Nokia Announces Investment In Germany - Quick Facts

(RTTNews) - Nokia (NOK) said it plans to invest 360 million euros in software, hardware and chip design at Ulm and Nuremberg sites. The company is conducting a four-year European IPCEI project, which is being funded by Nokia and the German Federal Ministry of Economics and Climate Protection and the German states of Baden-Wurttemberg and Bavaria.

Tommi Uitto, President of Mobile Networks at Nokia, said: "This important funding will support our efforts to advance the telecommunications industry in Germany and in Europe. In particular, it will help our research into microelectronics that will power future technologies such as 6G, artificial intelligence and the metaverse."