Finnish telecommunications company Nokia and Chinese tech firm Tencent have signed an agreement to work together on the development of new 5G applications.
The businesses have also agreed to explore the potential of 5G in the areas of transport, finance, energy, intelligent manufacturing and entertainment, with a joint lab being established in Shenzhen for development and end-to-end testing.
Tencent and Nokia will utilise 5G-enabled technologies such as AI and automation to promote international standards and an open-source ecosystem to expand the development of new services.
A strategic framework is under development based on a Memorandum of Understanding signed at the 2018 Mobile World Congress in Shanghai.
Zheng Yu, Vice President of Tencent has stated: “We are pleased to collaborate with Nokia to leverage the technologies, products and expertise of both our companies to fulfil the growing demands of a digital economy driven by 5G.
“Tencent and Nokia are fully committed to delivering richer, more diverse, multi-level services and applications for enterprises and individual customers. Furthermore, we will support each other in creating more financial and social benefits in our respective field, to pursue success in the new era of digital economy.”