Nokia Extends Strategic Partnership with Wipro to Drive Digital Transformation and Efficiencies in Global Business Services

Rhea-AI Summary

Wipro Limited (NYSE: WIT) has entered a five-year strategic agreement with Nokia, enhancing their long-standing partnership. This collaboration aims to optimize Nokia's operations through process digitization and automation. Wipro will support Nokia's Global Business Services (GBS) by improving order management, finance, and accounting operations. The deal aims to deliver measurable outcomes and enhance user experiences, positioning both companies for success in the 5G landscape.

Positive

• New five-year strategic engagement with Nokia enhances operational efficiency.
• Focus on process optimization and automation to improve user experience.
• Strengthens existing partnership built over 20 years.

Negative

• None.

The new agreement supports Nokia’s strategy to accelerate competitiveness and aims to grow margins through digitalization of operations, automation and capturing emerging opportunities

ESPOO, Finland & BANGALORE, India--(BUSINESS WIRE)-- Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global technology services and consulting company, have announced a new five-year strategic engagement with Nokia, the world’s leading multinational, networking, telecommunications and consumer electronics company. The new agreement builds on a partnership originally established over 20 years ago and is a testament to the strength of the relationship.

Wipro will deliver global business services in support of Nokia’s renewed operating model, focusing on process optimization, touchless processing and enhanced user and customer experience across order management supply chain, finance, and accounting operations. For Nokia, this represents a major step towards digitalization of its operations by leveraging Wipro’s unique transformation and innovation capabilities.

“We have selected Wipro as our long-term partner to support Nokia GBS’ service delivery transformation over the next five years. This marks a significant milestone in our journey aimed at delivering tangible benefits to Nokia Business Groups through a unified service desk, seamless service integration, improved transparency and performance of GBS,” said Rod Lindsay, Vice President, Global Business Services, Nokia.

“We have a truly strategic partnership with Nokia, built over 20 years, based on our shared values. We now have a shared purpose: to drive impactful and quantified business outcomes enabled through technology, automation, and process digitization. Our goal is to enable Nokia to win in the 5G world and beyond,” said Vinay Firake, Senior Vice President & Managing Director – Nordics, Wipro Ltd.

Note: This deal was mentioned in Wipro Limited's financial results announcement press release, dated April 29, 2022, for the quarter and year ended March 31, 2022 (Q4 FY21-22), without naming the customer or detailing the tenure and size of the deal.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 250,000 employees and business partners across 66 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional Information, please visit us at www.wipro.com.

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220726005314/en/

Sanuber B. Grohe

Wipro Ltd.

Sanuber.grohe@wipro.com

Source: Wipro Limited

FAQ

What is the new agreement between Wipro and Nokia?

Wipro and Nokia have established a five-year strategic agreement aimed at enhancing Nokia's operational efficiency through process optimization and automation.

How will the Wipro and Nokia partnership impact Wipro's stock (WIT)?

The partnership is expected to strengthen Wipro's market position and could positively influence its stock performance by enhancing operational capabilities.

What are the key goals of Wipro's agreement with Nokia?

The key goals include improving order management, finance, and accounting operations for Nokia, leading to enhanced user experiences and operational efficiency.