{"id":20017,"date":"2025-01-21T18:17:37","date_gmt":"2025-01-21T17:17:37","guid":{"rendered":"https:\/\/telecomkh.info\/?p=20017"},"modified":"2025-01-21T18:17:37","modified_gmt":"2025-01-21T17:17:37","slug":"nokia-and-ericsson-host-european-industry-and-policymakers-for-urgent-call-to-secure-europes-tech-future","status":"publish","type":"post","link":"https:\/\/telecomkh.info\/?p=20017","title":{"rendered":"Nokia and Ericsson host European industry and policymakers for urgent call to secure Europe\u2019s tech future"},"content":{"rendered":"

Europe\u2019s connectivity leaders Nokia and Ericsson are at the heart of a technology and economic drive to secure European prosperity through innovation, investment, tech leadership and digitalization success on the global stage<\/strong><\/p>\n

The summit aims to catalyze momentum across the EU to implement the actions required to deliver future European digitalization success \u2013 including a more supportive regulatory environment and making the region more attractive to investors.
\nAt the summit participated senior European political figures – including Henna Virkkunen, European Commission Executive Vice President for Tech Sovereignty, Dariusz Standerski, Deputy Minister of Digital Affairs for Poland; and former Italian Prime Minister, Enrico Letta – to discuss how Europe can act on the warnings from respected European technology CEOs and implement the Draghi and Letta reports.
\nAt the he summit also participated Pekka Lundmark, President and CEO of Nokia; B\u00f6rje Ekholm, President and CEO of Ericsson; Christian Klein, CEO of SAP; and joined by Christophe Fouquet, CEO of ASML.
\nThese CEOs are united in their conviction that digitalization leadership is central to delivering future European prosperity. The CEOs have significant insight and knowledge about how to drive this forward.
\nImplement the Draghi and Letta reports
\nThe September 2024 Draghi Report recommendations on the future of European competitiveness span a range of actions to foster innovation, incentivize investment in key technologies, enable scale, and reduce fragmentation.
\nThe Draghi Report followed Enrico Letta\u2019s own April 2024 report for the European Council and European Commission called: Much More than a Market: Speed, Security, Solidarity – Empowering the Single Market to deliver a sustainable future and prosperity for all EU Citizens.<\/p>\n

Fact Box: The current reality<\/strong>
\n\u2022 Europe\u2019s tech sector lags the US and China.
\n\u2022 The \u2018Magnificent Seven\u2019 US tech firms\u2019 R&D spend in 2023 alone was equivalent to 50 percent of Europe\u2019s ENTIRE public and private sector R&D spend across technology and other areas.
\n\u2022 European companies trail in R&D and capital formation (EUR 450 billion gap in tech alone).1
\n\u2022 This gap contributes to a 20 percent productivity disadvantage per year.2
\n\u2022 US firms invest 60 percent more in R&D and lead productivity growth.3
\n\u2022 Europe therefore risks falling further behind.<\/p>\n

The participating CEOs will emphasize that the networks forming the backbone of Europe\u2019s economy and future innovation must be secure and trusted. Advanced connectivity is also critical for the digitalization of defense. The 5G Security Toolbox is vital and needs to be extended to all telecom technologies with its implementation needing to be completed all member states.<\/p>\n

A defining moment<\/strong>
\nTaking the start of the new European Commission mandate as a defining moment for critical action, summit participants will stress that urgent reforms are essential to securing Europe\u2019s future competitiveness, prosperity, and global influence.
\nNokia President and CEO, Pekka Lundmark and Ericsson President and CEO, B\u00f6rje Ekholm are among senior European technology leaders who have been vocal about the need for urgent action to support Europe\u2019s technology sector. The summit marks the first time that Nokia and Ericsson have come together to organize and drive an industrial vision initiative \u2013 underlining the importance and urgency both companies give to the issue.
\nEnrico Letta, President of the Jacques Delors Institute and former Italian Prime Minister, says: \u201cIn my 2024 report, I underscored the urgent need for Europe to accelerate investments in advanced connectivity infrastructure to secure its future. The leadership demonstrated by companies like Nokia and Ericsson in fostering collaboration with other European tech innovators, such as ASML and SAP, is commendable. However, to enhance Europe\u2019s competitiveness in the global digital economy, it is essential not only to allow greater telco consolidation but also to prioritize substantial investments in advanced connectivity. This focus is vital for addressing the connectivity gaps across the continent and ensuring that Europe remains at the forefront of tech innovation.\u201d
\nPekka Lundmark, President and Chief Executive Officer, Nokia, says: \u201cEuropean competitiveness already has one foot in the morgue. Our real GDP is 30% less than the U.S.\u2019s, the EU\u2019s share of the Fortune Global 500 is still falling and our digital future looks less certain than ever. The good news is that we can still turn this tanker around. Europe must create an environment in which businesses want to invest, especially on technologies such as AI, cloud and advanced connectivity. This cannot be a decade-long endeavour. Europe must act right now on issues like the 5G Toolbox and telco mergers. If Europe gets this right, it\u2019s a massive opportunity. Draghi and Letta already provided the framework. So, let\u2019s act.\u201d
\nB\u00f6rje Ekholm, President and CEO, Ericsson, says: \u201cThe unique coming together of four technology leaders highlights the urgency facing Europe\u2019s economy to decision makers in Member States. Companies like Ericsson already invest disproportionally more in R&D in Europe. If other regions continue to race ahead this model cannot survive. Those regions are embracing opportunity through investment, policy, and regulatory support. Europe is not. Yet the solution is well known. The EU must implement the Draghi and Letta Report recommendations to enable the technology sector to play our part in delivering future European prosperity.\u201d
\nChristian Klein, CEO, SAP, says: \u201cNew technologies will bring growth and higher productivity for Europe. That is why we need to act and drive digitalization across all sectors. Policymakers can support a European tech renaissance by reducing regulatory burdens, incentivizing R&D across the economy, digitizing and modernizing public administration, making Europe more attractive to tech talents, and reshaping education so as to give the next generation a deeper understanding of today\u2019s complex relationships between technological and economic success.\u201d<\/p>\n

Fact Box: Action calls<\/strong>
\n\u2022 Don\u2019t debate the Draghi and Letta reports \u2013 implement them to foster innovation, incentivize investment in key technologies, enable scale, and reduce fragmentation.
\n\u2022 Strengthen R&D, capital access, and tech champion support.
\n\u2022 Reduce and simplify regulation and enforce a digital single market.
\n\u2022 Fully implement the 5G Security Toolbox: 5G and fiber are critical for digitalization; Secure, trusted networks are vital for economic resilience and innovation.
\n\u2022 Reform competition\/M&A guidelines to support market consolidation.
\n\u2022 Set clear targets for 5G deployment and trade spectrum fees for rollout.
\n\u2022 Align connectivity with EU green goals.
\n\u2022 Enforce fair business practices. Withdraw harmful proposals like the current legislative proposal on Standard Essential Patents.<\/p>\n

Resources and additional information<\/strong>
\n1. McKinsey Global Institute June 20, 2024: Investment: Taking the pulse of European competitiveness.
\n2. ECIPE Policy Brief (p. 20): ECI_24_PolicyBrief_09-2024_LY07.pdf
\n3. McKinsey Global Institute June 20, 2024: Investment: Taking the pulse of European competitiveness.<\/p>\n

Above, B\u00f6rje Ekholm, President and CEO of Ericsson and Pekka Lundmark, President and CEO of Nokia at the New Industrial Action for Europe summit in Brussels<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Europe\u2019s connectivity leaders Nokia and Ericsson are at the heart of a technology and economic drive to secure European prosperity through innovation, investment, tech leadership and digitalization success on the global stage The summit aims to catalyze momentum across the EU to implement the actions required to deliver future European digitalization success \u2013 including a … <\/p>\n

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