Nokia explores options for asset sale and mergers

Telecom network equipment maker Nokia is exploring strategic options and is working with advisers to consider potential asset sales and mergers, Bloomberg News reported.
Finland-based Nokia, which competes with Ericsson and Huawei for 5G network equipment, said in February it expects intense competition to continue in 2020, as rivals seek to grab market share.

5G networks are at the center of a brewing technology war between United States and China, as they are expected to host critical functions including driverless vehicles, smart electric grids and military communications.

Earlier this month, U.S. Attorney General William Barr said the United States and its allies should consider investing in Nokia and Ericsson to counter Huawei’s dominance in 5G technology.