Investing in next-generation wireless networks will take much longer than the 4G cycle, giving Nokia Oyj affiliates time to find competitors close to their release early, according to its official.
Finnish communications maker on Thursday unveiled a plan on how to plan to regain competition in 2023 when General Manager Pekka Lundmark cuts about 10,000 jobs in two years to unleash savings on new jobs from 5G. Action is needed, but not a sign that Nokia would miss out on a boat, he said.
The major construction of fifth-generation networks will take some time “twice the height of 4G” due to the industrial revolution they are undertaking, Lundmark said in an interview Thursday. “So, we’re not late.”
Delays in the release of 5G across Europe will buy Nokia time as it seeks to recoup market share from Sweden AB of Sweden and Huawei Technologies Co of China, which gained profits at the start of the cycle. Negative ways of designing 5G gear have been largely defeated, said Lundmark, who took over as CEO in August. Nokia is now promoting the deployment of basic channels containing its most expensive security system.
“We were not very successful in the first phase of 5G, our product was not ready,” he said. “There is a lot of competition now and we believe that by the end of this year we will have regained our competition.”