mwc2019：5g已来.docx

文档介绍：FOCUSEquityResearch21February2019alnrtenI-detcitrsReTechnologyMWC19:5GhasarrivedAfteryearsoftalk,thisyear’-termdeployments,standardsettingandchipsetavailability/,andwasparticularlynoticeableatlastyear’sMobileWorldCongress,butthisyearweexpectabalancebetweenthelong-termtechnology-drivenexcitementandthenear-termteethingdifficultiesoftenpresentintheearlystageofanew‘G’.Nokiahasalreadysetthestageforslightlyslowergrowthin1H19,duetothecontinuedecosystemdevelopmentand,inparticular,,weanticipatepositive5G-drivenmomentumforbothNokia(OW)andEricsson(EW),,althoughstandards/chipsstillslightlyinflux:5GNewRadio(NR)elerated,beingfinalizedinlate2017,butspecificationsfor5Gcore,,.,?Wehaveheard5Gpitchesaroundconnectedautonomouscars,remotesurgeryandautomateddarkfactoriesandwhiletheseareinterestingapplications,weexpectgreaterfocusonenhancedmobilebroadband(eMBB)-andmid-–EarlyGainersandFutureTrends:5Gwasacleartailwindformanyofournames(XLNX,ADI,NXPI,QRVO,etc)(DU,RRH,etc),ingsfromanarchitecturalperspective(massiveMIMO,CRAN,etc),andwhatseminamesstandtobenefit(orlose).WeplantodivedeeperinfuturereportsbutrefertoFigures11-16foranover