Nokia Oyj NOK shares are trading higher on Tuesday after the company said it has the capacity and expertise to replace all of the Huawei equipment in the UK's networks at scale and speed.
Nokia's network business derives revenue from selling wireless and fixed-line hardware, software, and services. Nokia's technology segment licenses its patent portfolio to handset manufacturers and makes royalties from Nokia-branded cellphones.
See Also: Why The UK Is Removing Huawei 5G Technology By 2027
The company, headquartered in Espoo, Finland, operates on a global scale, with most of its revenue from communication service providers.
Nokia shares were trading up 2.87% at $4.30 at the time of publication on Tuesday. The stock has a 52-week high of $5.77 and a 52-week low of $2.34.
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