Nokia has hired more than three hundred engineers in Finland to speed up the development of its 5G network technology. The telecom network equipment maker has already revealed its plan to bring 5G and as of now, the company is working out on some details.
The company rivals to China’s Huawei and Sweden’s Ericsson, they slashed their profit for 2019 and 2020 outlook. According to Nokia, they will make more profit under pressure as the company is spending more to fend off their rivals in the ever-increasing 5G network business.
According to the new information provided by a Nokia spokesperson in an email, the company has hired 350 Staff in Finland in which they have 240 people who will work on the development of their mobile network units and the others will work on the development of their SoC integrated circuits.
Since the position for the head is taken by Tommi Uitto the company has sped up their hiring process after he took his position in the company.
The shares for the Nokia went down on Thursday after the company posted a disappointing result in their third quarter. Nokia shares are about 30 percent down this year.
Nokia has reshuffled its management just a year ago and they replace the former head of their mobile networks.
There was a change in the leadership of the company just a year ago and it was so that the company has proper understanding and focus on the goal to process towards 5G. The key customer for Nokia in their biggest 5G markets have limited their spending because of the talks regarding a merger.
Peter Beaumont is a senior reporter on the Guardian’s Global Development desk. He has reported extensively from conflict zones including Africa, the Balkans and the Middle East and is the author of The Secret Life of War: Journeys Through Modern Conflict. Email: email@example.com