A research note sparked a big drop in Nokia's (NOK.US) stock price! T-Mobile (TMUS.US) clarifies: It has no intention of ending the cooperation

Market IntelTuesday, Nov 19, 2024 7:50 pm ET

1min read

T-Mobile US (TMUS.US) said it has no plans to stop buying network equipment from Nokia (NOK.US), refuting an analyst's prediction that the telecom giant would switch suppliers.A T-Mobile spokesperson said in an email statement on Tuesday: "T-Mobile works with Nokia and Ericsson (ERIC.US), who have helped us build the largest and fastest 5G network in the country for years. We will continue to work with them to ensure our customers have the best mobile network experience."Nokia's stock price fell nearly 1% on Tuesday, the biggest drop in nearly a year, after the Finnish company's shares fell 5.7% in Helsinki, according to data from Bloomberg. The stock has risen 30% this year.The company said in an email statement: "Nokia is proud to be a long-term partner with T-Mobile in the RAN space. We are confident in our industry-leading product portfolio, which helps us increase market share with many existing RAN customers and win new customers."Nokia's shares fell 5.7% in Helsinki to 3.97 euros, the biggest drop since December 2023.

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