Nokia CEO Rajeev Suri said the US-Huawei clash could benefit Nokia over 5G, as the Finnish company is a direct competitor of the Chinese with the new mobile data technology.
To investors, Rajeev said, “There may be long-term opportunities, but more than that. It’s hard to say at this point.” Despite this, Nokia is having its game delayed; The 5G already gives Huawei is developed and its implementation is worked out.
The CEO knows about this difference: “We are behind 5G for a few weeks to a few months. We are gaining business and launching some of the world’s first 5G networks. We now have 37 5G-20 commercial contracts with named clients including T-Mobile, AT & T, STC and Telia – and more than half of them include broader portfolio elements that our competitors can not match. “.
About the 5G race, the executive acknowledged at the company’s shareholder meeting that Nokia is slow in implementing the technology. Although it has been closing some contracts since the release of its financial results at the end of April. There are 37 commercial contracts, and more than half includes broader portfolio elements that competitors can not match, according to Suri.
The company, which was up 1.9% on the Helsinki stock exchange. Has reaffirmed that it will reach its annual financial target. Nokia is not the only company to observe the market after the problems faced by Huawei. Samsung’s heir was in Japan to discuss 5G with local carriers.
Accusations of espionage
In 2012, the US Congress issued a report accusing Huawei and Chinese ZTE. Of being a threat to the country’s security. At the time, companies were already among the top providers of telecommunication network equipment around the world and vehemently denied accusations that they were working with the Chinese government to spy on citizens from other countries.
That same year, the White House itself, under the chairmanship of Barack Obama. Issued another document claiming that it had not found evidence that Chinese companies were creating deliberate breaches in their devices to facilitate spying. It seemed enough to ease the scuffle, at least until Donald Trump won the election and became president of the United States.
Since his first year in office, Trump has taken a confrontational stance with China. The president favored a bill that would prevent companies with at least a 25 percent stake in China from buying US companies. He also announced new tariffs on about $ 200 billion worth of products coming from China. Including having to exempt some companies to not affect the price of US goods.