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Halcon Construction About Uetel wins $4.5 billion contract to replace Nokia handset patents

Uetel wins $4.5 billion contract to replace Nokia handset patents

Uetels’ new contract with Nokia’s former parent company to manufacture smartphones and tablet devices for the telecom industry includes $4 billion in cash and equipment sales.

The award for Nokia’s U.S. patents, which are expected to cost $1 billion per handset, comes at a time when other handset makers are also expanding their operations in the U.K., Germany and other countries.

The U.KS.-based UetEL group is developing technologies that will enable the world’s biggest mobile carriers to build mobile communications networks, said the company’s chief executive, Uetiel van der Meij.

The group, based in Germany, is building an “innovative and high-quality mobile network architecture” that is capable of providing better coverage and reliability to customers than other architectures, he said.

Uetel said it is investing in a technology that will make its new devices more competitive than Nokia’s mobile network products, the Lumia 928 and Nokia X10, and will allow it to produce the same products with lower prices and more power.

The contract for Nokia patents, to be awarded in March 2018, was signed by Ueteland CEO Thomas Vohra and Nokia Chief Operating Officer Rui Hernan.

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