Huawei ban could cost Europe €40bn and drive network equipment prices up 43%

European telecom operators could face a bill of up to €40 billion to strip Chinese-made equipment from their networks, while two Nordic companies would end up controlling almost the entire market, a new industry report has found.

A new industry report says Europe’s telecom operators are at the risk of losing up to €40 billion for removing Chinese made equipment from their networks. The market will be handed over to Nordic companies having a monopoly over the entire industry.

The new estimates, released Wednesday, are more than three times what Brussels had expected to roughly be €10 billion to €13 billion in total. The report itself was commissioned by seven major European operator groups including Deutsche Telekom, Vodafone and Orange. It was prepared by GSMA Intelligence, the research arm of the global telecoms industry body GSMA.

The report follows European Commission move of making changes to its Cybersecurity Act. The changes would legally require the member states to strip all the equipment from the countries deemed high risk. China’s Huawei and ZTE are the main targets as reported by Cryptopolitan previously.

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