China is said to be considering retaliating against Nokia and Ericsson if the European Union follows the US and Britain in banning Huawei Technologies from 5G networks, according to a report.
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British Prime Minister Boris Johnson’s government will ban Huawei from Britain’s 5G network by ordering operators to remove its equipment by 2027.
Finland’s Nokia on Tuesday became the first major telecoms equipment maker to commit to adding open interfaces in its products that will allow operators to build networks that are not tied to a vendor.
Qualcomm on Tuesday said it is putting 5G technology into chips for smartphones that will sell for as little as R5 000 and that will come to market in the second half of this year.
Missteps helped drive shares of Nokia in its current form close to their all-time lows as a multiple of expected earnings. Its new CEO, Pekka Lundmark, is tasked with the difficult job of returning it to prosperity.
Nokia is exploring strategic options as fierce competition puts pressure on the Finnish network equipment maker’s earnings, people familiar with the matter said.
The White House plans to hold a conference with Huawei’s rivals to try to accelerate development of affordable competing 5G wireless technology, President Donald Trump’s top economic adviser said.
The US has been warning other countries not to buy telecommunications gear from China’s Huawei and ZTE. The government will soon put real money behind the effort.
When Nokia cut its outlook and halted the dividend last week, analysts blamed the company’s under-investment in research and development, among other things. Add internal politics to the list.
Nokia only really has two competitors in the telecommunications equipment business, and one of them has been all but banned from much of the market. Pretty ripe conditions for a thriving business? Not for Nokia.