Finland based Nokia said on Friday that it will invest four billion dollars in the United States to support research, development, and production activities that will advance artificial intelligence driven network connectivity.
The company said that three point five billion dollars from the total investment will go towards research and development work. It added that five hundred million dollars will be used for manufacturing and capital spending in states such as Texas, New Jersey, and Pennsylvania.
Nokia, which operates more than a dozen sites across North America and owns Bell Labs in New Jersey, introduced a new strategy on Wednesday. The strategy aims to simplify operations with a focus on artificial intelligence.
Finnish President Alexander Stubb said earlier in October that Nokia was one of the subjects discussed with United States President Donald Trump during a meeting at the White House.
The announcement comes after Nokia issued a profit warning in July linked to tariffs and a weaker dollar. Some companies outside the United States have started moving production there to reduce trade risks.
The United States does not have a major domestic maker of telecom equipment. This leaves Nokia, Ericsson and Samsung as the main choices.
Chief executive Justin Hotard, who joined Nokia from Intel earlier this year, told Media on Wednesday that Nokia’s network strategy is centred on countries that value Western technology.
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