The share price dropped 20% to 3.79 euros in Helsinki as Nokia said it would stop dividend payments to boost investments into 5G. CEO Rajeev Suri said that risks previously flagged regarding the initial phase of the rollout of the high speed 5G networks are “now materializing” for Nokia. He said there was “pricing pressure” in closing initial 5G deals, reflecting operators’ reluctance to pay premium prices for the new network technology that allows ultra-fast downloading speeds. ADEarlier this month, the European Union warned that 5G networks face a range of cyber threats, including from hostile countries. It only briefly mentioned Huawei as one of the main suppliers of 5G equipment, alongside with Nokia and Ericsson - the three main companies that dominate the network business.

Source: Washington Post October 24, 2019 07:41 UTC