Nokia Oyj (NYSE: NOK) said on Tuesday that China Mobile Cloud will use its Nuage Networks end-to-end solution for the deployment of its public cloud service.
What Happened: Nokia’s Nuage Networks will provide its cloud technology services to China Mobile Cloud to help it ramp up public cloud service. It will deploy its technology to help end customers build isolated and secure private clouds that connect to other virtualized cloud services such as the internet and enterprise data centers.
Nokia and China Mobile Cloud, a subsidiary of mobile telecom provider China Mobile, have worked closely since 2015 on both public and private cloud services running on Nuage’s SDN solution.
According to the company, Nuage Networks VCS can support a massive number of virtual machines (VM) and bare metal services (BM) in the same network with full policy control. The flexible architecture also allows direct connectivity between the endpoints without going through gateways, which can quickly become bottlenecks in a cloud environment.
The Finnish technology firm’s US-listed shares — alongside GameStop Corp (NYSE: GME), Blackberry Ltd (NYSE: BB) and AMC Entertainment Holdings (NYSE: AMC), were recently a short-squeeze target of retail investors — and rose to their highest level in 10-years in January this year.
Price Action: Shares of Nokia closed 1.45% lower at $4.07 on Monday.
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