"While the European Union is considering providing more support for its own technology, Hotard emphasizes that access to both continents is crucial. "Every single one of us cannot subsist on one continent or the other. We need both," Hotard tells Reuters. He explains that this is especially true for the tech sector. Because it is cyclical in nature, the large markets of both Europe and North America are needed."
"The Nokia CEO clearly does not see this happening just like that. "Every single one in Europe and the U.S. that is of scale is dependent on the European and U.S. market for scale," says Hotard. "If you just do the analysis, there's a significant codependence." Furthermore, the United States does not have a major supplier of telecom equipment of its own. After banning Chinese companies for security reasons, American providers are dependent on Nokia, Ericsson, and South Korea's Samsung."
Europe and the United States are mutually dependent for large technology companies due to the cyclical nature of the tech sector and the need for scale across both markets. The EU plans to phase out "high-risk" technology and increase digital autonomy, reducing reliance on Chinese suppliers like Huawei. The United States lacks a major domestic telecom-equipment supplier and depends on Nokia, Ericsson, and Samsung after banning Chinese vendors. Reduced competition from Asia may create opportunities for European suppliers but could shift trade tensions toward software. Rapid and targeted support for domestic business champions is needed to preserve competitiveness and scale.
Read at Techzine Global
Unable to calculate read time
Collection
[
|
...
]