30 APR 2021
Nokia CEO Pekka Lundmark (pictured) used the vendor’s Q1 earnings call yesterday (29 April) to vow it will bid in the next round of network tenders in China later this year.
The CEO highlighted the competitiveness of China, a market he previously stated was an important target for Nokia.
“We will participate in the upcoming tendering rounds…what they may or may not lead to, it’s too early to speculate”, Lundmark said.
Nokia missed out on 5G contracts with the three major operators in China in 2020. At the time, Lundmark’s predecessor Rajeev Suri noted the vendor would remain a player in the market through existing 4G deals, while also reportedly eyeing a win involving China Unicom’s next-generation core.
The Finnish vendor’s Chinese R&D unit builds 700MHz 5G equipment for the market.
During the call, Lundmark also highlighted progress in improving the competitiveness of Nokia’s mobile product portfolio and operating margins.
Since taking the helm in August 2020, the CEO has implemented a sweeping restructuring plan aimed at resetting its cost base and increasing 5G R&D investment.
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