Telenor ASA TELNY recently reached a milestone by deploying more than 25 million SIM cards globally. By leveraging cutting-edge technology and expanding its global footprint, Telenor is likely to reshape the landscape of Internet of Things (IoT) connectivity.

Key Factors Driving TELNY’s Success

The company has strengthened its foothold in key regions, notably the United States and Asia, through the expansion of local teams and support infrastructure. This initiative has allowed TELNY to tap into new customer segments and address diverse market demands effectively. It continues to deliver innovative products and services to meet customer needs. Telenor launched IoT Complete, a fully integrated, modular and configurable service designed to support comprehensive IoT infrastructure. The company’s focus on innovation not only enhances customer expectations but also gives it a competitive edge over other players in the market.

Telenor has significantly augmented its network capabilities to ensure customers have uninterrupted connectivity, irrespective of their locations. By expanding its network access in regions where roaming is restricted, Telenor ensures that businesses can maintain seamless connectivity.  The establishment of regional network points allows customers to access the right network for their use case, facilitating efficient data transmission. These advancements empower businesses to deploy IoT solutions in complex and restricted environments.

Telenor IoT’s customer-centric approach has been instrumental in its journey to 25 million SIM cards. The company’s commitment to building and maintaining healthy customer relationships is evident in its latest customer satisfaction survey, where 73% of respondents rated Telenor IoT’s performance as “excellent” or “above average” compared to other IoT suppliers.

Moreover, management highlighted the robust growth potential of the global IoT market. It anticipates the market to grow 11% in revenues and 15% in connections from 2023 to 2028 (excluding China). By continuously innovating new technology, services and solutions in the market, Telenor IoT is well-positioned to capitalize on emerging trends and customer demands.

Telenor ASA Price and Consensus

Telenor ASA price-consensus-chart | Telenor ASA Quote

With its diverse product portfolio, global reach, expanded coverage and commitment to customer success, Telenor IoT exceeded the 25 million SIM card milestone, empowering customers to grow, innovate and succeed.

Telenor is a leading telecommunications company in Norway, operating in one of the world's most advanced telecommunications markets. It provides mobile communication services globally.

TELNY’S Zacks Rank & Stock Price Performance

Currently, Telenor carries a Zacks Rank #3 (Hold). Shares of the company have lost 4.6% in the past year compared with the sub-industry’s decline of 17%.

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Stocks to Consider

Some better-ranked stocks from the broader technology space are InterDigital, Inc. IDCC, Ubiquiti Inc. UI and Qualcomm Incorporated QCOM. IDCC & UI presently sport a Zacks Rank #1 (Strong Buy), while QCOM carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

IDCC is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular as well as wireless 3G, 4G and IEEE 802-related products and networks. It has a long-term growth expectation of 17.44%.

Ubiquiti’s effective management of its strong global network of more than 100 distributors and master resellers improved its visibility for future demand and inventory management techniques. In the last reported quarter, Ubiquiti delivered an earnings surprise of 20.9%. Its highly flexible global business model remains apt to adapt to the changing market dynamics to overcome challenges while maximizing growth.

Qualcomm is well-positioned to meet its long-term revenue targets driven by solid 5G traction, greater visibility and a diversified revenue stream. It is increasingly focusing on the seamless transition from a wireless communications firm for the mobile industry to a connected processor company for the intelligent edge.

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