Nokia Commits €360 Million Investment in Germany

Nokia, a leading telecommunications company, has announced its plans to invest a substantial amount of 360 million euros ($391.6 million) in software, hardware, and chip design at its Ulm and Nuremberg sites in Germany. This investment is part of a four-year project called "Important Projects of Common European Interest" and has received funding from Nokia, the German Federal Ministry of Economics and Climate Protection, and the German states of Baden-Wurttemberg and Bavaria.

The primary focus of this funding will be the development of new energy-efficient software, hardware, and microelectronics for future communication technologies. Nokia aims to drive innovation and strengthen competitiveness in the telecommunications industry in Germany and throughout Europe.

Tommi Uitto, Nokia's president of mobile networks, emphasized the significance of this funding. He stated, "This important funding will support our efforts to advance the telecommunications industry in Germany and in Europe, helping to drive innovation and strengthen competitiveness. 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."

This investment showcases Nokia's commitment to pushing the boundaries of technology and fostering cutting-edge advancements in the telecommunications sector. It highlights their dedication to sustainable and eco-friendly solutions while positioning them at the forefront of future technologies.