Economy, Sci & Tech

NEC to Reenter Iran's Telecom Sector

NEC to Reenter Iran's Telecom SectorNEC to Reenter Iran's Telecom Sector

Japan's Nippon Electric Company, one of the largest electrical firms in the East Asian country, has said it will enter the country's telecoms sector, according to a new report out this week.

Japan's Foreign Minister Fumio Kishida made the announcement about his country's leading electronic company in a meeting with his Iranian counterpart, Mohammad Javad Zarif, this week, ICTNA reported.

Kishida mentioned that Japanese companies are looking to reenter the Iranian market with force, after being absent for over a decade.

In recent months, other large telecommunication firms, including Nokia, Siemens and Ericsson, have also signaled their interest in reentering the Iranian market.

NEC also faces increased competition in this sector from newer entrants like Huawei Electronics, which has signed dozens of contracts with local operators.  

The multinational company is active in the fields of information technology, telecoms infrastructure and consumer electronics like cellphones. However, it has moved away from this sector in recent times, as margins shrink due to increased competition from low-cost Chinese handset producers.