Ericsson, Nokia Join Northern European Defense Group

MT Newswires Live08-26 19:04

Ericsson (ERIC), Nokia (NOK), Kongsberg, Patria, and Saab have joined the defense track within Nordic Compass, an industry roundtable meant to address defense needs in the north of Europe, Nordic Compass said Wednesday.

The initiative comes amid increased defense budgets that present a "significant opportunity" in the sector, the organization said.

"Defence is increasingly based on digital technologies alongside traditional military capabilities," said Mikko Hautala, chief geopolitical and government relations officer and chairman of Nokia's defense division.

The Nordic countries account for around 10% of NATO defense expenditures in Europe, the organization said.

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