Nokia Appointed New Chairman, Race for 5G Network

Sari Baldauf who is a most well-known female executives in the global telecommunications industry has been appointed as its new chairman. She is getting a headstart by choosing a combative dealmaker to put the network equipment maker back in the race for 5G networks. In October last year, Nokia issued a profit warning and subsequently cut its dividend. Nokia is trying to reduce costs and solving the problem of shipping delays. In addition to the change in the position of chairman, CEO Rajeev Suri position will also be held by the energy company Fortum President and CEO Pekka Lundmark. Earlier, Nokia stated that it is the only one supplier in the world with an end-to-end product portfolio which all 5G network elements, including radio, core, cloud and transmission, management, automation and security. Rajiv Suri said the company will emerge from the new crown crisis and become stronger, and the company’s supply chain is fairly solid, with 25 factories worldwide.
Nokia has been delayed in SoC development. Suri said that integration with Aaron is not easy, but the task which includes operations and culture has been completed. At the same time, the development of the 5G market is accelerating … they must accelerate the pace of research and development, and will definitely face many challenges in the process of progress.
At present, the company is in fierce competition with Ericsson and Huawei to compete for 5G market share. It is reported that the company has signed 5G open agreements with operators such as T-Mobile, Telia and Softbank.
In February of this year, had media reported that Nokia was considering selling assets or merging businesses due to the high competitive pressure in the 5G market. In the same month, the company received a loan of 500 million euros ($ 561 million) to help it accelerate the development of 5G technology.
In late March, Nokia announced that it has filed 3,000 5G patents with the European Telecommunications Standards Institute (ETSI), which reflects the company ’s continued leadership and strong momentum in mobile technology R & D and standardization.。In May this year, Nokia was selected as a 5G network provider by Taiwan Star Telecom (TST). The company said it was the only supplier of the deal.