Market Chatter: Nokia to Close Chinese R&D Unit; Cuts 1,600 Jobs

MT Newswires Live08-14

Nokia (NOK) is shutting down its research and development unit in China's Hangzhou, cutting 1,600 jobs, Finnish newspaper Helsingin Sanomat reported Thursday, citing unnamed people familiar with the matter.

The company informed staff that the unit, which develops radio technology, will close by the end of 2026, according to a Google translation of the report.

Nokia did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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