On Nokia’s Annual General Meeting, Rajeev Suri, President and CEO of Nokia Corporation, commenting on the 5G market said, “Nokia’s strategy is to lead in high-performance end-to-end networks for operators, expand to select vertical markets that need high-performing secure networks, build a strong standalone software business and create new licensing opportunities. The 5G-driven spending cycle that is now building momentum supports Nokia’s end-to-end, full-portfolio strengths. Consequently, end-to-end sales as a percentage of sales pipeline are now at the highest point ever.”
Rajeev Suri further said, “5G is not the future anymore. It is here, and Nokia is leading it. We are winning deals and rolling out some of the world’s first 5G networks. We now have 37 5G commercial contracts – 20 with named customers including T-Mobile, AT&T, STC, and Telia – and more than half of them include wider portfolio elements that our competitors cannot match. We have some amazing technology. In fact, in pretty much every network where Nokia products are deployed, we are the performance leader. This doesn’t just happen on its own. It happens because we focus on excelling in the technology that matters the most. 5G is now accelerating and the power of Nokia’s end-to-end portfolio is being recognized.”
In the same time he admits “We are late in 5G by a few weeks to a couple of months.”. On question about the opportunity presented by the US moves to stop telcos installing Huawei equipment, Suri replied: “Perhaps there is long term opportunity but more than that, it’s hard to say at this point.”.
Despite the concerns caused by US moves against Huawei, Nokia said it has won only one additional commercial 5G contract since its Q1 results late last month.