Ericsson Beats Nokia to $14 Billion AT&T Network Build Deal (1)

Ericsson AB won a $14 billion contract to modernize AT&T Inc.’s wireless network, agreeing to build an open network that can be supplied by a number of vendors and beating out its longtime rival Nokia Oyj.

The contract, which will let AT&T choose vendors that supply its antennas and infrastructure going forward instead of locking the US carrier into a single relationship, marks a “strategic industry shift,” Ericsson, based in Stockholm, said in a statement Monday. The funds will be paid out over five years and focus on upgrading AT&T’s infrastructure for 5G technology.

It was a major ...