Nokia's broadband receives boost during Covid-19 crisis
Finnish telecom company Nokia saw a boost in orders for its broadband as network operators moved to upgrade their networks during the Covid-19 pandemic in response to client demand for better network connectivity
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Many of the firms customers had already planned to grow their network capacity by 30% to 40% over the next few years assuming a similar trend in traffic growth but had in fact been forced by recent events to grow that much overnight.
Sandy Motley, Nokia’s President of Fixed Networks, told Reuters: “Customers will need to accelerate the growth that they had planned in the future, and we’ve seen customers already talking to us about that,”
She added that orders for fixed networks were up 22% in the first quarter.
“We have seen some upgrades from our customers... but we think a lot of this drive will be more medium term and long term,” Motley said.
Nokia boosted its fixed-line networks business in 2016 following the purchase of Alcatel-Lucent for €5.6bn.