FINLAND’S Nokia said yesterday it plans to invest $4 billion in the US, targeting research, development, and production to drive advancements in artificial intelligence-driven network connectivity.
The telecom equipment maker said that $3.5bn of the investment will be allocated to R&D efforts. It added $500 million will be spent on manufacturing and capital expenditures in states including Texas, New Jersey, and Pennsylvania.
Nokia, which operates over a dozen sites in North America and owns Bell Labs in New Jersey, introduced a new strategy on Wednesday aimed at streamlining operations with an emphasis on AI. Finnish President Alexander Stubb said earlier in October Nokia was one of the topics discussed with US President Donald Trump at a White House meeting.
Yesterday’s announcement follows a profit warning in July tied to tariffs and a weakening dollar, as some non-US firms shift production there to mitigate trade risks. The US lacks a major domestic maker of telecom equipment, leaving Nokia, Ericsson and Samsung as the main options.
CEO Justin Hotard told Reuters on Wednesday that Nokia’s focus for networks is on countries that value Western technology.
&uuid=(email))