Olivier and Mann – In its effort to find ways to further growth, Nokia Corp. (NOK) has been working to develop 5G, undeterred that extensive deployment of the technology will take few more years.
The Finnish company inked an agreement with the U.S. semiconductor giant Intel Corp. (INTC) to operate two 5G solution labs to test and accelerate the commercial preparedness of the 5G technology.
Intel and Nokia stated that the labs will be located in New Jersey in the U.S. and in Espoo, Finland. Both labs will test and enhance products, capabilities, and services of the 5th generation mobile technology. The labs will be working also with other telecom players to bolster testing.
The technology could provide an array of extraordinary commercial opportunities to telecom players and the Nokia-Intel 5G Solutions Lab can provide them with very important input to help improve and generate new products.
The Finnish company’s effort to push through with the development of the 5G technology is considered crucial for Nokia and for the whole telecoms sector as the smartphone market has become saturated, industry players are now searching for new ways to increase their profits.
The Internet of Things (IoT) is set to support its increase use, thus all major telecom companies are now depending on 5G to increase internet connectivity.
Nokia said that 5G will play an important part in the integration of IoT in future devices.
The company’s leadership with 4G technology and its present work with 5G should enable Nokia to maintain its position at the forefront of the IoT market.
Industry experts expect that 5G will reinvigorate the mobile market, however, it is not expected to be fully introduced until another three years or so and will take years before the market fully embraces the capabilities of the technology.