Huawei: Nokia has signed as many 5G contracts as its embattled Chinese rival
CNNHong Kong CNN Business — Nokia is taking advantage of Huawei’s troubles to catch up with its Chinese rival in the global 5G race. “Huawei’s 5G business growth is facing some headwinds … but it’s still keeping the momentum,” said Dai, noting that the Chinese company last week announced a memorandum of understanding with the African Union which would cover the rollout of 5G networks. Huawei’s telecom equipment is also facing new roadblocks — SoftBank announced last week that it chose Nokia and Swedish firm Ericsson for its 5G network, shunning Huawei which had been a vendor for the Japanese carrier’s 4G network. “If Huawei’s ability to sell and support its network equipment to operators in certain parts of the world is impaired, as the company is currently prevented from doing in the US, Ericsson and Nokia would likely benefit,” analysts at Fitch Ratings said in a recent note.