U.S. wireless traffic by late 2026, intensifying competition and reducing Nokia's market presence in North America.