Trump plans to buy Nokia & Ericson to counter Huawei
By MYBRANDBOOK
US Attorney General William Barr has suggested the Trump administration to acquire either Nokia or Ericson or both companies to bolster its competition with China in the 5G race.
While China has a homegrown 5G network in Huawei, the US doesn’t have its own network. Nokia and Ericsson are Huawei’s major competitors in the telecom kits market. Therefore, Barr thinks the Trump administration’s best bet in the 5G competition with China is backing Huawei’s rivals.
However, not everyone in the Trump administration agrees with Barr’s suggestion. Vice President Mike Pence thinks that there’s a better way to counter China than the US purchasing Huawei’s competitors. President Trump’s economic advisor, Larry Kudlow, also thinks that the US taking control of Nokia and Ericsson isn’t a very smart idea.
Overall, 5G technology holds a big promise for the world as 5G could supercharge tech innovation. For example, 5G technology could improve mobile phone services and open new business opportunities for mobile network operators. Also, 5G could supercharge autonomous driving and boost generally Internet connectivity like connecting factory machines to the Internet.
Beyond the 5G rollout race against China, the US has also been leading a global campaign against Huawei. Specifically, the Trump administration is urging US allies to lock Huawei out of their 5G markets. However, Britain and the European Union have allowed Huawei to participate in their 5G markets with restrictions.
The US investing in Huawei’s rivals is just one way for it to try and stay ahead of China in the 5G race. The other option is encouraging US companies to acquire or invest in Nokia and Ericsson. The two companies have a combined market capitalization of about $50 billion.
Financially, Alphabet, an US based company could afford to purchase Nokia and Ericsson.
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