Verizon Drops USD 1 Billion on Nortel Gear
By Carlo Longino, Thu Sep 04 12:15:00 GMT 2003

Is the recovery upon us? The largest US carrier annouces plans to drop some hefty change on network gear.

Verizon Wireless said Thursday it would spend USD 3 billion over the next three and a half years to Nortel Networks for upgrades and additions to its CDMA1x network in a number of locations across the US, including the rollout of speedy CDMA2000 1x EV-DO gear.

Though it's an extension of an existing agreement between the two, Nortel says the deal represents new incremental revenue, good news for their shareholders, and perhaps for the rest of the industry. Could this be pointing to an upturn in the stunted infrastructure market?