The logo of Nokia is seen before the company’s news conference in Espoo, Finland March 2, 2020. Lehtikuva/Markku Ulander via REUTERS
(Reuters) – Finland’s Nokia Oyj has entered into partnership with Marvell Technology, the companies said on Wednesday, as Nokia seeks to accelerate its so-far sluggish shift to 5G.
Nokia has struggled with slower-than-expected development of its Reefshark system on chips (SoC), which allow a single chip to carry an entire computer system, enabling Nokia to produce equipment more cheaply.
“The two companies are developing a new generation of custom system on chip (SoC) and infrastructure processors combining Nokia’s differentiated wireless technology with Marvell’s industry-leading, multi-core ARM processor platforms,” Nokia said.
Shares in Marvell opened 2.5% higher, while Nokia was 0.5% higher.
Reporting by Tarmo Virki; editing by Barbara Lewis