Nokia bags $40M from Canada for 5G innovation.

Canada will be investing up to $40 million in Finnish telecom giant Nokia to conduct research on 5G technology. Said to be the next big wave in wireless tech, 5G will drive innovation in areas like VR/AR, autonomous cars, and better, more reliable internet connections in rural areas. 

A Government of Canada release today stated that in the deal Nokia will "develop cybersecurity tools to protect telecommunications networks," and establish a new Nokia Bell Labs to take on the 5G research.

"We are pleased to stand as a strong partner to Canada's innovation ecosystem by joining forces with Innovation, Science and Economic Development Canada and creating a new Canadian presence for Nokia Bell Labs," said Rajeev Suri, President and CEO of Nokia. "Together, we will enable a digital future powered by cutting-edge technologies such as 5G, IoT, cloud computing, artificial intelligence and machine learning, transforming Canada's industries, cities, and local communities."

The announcement of the Nokia deal comes at a tumultuous time in Canadian 5G development as the country's telcos partner with their respective vendors to build out their 5G networks.

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