Nokia Solutions and Networks

Type
Business expansion
Country
Hungary
Region
Közép-Magyarország; Budapest; Budapest
Location of affected unit(s)
Sector
Professional Services
72 - Scientific research and development
72.1 - Research and experimental development on natural sciences and engineering
72.10 - Research and experimental development on natural sciences and engineering
150 jobs
Number of planned job creations
Job creation
Announcement Date
31 May 2022
Employment effect (start)
1 September 2022
Foreseen end date

Description

Finnish telecommunications and IT firm Nokia expands its 5G development capacity at its Budapest research and development centre. As a result, 150 high-quality jobs will be created.

The expanded research program costs €6.8 million, €1.7 of which will be covered by non-refundable state subsidy. The expansion helps widen the range of services offered by 5G mobile networks and simplify the installation and operation of the networks.

Nokia's research and development center in Budapest already employs more than 2,000 people.

Sources

  • 31 May 2022: Hungarian Investment Promotion Agency (hipa.hu)
  • 31 May 2022: Napi (www.napi.hu)

Citation

Eurofound (2022), Nokia Solutions and Networks, Business expansion in Hungary, factsheet number 106915, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106915.