Finland’s Nokia reported that it plans to invest $4 billion in the United States, focusing on research, development and production to drive advances in network connectivity powered by artificial intelligence.
The telecommunications equipment maker said $3.5 billion of the investment will be allocated to R&D efforts. He added that $500 million will be spent on manufacturing and capital expenditures in states such as Texas, New Jersey and Pennsylvania.
Nokia, which operates more than a dozen sites in North America and owns Bell Labs in New Jersey, on Wednesday introduced a new strategy aimed at streamlining operations with an emphasis on AI.
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Finnish President Alexander Stubb said in early October that Nokia was one of the topics discussed with US President Donald Trump in a meeting at the White House.
Friday’s announcement follows a July profit warning linked to tariffs and a weakening dollar, as some non-U.S. companies shift production there to mitigate trade risks.
The United States lacks a major domestic telecommunications equipment manufacturer, leaving Nokia, Ericsson, opens new tab, and Samsung, opens new tab, as the top options.
Chief Executive Justin Hotard, who joined Nokia from Intel earlier this year, told Reuters on Wednesday that Nokia’s focus for networks is on countries that value Western technology.
With information from Reuters.
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