Nokia to Invest EUR360 Million in Microelectronics and Communication Tech in Germany
17 January 2024 - 7:04PM
Dow Jones News
By Dominic Chopping
Nokia plans to invest 360 million euros ($391.6 million) in
software, hardware and chip design at its Ulm and Nuremberg sites
in Germany, it said Wednesday.
The company is conducting a four-year Important Projects of
Common European Interest project, which is being funded by Nokia,
the German Federal Ministry of Economics and Climate Protection and
the German states of Baden-Wurttemberg and Bavaria.
Funding will see development of new energy-efficient software,
hardware and microelectronics for future communications
technologies, it added.
"This important funding will support our efforts to advance the
telecommunications industry in Germany and in Europe, helping to
drive innovation and strengthen competitiveness," said Tommi Uitto,
Nokia's president of mobile networks.
"In particular, it will help our research into microelectronics
that will power future technologies such as 6G, artificial
intelligence and the metaverse as well as develop networks that are
more energy-efficient and powerful."
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
January 17, 2024 02:49 ET (07:49 GMT)
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