Nokia Oyj (ADR)(NYSE:NOK) has signed a commitment to become part of the Smart Tampere initiative, which is working towards improving the lives of citizens in Tampere, Finland. The initiative is seeking to introduce smart city services in various, which will in return foster economic development. Some of the mentionable areas include e-health, smart energy and mobility, data management, and smart lighting among others.
Tampere is more or less Nokia’s birthplace since this is where it started out. This is perhaps the reason why it has been triggered to be part of this program. The collaboration will see Nokia bring its expertise to government agencies, NGO’s as well as to local companies.
Smart Tampere will create opportunities to explore technology solutions
The world is quickly adopting the use of digital technologies in a majority of operations. Thus the Smart Tampere initiative is timely in that it offers opportunities for the exploration of various technology solutions. The city-wide economic policy is determined to improve the lives of citizens by creating a conducive living hub. It is also taking up the responsibility of making the city more attractive to businesses and visitors.
The plan is to have a “smarter city” by 2030
The initiative is geared towards a 2030 vision of turning Tampere into a ‘smart city.’ Thus working together is essential according to Finland country head, Nokia, Tommi Uitto who says, “The learnings we are able to glean from this collaboration will benefit Tampere’s citizens, companies, and visitors, and can also be carried forward into similar collaborations with other cities around the world.”
Nokia has a strong history of innovation given that it is one of the leading technology innovators in the world, despite recent troubles. It has made a good name in the development of solutions for smart, sustainable cities. Its control of areas such as 5G and the Internet of Things (IoT) is also on record thus it can only be referred to as a natural fit for a modern economy in Tampere.
In the meantime, Nokia’s stock was trading at $6.18 witnessing an increase of $0.05 or 0.82%.
