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In a joint call for urgent action, telecom giants Ericsson and Nokia have appealed to Europe’s industry leaders and policymakers to take decisive steps to secure the continent’s digital future.
The plea was made during the New Industrial Ambition for Europe summit held on January 16, 2025, in Brussels.
The summit, co-hosted by Pekka Lundmark, CEO of Nokia, and Börje Ekholm, CEO of Ericsson, gathered top European political figures, industry leaders, and policymakers to discuss the critical steps needed to drive Europe’s digital transformation. Among the distinguished guests were representatives from the European Commission, Dariusz Standerski, the Deputy Minister of Digital Affairs for Poland, and former Italian Prime Minister Enrico Letta.
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The summit’s focus was on two important reports penned by Letta and Mario Draghi, former president of the European Central Bank, both released in 2024. These reports delved into the state of the European telecom sector, offering key insights and recommending urgent measures to avoid the continent’s digital decline.
Among the key proposals, the reports emphasised the importance of consolidating the industry and implementing policies to foster more growth and innovation.
Lundmark warned that Europe’s digital competitiveness is on the line, stating, “Europe’s competitiveness already has one foot in the mortuary, but there is still time to turn this tanker around.” He stressed that Europe must create an environment conducive to investment, particularly in emerging technologies like artificial intelligence (AI), cloud computing, and advanced connectivity.
Echoing these sentiments, Ekholm highlighted the current investments in research and development (R&D) by Ericsson, noting that the company already invests more in R&D in Europe than in other regions.
However, he cautioned that if the current trajectory continues, Europe risks falling behind in the global race for technological advancement.
Both Ericsson and Nokia have called for a range of urgent measures to secure Europe’s future in technology. Among their recommendations are:
- Strengthened investment in R&D.
- Streamlined and reduced regulation to encourage innovation.
- Reformed competition and mergers & acquisitions guidelines.
- Alignment of environmental goals with digital transformation.
- Clear targets for 5G deployment across the region.
- Enforcing fair business practices to ensure competitiveness.
The summit underscored the critical need for a more supportive regulatory environment to attract investment and fuel digital growth. As European policymakers consider these recommendations, the call to action is clear: Europe must act swiftly and decisively to maintain its position as a leader in global digital innovation.
With intense competition from other regions and rapidly advancing technologies, the time for Europe to make its move is now.
