Intel
DRAM Return Rate$Nokia Oyj(NOK.US) has been researching optical modules/InP for a while, and someone just mentioned the impact of the domestic price war. NOK still has many technological barriers and advantages:
• Completely different tracks: NOK focuses on long-haul coherent (high margin, capacity shortage); domestic manufacturers focus on short-haul DR8 (low margin, overcapacity), basically no direct competition.
• Price war is beneficial for NOK: washes out low-end competitors, strengthens high-end coherent barriers; Chinese leaders in 800G are suffering, but 1.6T is still okay.
• Domestic manufacturers cannot enter NOK's territory in the short term: coherent requires InP PIC + self-developed DSP + algorithms + system synergy, at least a 2–3 year catch-up period.
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