Nortel Picks LTE, Stock Jumps

Nortel Picks LTE over Wi-Max

Not sure what to make of Nortel’s (NT) decision to pick LTE over Wi-Max but pragmatism seems to have played a key role.

Gerry Collins, Nortel’s director of wireless for Europe, the Middle East and Africa, said LTE has better prospects while Wi-Max has done as well as expected.

“We looked at our portfolio and felt we hadn’t addressed either segment very well,” he told PC World, adding that Nortel will focus its R&D dollars and focus on LTE rather than trying to split it between LTE and Wi-Max.

For an overview on Nortel’s LTE portfolio, click here, including several podcasts on 4G and LTE.

More: CNNMoney’s Scott Moritz has a story on Nortel’s move, calling it “another blow’ to Wi-Max.

NT Shares Jump

Investors must have liked the LTE announcement and/or analysts got really encouraged during Nortel’s annual analyst day as the company’s shares have jumped nearly 12% to $9.07 in New York - the highest they’ve traded in more than three months.

More: Barron’s Tech Trader Daily has a blog on the rebound of Nortel shares. As well, you can get a lot of information about the investor presentations on Nortel’s Buzzboard blog.