Nokia to invest $391 mln in Germany

Finland’s Nokia is set to invest 360 million euros ($391 million) in software, hardware, and chip design in Germany, Reuters reported on Wednesday.

The four-year project will take place in the company’s Ulm and Nuremberg sites in Germany and is funded by Nokia, the German Federal Ministry of Economics and Climate Protection (BMWK), and the German states of Baden-Württemberg and Bavaria.

The chips produced will be used in radio and optical products in futures telecom systems based on the 5G-Advanced and 6G standards.

The company also said in a statement that it was working to expand its “extensive experience in chip design and strengthening the European value chain.”