Nokia Corporation (NYSE: NOK) revealed it has partnered with Tampere university to establish a center of excellence. The company aimed to speed up the launch of the technology into the ReefShark chipset portfolio of Nokia. This joint venture is expected to create a foundation for the long-term development of silicon-based processors.
Nokia Corporation considered itself the main player in the global 5G world. There was a time when Nokia was the leading mobile phone maker but with the passage of time and the emergence of new technologies this company has lost the race. The Finnish company has reinvented itself and now recognized as the leading communication equipment provider.
After the joint venture between Nokia and Tampere university, it is expected that the new ‘center of excellence’ will be opened in November this year. Finland based company is continuously trying to adopt new technological changes to keep pace with fast-growing markets. Nokia Corporation is looking at various areas such as machine learning, security hardware development, and artificial intelligence.
Nokia Corporation (NYSE: NOK) shares were trading down -0.51% at $3.91 during the trading session on Wednesday. Nokia’s share price went from a low point around $2.34 to briefly over $5.28 in the past 52 weeks. It has moved up 67.09% from its 52-weeks low and moved down -25.95% from its 52-weeks high. NOK market cap has remained high, hitting $22.29 Billion at the time of writing.
Nokia Corporation has introduced 4G and 5G network slicing solutions which will enable operators to deploy and manage network slices across multi-domain environments. Nokia is the first vendor who introduced this new technology. This new achievement fulfilled Nokia’s promise of implementing a 5G ecosystem for its customers.
The Finnish company has four main strategic priorities. The first priority is to take a leadership role in high-performance end-to-end networks with its CSP customers. The second priority is the persistent chase to grow network sales to choose vertical markets, in particular energy, transportation, public sector, technical extra-large enterprises, and webscale players. Building a strong independent software business is the third strategic priority. Fourthly, it aims to generate new business and licensing the opportunities available in the consumer ecosystem.