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Nokia to close almost all sites in mainland China by year end, SCMP reports - Finance news and analysis from Global Banking & Finance Review
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Nokia to close almost all sites in mainland China by year end, SCMP reports

Published by Global Banking & Finance Review

Posted on August 18, 2026

1 min read

· Last updated: August 18, 2026

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Nokia to Shut Nearly All Mainland China Sites and Cut Workforce in 2024

Nokia's Strategic Shift in Mainland China

Workforce Reductions and Site Closures

Aug 18 (Reuters) - Finnish telecom equipment maker Nokia plans to cut most of its workforce in mainland China and close sites in stages by year end, the South China Morning Post reported on Tuesday, citing sources familiar with the situation.

Reasons Behind the Decision

Declining Business in China

A Nokia spokesperson said the group has communicated earlier that it has been taking steps to better align its operations in China with its global operations, and that its China business has steadily declined in recent years years.

Operational Adjustments

"Thus, we are adjusting our operational footprint in China to address this reality," the spokesperson said in an email.

Further Details and Reporting

Lack of Immediate Details

Nokia did not immediately give any further detail on the changes.

Reporting Credits

(Reporting by Devika Nair in Bengaluru and Louise Rasmussen in Copenhagen; Editing by Shilpi Majumdar)

Key Takeaways

  • Nokia is winding down most of its mainland China operations and sites by year‑end 2026, reflecting a sustained contraction in its China business according to SCMP and Reuters reports. (sec.gov)
  • In Q4 2025, Nokia completed full acquisition of Nokia Shanghai‑Bell to better integrate and streamline its operations in China with its global structure, targeting approximately €200 million in synergies. (sec.gov)
  • This move aligns with Nokia’s continuation of its €800 million–€1.2 billion cost‑saving program through 2026, which includes significant workforce reductions globally, including nearly 2,000 laid off in Greater China in late 2024. (lemonde.fr)

References

Frequently Asked Questions

Why is Nokia closing sites in mainland China?
Nokia is closing sites in mainland China to better align its operations with global business as its China business has steadily declined in recent years.
How much of Nokia's workforce in China will be cut?
Nokia plans to cut most of its workforce in mainland China, though specific numbers were not disclosed.
When will Nokia complete its site closures in China?
Nokia is expected to close almost all its sites in mainland China in stages by the end of 2024.
Did Nokia provide details on the changes in China?
Nokia did not immediately give further details on the changes apart from confirming the general plan.

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