Core Insights - Actelis Networks has received an order from a local telecommunications carrier in Oklahoma to enhance broadband connectivity in underserved rural communities using its hybrid fiber-copper amplification technology [1][2] - The deployment aims to provide immediate, cost-effective broadband improvements without waiting for full fiber deployments, leveraging existing infrastructure to enhance signal quality and extend reach [2][3] - This initiative aligns with the federal Broadband Equity, Access, and Deployment (BEAD) Program, which has a budget of $42.45 billion to connect underserved Americans, showcasing how hybrid networking can maximize infrastructure investments [4] Company Overview - Actelis Networks is a market leader in hybrid fiber-copper networking solutions, focusing on rapid deployment for IoT applications across various sectors, including government and telecom [5] - The company's technology offers fiber-grade performance while maintaining the flexibility and cost-efficiency of hybrid networks, contributing to enhanced network security through its "Cyber Aware Networking" initiative [5]

Core Insights - Adtran has announced support for Galileo's Open Service Navigation Message Authentication (OSNMA), marking a significant advancement in GNSS security [1] - OSNMA is the first GNSS authentication service designed specifically for civilian use, highlighting its importance in enhancing security measures [1] - Adtran is the first company in the timing industry to support OSNMA, positioning itself as a leader in GNSS synchronization technology [1] Company Summary - Adtran's integration of OSNMA into its Oscilloquartz synchronization platforms demonstrates its commitment to improving the authenticity and integrity of timing data [1] - The support for OSNMA allows Adtran to verify that timing data originates from genuine Galileo satellites, which is crucial for maintaining trust in GNSS services [1]

Core Viewpoint - Adtran has announced support for Galileo's Open Service Navigation Message Authentication (OSNMA), marking a significant advancement in GNSS security and positioning itself as a leader in the timing industry [1] Group 1: Company Developments - Adtran is the first company in the timing industry to support OSNMA, which is the first GNSS authentication service designed specifically for civilian use [1] - The implementation of OSNMA allows for the verification of timing data originating from genuine Galileo satellites, ensuring authenticity and integrity at the point of reception [1]

Core Insights - The company reported a strong growth of 9% on a constant currency basis, particularly in the network infrastructure business driven by optical networks and mobile infrastructure [1] - There is a significant focus on AI and data centers, with investments aimed at capturing opportunities in these areas [2][3] - Demand for AI and data center activities is robust and continues to accelerate, indicating a long-term growth trend rather than a temporary spike [6][8] Company Performance - The company experienced strong order growth in its optical networks business, contributing to overall positive performance [1] - Profit comparisons year-over-year are affected by a reversal from the previous year, but underlying performance remains flat when adjusted for this [1] - The company is actively innovating and shipping competitive products, such as the 800 gig ZRZR Plus pluggable, which is expected to enhance its market position [4][5] Market Trends - The demand for optical networks is growing across various sectors, including long-haul transport and metro networks [4] - Emerging demand in pluggable technology is seen as an exciting opportunity for the company [4] - The long-term potential of AI is viewed as a super cycle, with various applications still in early stages of penetration, suggesting sustained growth in the future [9][12] Strategic Focus - The company is directing investments towards AI and data centers to capitalize on the increasing demand in these sectors [2][3] - There is a belief that the current wave of spending from hyperscalers will not lead to a slowdown in the market, reinforcing confidence in long-term growth prospects [8][10] - The company is expanding its capabilities in fixed access and fiber technology to support both enterprise and residential customers [12][13]

Core Insights - Shares of Nokia increased approximately 8% in premarket trading following the announcement of third quarter adjusted profit that exceeded analyst expectations, driven by strong demand for AI and cloud services which positively impacted Optical Networks sales [5] Financial Performance - Nokia's third quarter adjusted operating profit decreased by 10% year-over-year, amounting to €435 million [5]

Financial Data and Key Metrics Changes - The company reported a 9% increase in net sales for Q3, with all business groups contributing to this growth [4][13] - Gross margin declined by 150 basis points year-on-year, primarily due to product mix issues in Network Infrastructure and Mobile Networks [13] - Operating margin was 9%, down 220 basis points from the previous year, largely due to a one-time benefit from a loss provision reversal in the prior year [13][14] - Free cash flow generated was EUR 429 million, with a net cash position of EUR 3 billion at the end of the quarter [14][18] Business Line Data and Key Metrics Changes - Network Infrastructure saw an 11% growth, with Optical Networks leading at 19% sales growth [15] - Cloud and Network Services experienced a 13% increase in sales, with gross margin improving by 380 basis points [16] - Mobile Networks net sales increased by 4%, driven by growth in Vietnam and the Middle East & Africa, but gross margin declined by 370 basis points due to a lower software contribution [17] - Nokia Technologies reported a 14% increase in net sales, maintaining an annual run rate of approximately EUR 1.4 billion [18] Market Data and Key Metrics Changes - In North America, strong growth was observed in Network Infrastructure and Cloud and Network Services, while Mobile Networks saw a slight decline [18] - APAC region, particularly India, showed growth in Network Infrastructure, while Mobile Networks returned to modest growth [18] - Europe remained stable, with no significant changes reported in Q3 [18] Company Strategy and Development Direction - The company is focused on operational leverage through continuous productivity improvement and digital instrumentation, rather than large restructuring programs [15][40] - The integration of the Infinera acquisition is ahead of schedule, contributing positively to net sales and order intake growth [5][11] - The company aims to unlock the full potential of its portfolio and deliver ongoing growth and operating leverage, with a strategy to be shared at the upcoming Capital Markets Day [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand environment, particularly in AI and cloud sectors, with a strong order intake and backlog coverage [4][5] - The company expects Q4 net sales to grow sequentially, slightly above historical seasonality of 22% [11] - Management highlighted the importance of focusing on innovation and technology leadership to improve returns in Mobile Networks [83] Other Important Information - The company is scaling down passive venture fund investments and will consider targeted direct minority investments to accelerate its strategy [10][11] - The AI supercycle is seen as a significant driver for demand in advanced connectivity solutions, positioning Nokia as a leader in this market [12] Q&A Session Summary Question: Progress on IP Networks and switching business - Management acknowledged positive design wins and emphasized that they are still a small player in the IP Networks space, with much work ahead [27] Question: Growth opportunities in AI and cloud - Management identified hyperscalers and sovereign clouds as significant growth opportunities, with current demand primarily driven by hyperscalers [29] Question: Insights on Scale Across for optics - Management noted that while Scale Across is not new, the increasing bandwidth demands from AI data centers create new opportunities for innovation [31][32] Question: Mobile Networks margins and future outlook - Management indicated that improving returns in Mobile Networks is a priority, focusing on customer engagement and innovation [83] Question: Demand in Europe and revenue decline - Management stated that demand in Europe is stabilizing, with potential upside if regulations address high-risk vendor status [77]

Financial Data and Key Metrics Changes - The company reported a 9% increase in net sales for Q3, with all business groups contributing to growth [3][11] - Gross margin for the group declined by 150 basis points year-on-year, primarily due to product mix [11] - Operating margin was 9%, down 220 basis points from the previous year, mainly due to a one-time benefit from a loss provision reversal in the prior year [11][12] - Free cash flow generated was $429 million, with a net cash position of $3 billion at the end of the quarter [11][16] Business Line Data and Key Metrics Changes - Network Infrastructure saw an 11% growth, with Optical Networks leading at 19% sales growth [12] - Cloud and Network Services experienced a 13% increase in sales, with gross margin improving by 380 basis points [13] - Mobile Networks net sales increased by 4%, driven by growth in Vietnam and the Middle East & Africa, but gross margin declined by 370 basis points [15] - Nokia Technologies reported a 14% increase in net sales, maintaining an annual run rate of approximately €1.4 billion [16] Market Data and Key Metrics Changes - In North America, strong growth was noted in Network Infrastructure and Cloud and Network Services, while Mobile Networks saw a slight decline [16] - In APAC, India experienced growth in Network Infrastructure, driven by demand for fixed wireless, while Mobile Networks returned to modest growth [16] - Europe remained stable, with no significant changes reported in the quarter [16] Company Strategy and Development Direction - The company is focused on operational leverage through continuous productivity improvement and digital instrumentation rather than large restructuring programs [12][37] - Strategic partnerships, such as with N-Scale and Supermicro, are aimed at enhancing networking technologies and expanding the footprint of Nokia's network operating system [5] - The company is optimistic about growth opportunities in AI and cloud, particularly with hyperscalers and sovereign clouds [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year outlooks, expecting Q4 net sales to grow sequentially above historical seasonality [4][9] - The demand environment remains healthy, with strong order intake in AI and cloud sectors [3][4] - Management acknowledged the need for continued innovation and collaboration with customers to improve returns in Mobile Networks [78] Other Important Information - The company is ahead of schedule with the integration of the Infinera acquisition, contributing positively to net sales and order intake growth [4] - A strategic review of venture fund investments led to a decision to scale down passive investments, focusing instead on targeted direct minority investments [8] Q&A Session Summary Question: Progress on IP Networks and switching business - Management noted positive metrics and wins in IP Networks but acknowledged that they are still a small player in the market [23] Question: Growth opportunities in AI and cloud - The biggest opportunities are seen in hyperscalers and sovereign clouds, with significant demand driving growth [25] Question: Impact of Scale Across for optics - Management indicated that while the technology is not new, the demand for innovation is increasing due to bandwidth demands driven by AI data centers [27][28] Question: 6G mobility investments - Investment in 6G standardization has already started, with ongoing work in pre-standard 6G radio technology [32] Question: Factors driving positive surprise in Q3 - Improved gross margins in Cloud and Network Services and successful traction in 5G standalone core implementations contributed to the positive surprise [40] Question: Demand in Europe - Management indicated that demand is stabilizing, with potential upside if regulations address high-risk vendor status [73]

Financial Data and Key Metrics Changes - The company reported a 9% increase in net sales for Q3 2025, with all business groups contributing to this growth [4][17] - Gross margin for the group declined by 150 basis points year-on-year, primarily due to product mix issues within Network Infrastructure and Mobile Networks [17] - Operating margin was reported at 9%, which is 220 basis points lower than the previous year, largely due to a one-time benefit from the prior year [17][18] - Free cash flow generated was $429 million, with a net cash position of $3 billion at the end of the quarter [18][23] Business Line Data and Key Metrics Changes - Network Infrastructure saw an 11% growth, with Optical Networks leading at 19% sales growth [19] - Cloud and Network Services experienced a 13% increase in sales, with gross margin improving by 380 basis points [20] - Mobile Networks net sales increased by 4%, driven by growth in Vietnam and the Middle East and Africa, although gross margin declined by 370 basis points [21][22] - Nokia Technologies reported a 14% increase in net sales, maintaining an annual run rate of approximately $400 million [22] Market Data and Key Metrics Changes - In North America, strong growth was observed in Network Infrastructure and Cloud and Network Services, while Mobile Networks saw a slight decline [23] - In APAC, India experienced growth in Network Infrastructure, driven by demand for fixed wireless, while Mobile Networks returned to modest growth [23] - Europe remained stable, with no significant changes reported in Q3 [23] Company Strategy and Development Direction - The company is focused on leveraging AI and cloud technologies, with a strategic emphasis on partnerships, such as with EnScale and Super Micro [8][15] - Nokia is transitioning to a continuous improvement culture, emphasizing operational leverage and cost discipline rather than large restructuring programs [18][68] - The company is optimistic about the potential of AI and data center business, particularly in the EU and US markets [101] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the full-year outlook, with expectations for sequential net sales growth in Q4 slightly above historical seasonality [7][15] - The demand environment is described as healthy, with strong order intake particularly in AI and cloud sectors [5][6] - Management acknowledged the need for ongoing innovation and technology leadership to improve returns in Mobile Networks [108] Other Important Information - The integration of the Infinera acquisition is ahead of schedule, contributing positively to net sales and order intake growth [6][71] - A strategic review of venture fund investments led to a decision to scale down passive investments, focusing instead on targeted direct minority investments [14] Q&A Session Summary Question: Progress on IP networks and switching business - Management acknowledged positive metrics and wins in IP networks but noted that they are still a small player in the market, indicating more work is needed [34][35] Question: Growth opportunities in AI and cloud - The biggest opportunities are seen in hyperscalers and sovereign clouds, with significant demand currently coming from these segments [38] Question: Scale across for optics and its implications - Management indicated that while the technology is not new, the demand for innovation is increasing due to bandwidth demands driven by AI data centers [41] Question: Six G mobility investments - Investments in six G technology standardization have already begun, with ongoing R&D efforts [45][46] Question: Factors driving positive surprise in Q3 - Improved gross margins in Cloud and Network Services and successful market share gains in five G standalone core implementations were highlighted [58] Question: Demand in Europe and its implications - Management noted that while demand is stabilizing, the majority of investment is currently happening in the US, with potential upside in Europe if regulations change [101]

Financial Performance Highlights - Nokia reported strong net sales growth of 9% in Q3 2025[8], reaching EUR 48 billion[52] - The company's Q3 2025 gross margin was 442%[23] - Q3 2025 free cash flow (FCF) was EUR 04 billion[23] - Nokia's Q3 2025 net cash stood at 9%[23] Segment Performance - Network Infrastructure net sales increased by 11% year-over-year to EUR 1953 million[29], driven by Optical Networks which grew by 19%[32] - Cloud and Network Services net sales grew by 13% year-over-year to EUR 645 million[36] - Mobile Networks net sales saw a 4% increase year-over-year to EUR 1842 million[41] - Nokia Technologies net sales increased by 14% year-over-year to EUR 391 million[47] Strategic Progress - Net sales from AI & Cloud accounted for 6% of Nokia's total net sales in Q3 2025[10, 12] - Nokia is on track to achieve its full-year 2025 outlook, targeting the mid-point of its operating profit outlook range of EUR 17 billion to EUR 22 billion[8, 19] - Nokia Technologies maintains a contracted annual net sales run-rate of approximately EUR 14 billion[50]

新浪科技讯 10月23日下午消息，中兴通讯近日举行成立40周年外事招待会。来自80多个国家的300多名 驻华使节，相关机构代表，国际组织负责人及合作伙伴出席了本次活动。 招待会期间，中兴通讯董事长方榕与嘉宾同切蛋糕，共同庆祝中兴通讯成立40周年。来宾还一起观赏了 民乐演奏、川剧变脸等节目，并体验了机器人现场展示武术招式、与嘉宾趣味互动的精彩环节，感受尖 端科技与传统文化交融的魅力。 中兴通讯方面表示，展望未来，将以四十周年为新起点、以技术创新为依托，携手全球合作伙伴，共赢 数智未来新征程。 中兴通讯董事长方榕在致辞中总结了企业40年来的发展历程与国际化成果。她表示，怀揣"以一根电话 线连接世界"的初心，中兴通讯已成长为全球领先的综合信息与通信技术解决方案提供商，而国际化便 是行稳致远的"必由之路"。得益于中国对外经贸服务机构与各驻华使领馆的支持，更有赖于中外政策衔 接、经贸合作深化的指引，中兴通讯业务已覆盖160多个国家和地区，全球每四人中就有一人使用中兴 的产品与服务。面对人工智能浪潮，中兴通讯正推动从"全连接"向"连接+算力"的战略升级，以领先的 网络连接与智能算力弥合数字鸿沟、深化全球合作，共谱数智化发 ...