Nokia to Invest $391 Million in Germany

Nokia, a finnish multinational telecommunication company, has unveiled it $391 Millions (360 Million Euro) investment in software development, hardware production and chips designs. The company announced this today at its Ulm and Nuremberg sites in Germany.

The initiative is going to be a four-year project whereby Nokia, the German Federal Ministry of Economics and Climate Protection and two unclosed German states will be funding the project with $391 million for the four years planned.

At the time this article is published, one dollar is equivalent to 0.9207 euro. Hence, the project is being funded with €360 million. However, we also expect the funds to be directed towards research and development activities, aiming to advance Nokia’s capabilities in 5G and future 6G technologies, as well as in the field of industrial automation.

The $391M (€360M) investment signifies Nokia’s commitment to its German operations and its ambition to play a key role in the country’s future technological landscape.