Lucent, Nortel Win Contracts From Sprint

Lucent Technologies Inc. and Nortel Networks Corp. each won three-year, $1-billion contracts to supply equipment Sprint Corp.’s wireless unit will use for advanced mobile-phone service.

The contracts cover equipment Sprint PCS needs to add capacity for voice calls and begin offering faster wireless Internet access. Both manufacturers will provide engineering, installation and project management services, Sprint PCS said.

Sprint PCS, based in Kansas City, Mo., plans to sell the new services, which use a standard called 1xRTT, later this year.

Sprint shares fell 3 cents to close at $20.57, Sprint PCS rose 3 cents to $22.18 and Nortel rose 7 cents to $8.42, all on the New York Stock Exchange. Murray Hill, N.J.-based Lucent fell 13 cents to $5.87 on Nasdaq.