Nokia Oyj (ADR) (NYSE:NOK) to Transform Tianfu Into a Technology Hub Using Smart City Expertise

Nokia Oyj (ADR) (NYSE:NOK) has signed an agreement with the Tianfu Area Chengdu Administrative Committee for the development of a digital smart city. Under the agreement, the Finish Company will work on the establishment of a new data center as well as telecommunication infrastructure.

Nokia Smart City Push

Nokia will also assist in the development of a trial network for the Internet of Things as well as the deployment of end to end optics network in the region. The push builds upon a number of agreement that the Finish Company has signed in the recent past as it continues to develop smart cities. The company is currently following its Smart City Playbook strategy launched in 2016 as part of the latest initiatives.

This is not the first time that Nokia has set its eyes on Chengdu as part of an effort that seeks to position it as a center for growth. Back in 2015, the telecommunication equipment giant unveiled plans for the development of a global Research and development center mostly focusing on IoT and cloud technologies. The center is already up and running employing hundreds of people from the region.

“[…]. The communications network will serve as the brain and nervous system of the smart city, and we welcome the opportunity to apply Nokia’s technology and know-how to the challenge of building the digital infrastructure that will support this groundbreaking effort,” said Mike Wang, Nokia President for Greater China.

Growth Opportunities

Buoyed by the partnership Director of the Tianfu New Area says Nokia’s expertise in the development of smart cities will help position the area as a new center for growth. Building a smart city on Chengdu comes on the heels of the completion of network upgrade works in Greece where the company had teamed up with the nation’s largest telecommunication company Cosmote.

Nokia has also inked a deal with T-Mobile US Inc. (NASDAQ:TMUS) that will see it assists the carrier on the development of the are superfast 5G network. The slate of agreements are key to Nokia development efforts that have seen it try to expand its customer base beyond its traditional sphere.

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