March 4, 2020 / 3:30 PM / a month ago

Finland's Nokia enters 5G partnership with Marvell Technology

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

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