{"id":200313,"date":"2019-02-01T02:19:52","date_gmt":"2019-02-01T07:19:52","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=200313"},"modified":"2019-02-01T02:19:52","modified_gmt":"2019-02-01T07:19:52","slug":"huawei-rival-nokia-profits-from-demand-for-5g-networks","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/02\/01\/huawei-rival-nokia-profits-from-demand-for-5g-networks\/","title":{"rendered":"Huawei rival Nokia profits from demand for 5G networks"},"content":{"rendered":"
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Nokia’s net profit for the October-December rose to 741 million euros ($852 million) from 716 million euros a year earlier. Sales grew 3 per cent to 6.9 billion euros. (File Photo:<\/a> @Nokia\/Instagram<\/a>)<\/figcaption><\/figure>\n

HELSINKI — Telecoms gear provider Nokia reported Thursday a rise in fourth-quarter earnings thanks to strong demand for new-generation mobile networks, the so-called 5G systems that have been the focus of a high-stakes dispute between the U.S. government and Nokia rival Huawei.<\/p>\n

Nokia’s net profit for the October-December rose to 741 million euros ($852 million) from 716 million euros a year earlier. Sales grew 3 per cent to 6.9 billion euros.<\/p>\n

CEO Rajeev Suri said the company’s performance is expected to improve further this year as \u201ca fast and meaningful shift\u201d into 5G networks takes place.<\/p>\n

While fourth quarter figures were above analyst predictions, Suri noted that 2019 was off to a slow start with operators’ spending on 5G \u201csoft\u201d during the first six months.<\/p>\n

Market for the faster but more expensive 5G networks was expected to turn \u201crobust\u201d in the latter part of the year and to substantially pick up in 2020-21 with operators worldwide updating their networks and technology, he said.<\/p>\n

\u201cI’m a big believer in 5G driving productivity growth in economies, driving GDP growth,\u201d Suri said in an interview with Finnish public broadcaster YLE.<\/p>\n

Nokia, which is based in Espoo, Finland, said North America, Japan, China, South Korea and the Nordic countries are regions where the new technology will see its commercial launch.<\/p>\n

Suri was tight-lipped in commenting on the troubles currently facing Chinese competitor Huawei, which was Monday indicted on U.S. charges including technology theft.<\/p>\n

There are also allegations that Huawei, the world’s leading provider of networks, could allow the Chinese government to spy in certain countries through its systems.<\/p>\n

Some industry experts believe Huawei’s legal troubles could benefit Nokia and its Nordic rival, Ericsson.<\/p>\n

\u201cWe’re following the situation closely. We’re here to help our clients when they need it,\u201d Suri told YLE. \u201cThere’s not much more to say about this.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

HELSINKI — Telecoms gear provider Nokia reported Thursday a rise in fourth-quarter earnings thanks to strong demand for new-generation mobile …<\/p>\n","protected":false},"author":33,"featured_media":200329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-200313","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-jari-tanner","mauthors-the-associated-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/200313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=200313"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/200313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/200329"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=200313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=200313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=200313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}