Cisco CEO Disagrees With Trump's 5G Offensive Plan
Cisco CEO Chuck Robbins voiced his disapproval of the plan to combat China's 5G developments with investments in Ericsson and Nokia, according to Business Insider.
Attorney General William Barr recently suggested that the US invest in large European telecom companies to combat Chinese company Huawei from hogging the market for 5G. Following Mr. Barr's comments, Nokia and Ericsson shares spiked.
The issue was mentioned during Cisco's second-quarter earnings call on Wednesday. One analyst asked Robbins opinion on the matter to which he responded, "I don't think the US government should make investments in these companies."
Robbins defended his statement by citing the growth of 5G in the US. "I actually think the US is in fine shape. I think both from a carrier deployment perspective, I think we're in great shape. And I think we're in a good position with the technology," he said.
Cisco CEO Chuck Robbins voiced his disapproval of the plan to combat China's 5G developments.