Nokia said it would invest more in the new generation of broadband technology and revamp business strategy under its new CEO, who said the company would do “whatever it takes” to achieve 5G leadership.
The company based in Espoo,
The quarterly report was the first one issued since CEO
He said Thursday that “more change is needed” within Nokia, which has played catch-up with China’s
“Our financial performance in 2021 is expected to be challenging,” Lundmark said. “We have lost share at one large North American customer, see some margin pressure in that market, and believe we need to further increase R&D investments to ensure leadership in 5G. In fact, we have decided that we will invest whatever it takes to win in 5G.”
Nokia said Thursday it has secured 101 commercial 5G deals with 36 live networks, while
In a call with reporters, Lundmark said Nokia was “well placed” to take advantage of bans imposed on some network equipment vendors, clearly pointing to
“Some of the geopolitical trends are opening up new opportunities,” Lundmark said in the call. “We understand that the safety and security of the network and the trustworthiness of the vendor is extremely important. It’s going to be increasingly important in the future.”
Nokia also announced a new strategy, effective
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