Nokia CEO says carriers face substantial 5G investment needs
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The chief executive of Nokia Oyj signaled that a near-term decline in operator demand for 5G gear in a worsening economy will turn out to be a passing phenomenon given a “substantial need” to invest in those networks globally.Nokia on Thursday reiterated that challenges stemming from a deteriorating economic outlook and customers working through existing inventory intensified in the second quarter and are set to continue in the second half. It had made similar remarks last week when cutting its full-year guidance. “We are of the opinion that this has to be a question of timing because data traffic continues to grow 20 to 30% per year globally,” Chief Executive Officer Pekka Lundmark said in an interview. “In Mobile Networks there is still substantial need for operators to invest ...