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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Nokia Oyj    NOKIA   FI0009000681

NOKIA OYJ

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Nokia Oyj : and stc launch the operation of Technology Innovation Center to stimulate innovation

11/25/2020 | 02:27am EST

Press Release

Nokia and stc launch the operation of Technology Innovation Center to stimulate innovation

  • Nokia and STC will carry out initiatives to develop use cases to support Saudi Government's Vision 2030
  • The center will provide an opportunity for STC employees to interact with Nokia and its international partner network to develop innovative products and services
  • STC to utilize Nokia's Open Network Ecosystem to develop and showcase new solutions

25 November 2020

Riyadh, Kingdom of Saudi Arabia - Nokia and stc today announced a joint collaboration to operate stc's Technology Innovation Center in Riyadh. An agreement was signed to this extent by Abdullah Alowini, VP, Technology Strategy and Architecture at stc, and Khalid Hussain, Saudi Country Senior Officer at Nokia, in the presence of Haitham Al Faraj, SVP, Technology and Operations at stc, and Amr K. El Leithy, Head of Middle East and Africa Market at Nokia. The five-year project will see Nokia carry out several programs to help stc develop at least four truly innovative use cases every year to support stc's business goals.

Nokia will also support stc with the development of innovative use cases for new upcoming technologies. stc will also join Nokia's Open Ecosystem Network, a digital collaboration platform which brings companies together to help them innovate and develop new ideas. This is where the center's digital community will be hosted.

Communications Service Providers (CSP) worldwide are working towards developing an innovation mindset to create new use cases for next generation technologies such as 5G. STC has partnered with Nokia to achieve innovative use cases, utilizing Nokia's proven expertise in the latest technologies such as 5G, Mobile Edge Computing, Internet of Things (IoT), Cloud Platform, Augmented Reality (AR), Virtual Reality (VR), Artificial Intelligence (AI) and Machine Learning (ML).

Under the partnership, Nokia will also raise stc engineers' capabilities to develop an entrepreneurial mindset that will help them build use cases in line with unique requirements of Saudi Arabia. Nokia will conduct several competitions to stimulate new ideas and use cases. A winner will be selected at the end of every challenge, contest or hackathon, based on the concept or business viability. This will help STC develop new revenue generation streams.

Nokia will utilize its learnings and insights from several other partnerships worldwide to efficiently manage and operate the innovation center. In addition, Nokia will conduct several activities, including new product development practices, lean start-up methodologies, internal innovation enablers, service design, co-creation, cross-pollination, and technology scouting, to stimulate new ideas.

The innovation center will be equipped with the latest technologies and will leverage Nokia's Open Ecosystem Network. It will provide an opportunity for STC employees to interact and benefit from Nokia's international partner network. The exchange of ideas and interaction with global subject matter experts will help develop innovative services and products.

Abdullah Alowini, VP, Technology Strategy and Architecture at stc, said: 'We are committed to providing the latest products and services, and this is a crucial initiative in this direction. The innovation center will develop path-breaking use cases that will improve the lives of the people and contribute to the economic and social development of Saudi Arabia in line with Saudi Vision 2030. We are confident that this program, in collaboration with Nokia, will help us in developing local content and innovative use cases to improve the quality of lives of our people.'

Khalid Hussain, Saudi Country Senior Officer at Nokia, said: 'This collaboration is testimony to yet another strong, evolving partnership between stc and Nokia, contributing towards fast realization of Saudi Vision 2030. We are excited to work with stc on this unique initiative to develop unique ideas. We look forward to leveraging our global perspective, insights and technology expertise to help conceptualize new ideas to enhance the quality of life of the citizens.'

Resources
Webpage: Nokia Open Ecosystem Network

About Nokia
We create the technology to connect the world. Only Nokia offers a comprehensive portfolio of network equipment, software, services and licensing opportunities across the globe. With our commitment to innovation, driven by the award-winning Nokia Bell Labs, we are a leader in the development and deployment of 5G networks.

Our communications service provider customers support more than 6.4 billion subscriptions with our radio networks, and our enterprise customers have deployed over 1,300 industrial networks worldwide. Adhering to the highest ethical standards, we transform how people live, work and communicate. For our latest updates, please visit us online www.nokia.com and follow us on Twitter @nokia.

Media Inquiries:

Nokia
Kannan K
Nokia Media Relations
Phone: +971 529 823 406
E-mail: kannan.k@nokia.com

Communications
Phone: +358 (0) 10 448 4900
E-mail: press.services@nokia.com

Disclaimer

Nokia Oyj published this content on 25 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2020 07:26:00 UTC


© Publicnow 2020
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Sari Maritta Baldauf Chairman
Marco Wirén Chief Financial Officer
Marcus Weldon Chief Technology Officer
Kari Henrik Stadigh Vice Chairman
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