Nokia CEO Rajeev Suri said the telecom operator has signed 37 5G commercial contracts including 20 with named customers including T-Mobile, AT&T, STC, and Telia.
The comments assume significance because Huawei, the main rival of Nokia, is banned by the United States. Huawei cannot source components for its future 5G and other telecom network products without the approval from the Donald Trump administration.
“We are leading the 5G market. We are winning 5G deals and rolling out some of the world’s first 5G networks. In pretty much every network where Nokia products are deployed, we are the performance leader,” Rajeev Suri said at the company’s annual general meeting in Helsinki, Finland.
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.
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.
Nokia CEO revealed that it will undertake efforts to eliminate, by July 2019, any statistically significant pay gap in the company that cannot be explained by factors such as performance, experience, job grade, or location.
Nokia recently launched the liquid-cooled base station, emitting 80 percent less CO2 than previous generations of products.
Nokia in January warned of a soft start to 2019 before a better second half for its 5G mobile network technology.
The telecom networks industry faces slowing demand since 4G network sales peaked in the middle of the decade but a new cycle of network upgrades appear to be kicking in as demand for 5G services increases.
Nokia in 2018-end restructured its mobile network business focusing on winning more 5G network deals. Nokia has replaced Marc Rouanne, Nokia’s head of mobile networks, with the appointment of Tommi Uitto, an expert in radio technologies. Nokia earlier lost Ilkka Rahnasto head of its patent business.
Nokia has secured a 500 million euro or $572 million loan from the European Investment Bank to step up development of next-generation 5G technology.