Barcelona, Spain – Nokia today outlined its approach as a renewed company for leading the development of next-generation 5G technology and the Internet of Things (IoT), targeting an addressable market opportunity that has nearly doubled in size following the acquisition of Alcatel-Lucent.
As part of its approach, delivered on the eve of Mobile World Congress, Nokia unveiled a series of announcements – from new 5G and IoT investments to a new 5G-ready product – that underscore the company’s deep expertise in developing the technologies of tomorrow.
“We are planning to dramatically increase our investment in 5G this year and unleash the power of our massive innovation engine,” Nokia President and CEO Rajeev Suri told a media and analyst briefing.
Suri announced a new 5G-ready AirScale radio access product to replace the very popular Flexi base station; Nokia’s acquisition of Nakina, a Canadian software company that specializes in preventing, identifying and eliminating security threats; and the company’s launch of a USD350 million IoT investment fund through Nokia’s private venture firm, Nokia Growth Partners.
“We are already at the forefront of making 5G a reality and enabling massive capacity and massive connectivity – this is an integral part of our vision,” Suri said.
“5G must happen fast because important IoT use cases demand it. If we know that 5G can help save lives, improve our environment, and make our lives better, we need to move faster, not slower, Suri said.
With Nokia’s announcements today, Nokia is taking concrete steps to solidify its 5G leadership and demonstrate how it will drive the business forward, he added.
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