Speaking in an interview on Thursday, Hotard said large technology companies cannot sustainably rely on a single continent for growth, scale, or competitiveness, particularly in fast-moving sectors such as telecommunications. According to him, success in technology is often dictated by short innovation cycles and rapid market access, making broad geographic reach essential.
Hotard noted that companies operating at global scale in Europe and the United States are structurally dependent on both markets. He argued that an objective analysis of revenue flows, customer bases, and supply chains shows a high degree of codependence between the two regions, rather than a one-sided reliance.
Nokia, alongside its Swedish rival Ericsson, has in recent years positioned itself as a secure Western supplier of telecoms network equipment, particularly as governments in Europe and North America reassess their exposure to Chinese vendors. These efforts have gained renewed relevance as national security concerns continue to reshape procurement policies in critical infrastructure, including 5G networks.
At the same time, the European Union is stepping up efforts to strengthen homegrown technological capacity and reduce reliance on external suppliers, including those from the United States. This dual push presents a delicate balancing act for companies such as Nokia and Ericsson, which derive significant portions of their revenues from both sides of the Atlantic.
The structural dependence cuts both ways. While Europe has its own major telecoms equipment manufacturers, the United States lacks a large domestic supplier of core network gear. As a result, American telecom operators rely heavily on Nokia, Ericsson, and South Korea’s Samsung, particularly after Chinese vendors were effectively excluded from the U.S. market on national security grounds.
Recent policy developments in Brussels could further reshape the competitive landscape. Earlier this month, the European Commission proposed phasing out so-called high-risk vendors from critical sectors, including 5G infrastructure. Although the proposal does not name specific companies, it is widely seen as a move that could further limit Huawei’s presence in European telecom networks.
Industry observers say a broader removal of Chinese equipment across Europe could open new commercial opportunities for Nokia and Ericsson, especially after several years of subdued investment in 5G rollout across the region. However, Hotard warned that policy intent must be matched by decisive implementation.
He welcomed the direction of recent EU initiatives but urged European policymakers to move faster and convert existing recommendations into binding requirements for network operators. In his view, delayed or uneven enforcement risks undermining Europe’s strategic objectives and weakening its industrial champions.
“Europe needs to support its business champions,” Hotard said, adding that this principle should apply not only to technology but across key sectors of the economy. He stressed that stronger, clearer policy support would help European firms compete globally while still maintaining healthy transatlantic ties.
As governments on both sides of the Atlantic navigate security concerns, industrial policy, and market access, Hotard’s remarks highlight a central tension: building technological sovereignty without fracturing the interconnected markets that global technology leaders depend on for scale and innovation.