Menu
Nokia CEO sees possible benefits from Huawei tensions

Nokia CEO sees possible benefits from Huawei tensions

Vendor acknowledges it had been a little slow in getting 5G technology up and running,

Rajeev Suri (Nokia), speaks during the Mobile World Congress in February 25, 2018.

Rajeev Suri (Nokia), speaks during the Mobile World Congress in February 25, 2018.

Credit: REUTERS | Yves Herman

Nokia chief executive Rajeev Suri said on Tuesday the company could benefit from a US clampdown on Chinese rival Huawei as the race to roll out 5G services heats up.

Asked about the regulatory problems facing Huawei, he told investors: "Perhaps there is long term opportunity but more than that, it's hard to say at this point."

Analysts expect Nokia and its Swedish peer Ericsson to benefit from tensions between the United States and Huawei, the largest supplier of mobile network technology.

Nokia last month reported a surprise quarterly loss after it failed to supply 5G telecoms equipment in time.

Suri acknowledged the company had been a little slow in getting 5G technology up and running, citing merging its own technology plans with those of acquired Alcatel-Lucent as a reason.

"We are late in 5G by a few weeks to a couple of months," Suri told the Finnish company's annual shareholder meeting.

Nokia said it has won one additional commercial 5G contract since it reported first quarter earnings in late April.

"We are winning deals and rolling out some of the world's first 5G networks," Suri said.

"We now have 37 5G commercial contracts - 20 with named customers including T-Mobile, AT&T, STC, and Telia - and more than half of them include wider portfolio elements that our competitors cannot match," he added.

Suri told investors he remained confident the company would reach its annual financial guidance. Nokia repeated in April its forecast for 2019 underlying diluted earnings per share of 25-29 euro cents, and non-IFRS operating margin of 9-12%.

Shares in Nokia were up 1.9 per cent in late trading in Helsinki.

(Reporting by Anne Kauranen; Writing by Tarmo Virki; Editing by Keith Weir)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags NokiaHuawei

Featured

Slideshows

Malwarebytes shoots the breeze with channel, prospects

Malwarebytes shoots the breeze with channel, prospects

A Kumeu, Auckland, winery was the venue for a Malwarebytes event for partner and prospect MSPs - with some straight shooting on the side. The half-day getaway, which featured an archery competition, lunch and wine-tasting aimed at bringing Malwarebytes' local New Zealand and top and prospective MSP partners together to celebrate recent local successes, and discuss the current state of malware in New Zealand. This was also a unique opportunity for local MSPs to learn about how they can get the most out of Malwarebytes' MSP program and offering, as more Kiwi businesses are targeted by malware.

Malwarebytes shoots the breeze with channel, prospects
EDGE 2019: Channel forges new partnerships during evening networking

EDGE 2019: Channel forges new partnerships during evening networking

Partners, vendors and distributors reconnected during a number of social gatherings during EDGE 2019. The first evening saw the channel congregate for a welcome party at the Hamilton Island yacht club, while the main poolside proved to be the perfect stop for a barbecue on the final night.

EDGE 2019: Channel forges new partnerships during evening networking
Show Comments