According to the latest news of the Wall Street Journal on May 22, the Nordic technology tycoon – Nokia said that the company has received 37 5G commercial contracts. This figure is higher than the 36 that Nokia said when it disclosed its first-quarter results last month. As a Nordic technology tycoon, Nokia has already competed with Huawei for 5G in the global market.

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According to Nokia News, 20 of the 37 5G commercial contracts received were signed with designated customers, including T-Mobile, AT&T, Saudi Telecom Co. and Telia Co.AB. At the same time, Nokia said that the current power is increasing the 5G spending cycle to support Nokia’s end-to-end and all-round business advantages. The data shows that the current percentage of end-to-end sales in Nokia’s sales channels is at its highest level in history.

In fact, Nokia, the world’s second-largest telecommunications equipment manufacturer after Huawei, is currently trying to expand in both Asian and US markets. The implementation of the US action happened to be an opportunity for Nokia to accelerate its development. It is worth mentioning that in order to simultaneously win the market share of Asian powers and the United States, Nokia has helped the United States launch its actions against Huawei while seeking to build its own business in China.

Data show that in 2018 Nokia’s business in China accounted for 10% of its sales revenue, reaching 2.1 billion euros. In addition, Nokia employs approximately 17,000 people in China and operates a factory and six research centers. In July last year, Nokia just signed a $1.1 billion communications equipment contract with China Mobile, and three weeks later signed a $3.5 billion contract with T-Mobile to provide 5G equipment and services.

In fact, the Nordic technology giant has been playing the role of “behind the scenes players”. When the global focus is on the United States and Huawei, few people will notice that Nokia is swallowing more global market share. Affected by Huawei’s incident, US companies have evaporated billions of dollars in market value in this storm, and Huawei’s US supply chain has also broken. In contrast, the biggest beneficiary of Huawei’s event is no doubt a European company.  Although Nokia can’t surpass Huawei, it can at least occupy more market share than before. Maybe one day in the future, Nokia will once again become the former “overlord.”