Nokia Shanghai Bell eyes IoT opportunities

Nokia Shanghai Bell, a joint venture between leading telecom company Nokia Corp and a State-owned investment firm, said on Thursday that it will step up efforts to cash in on internet of things opportunities in sectors outside of its core telecom business in China.

The company said it will ramp up resources to explore opportunities in energy, transportation, public utilities, radio and television and other sectors that internet of things technology will revolutionize.

In May, Nokia signed agreements with State-owned investment company China Huaxin Post & Telecommunication Economy Development Center to create a joint venture. The joint venture, branded as Nokia Shanghai Bell, is designed to integrate Alcatel-Lucent Shanghai Bell and Nokia's China operations.