Nortel wins $2B contract from Verizon Wireless

Nortel has closed a $2 billion five year contract with Verizon Wireless to upgrade the carrier's network for 3G services for faster access to video and music. The build-out is designed to meet the need of increased uptake in V Cast services, which the company says are "resonating in the marketplace." In Q3, data services accounted for 14 percent of the carrier's revenue. The deal calls for more CDMA2000 base stations, switches, IP platforms, optical networking and others. The deal also builds on Nortel's July Rev. A deal with the carrier.

For more on the Nortel-Verizon deal:
- take a look at this press release

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