(Reuters) – Finnish telecom equipment maker Nokia is seeing a pick up in orders as its broadband clients race to upgrade networks to meet higher user demand during the COVID-19 pandemic, a company executive said.
FILE PHOTO: Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez/File Photo
Many customers had planned to grow their network by 30% to 40% over the next few years assuming a similar growth in traffic, but COVID-19 brought in that traffic growth overnight, Sandy Motley, Nokia’s President of Fixed Networks, told Reuters.
“Customers will need to accelerate the growth that they had planned in the future, and we’ve seen customers already talking to us about that,” she said, adding orders for fixed networks were up 22% in the first quarter.
Nokia boosted its fixed-line networks business with the 2016 purchase of Alcatel-Lucent in a 15.6 billion-euro ($17 billion) deal. The unit’s revenue fell…
Source Reuters Tech News
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