May 21, 2019 / 1:25 PM / a month ago

Nokia CEO admits to delays in rolling out 5G

HELSINKI, May 21 (Reuters) - Nokia Chief Executive Rajeev Suri said on Tuesday that the company had been a little slow in getting 5G technology up and running, citing merging its own technology plans with those of acquired Alcatel-Lucent as a reason.

Asked about the regulatory problems facing Chinese telecoms rival Huawei, he said: “Perhaps there is long term opportunity but more than that, it’s hard to say at this point.”

Nokia last month reported a surprise quarterly loss after it failed to supply 5G telecoms equipment in time.

“We are late in 5G by a few weeks to a couple of months,” Suri told Nokia’s annual shareholder meeting.

Suri told investors he remained confident the company would reach its annual financial guidance.

Reporting by Anne Kauranen; Writing by Tarmo Virki Editing by Keith Weir

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