It is believed that against the backdrop of US sanctions against Huawei, European manufacturers of base stations for 5G networks, including Nokia, will be able to benefit materially. The recently appointed new CEO of the Finnish company does not believe that business should use the political factor in shaping strategy.
Pekka Lundmark, who returned to Nokia as CEO after a twenty-year hiatus, explained in an interview with Reuters that it is important to maintain good relations with governments around the world, but for business it is common practice. For a private company, he said, it would be a big mistake to promote some kind of political program. Nokia is not going to be involved in politics, but will be guided only by the interests of business.
Lundmark inherited a complex economy from its predecessor. Nokia shares have fallen in price by 40% since 2015, recently a restructuring was carried out, but the Finnish company will tell about further plans only at an event for investors, which will be held before the end of the year. This form of presentation of information is not quite typical for Nokia, which only underlines the importance of the moment. First, the new management will have to agree on strategic plans with Nokia’s board of directors. Lundmark looks to the future with cautious optimism, and calls his new position “dream job”, emphasizing that for him it is comparable to returning home.
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