Nokia Chief Executive Rajeev Suri has said his company could benefit quite nicely from the whole US ban on Huawei and the 5G development process.
“Perhaps there is long term opportunity but more than that, it’s hard to say at this point,” Suri was quoted saying.
Just like Huawei, a part of Nokia's work includes the building of 5G infrastructure. “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.
But lately, the company has been lagging in deployment, which resulted in a 'surprise' quarterly loss. “We are late in 5G by a few weeks to a couple of months,” Suri told the Finnish company’s annual shareholder meeting.
Huawei was placed on a US black list of sorts, as a company that could potentially threaten US national security. Many US tech giants, like Google and Broadcom, severed all ties with Huawei, following the news.
Huawei, on the other hand, claims it has done nothing wrong, and that it is strong enough to endure US pressure.
Image Credit: Kārlis Dambrāns