Lucent won $5 billion, 3 year contract to provide 3rd generation ...
Lucent won $5 billion, 3 year contract to provide 3rd generation (3G) mobile network infrastructure to Verizon Wireless. Deal, which would increase Verizon’s capacity significantly, was seen as good news for financially battered Lucent. Lucent shares rose nearly 20%…
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to $11.97 at market close Mon. Verizon said it would begin deploying first phase of 3G technology later this year, calling it first commercial 3G system in U.S. Upgrade could double existing network’s voice capacity and increase data transmission speeds by nearly 10 times, it said.