Nokia to close China factories by 2026
Finnish telecommunications equipment manufacturer Nokia plans to close almost all of its factories on the mainland of China by the end of the year, according to South China Morning Post (SCMP), citing informed sources.
Consensus
- Nokia plans to close almost all manufacturing facilities in mainland China by the end of 1926.
- The closure is linked to Nokia's declining position against Chinese technology developers.
- Nokia will conduct mass layoffs of employees in China.
- At the end of 2025, Nokia had approximately 7,200 employees in mainland China, Hong Kong, and Taiwan.
- Nokia's business in China has experienced a decline in recent years.
- China has restricted the use of Nokia and Ericsson equipment in its telecom networks due to national security concerns.
- Chinese state-owned telecom operators must submit contracts with Nokia and Ericsson to the Cybersecurity Administration for review, which can take three months or longer.
Points of divergence
- Nokia plans to close nearly all factories by the end of 2026. — kommersant
- Nokia plans to close almost all factories in mainland China by the end of the year. — interfax
- Nokia's stock fell 6.4% on Tuesday, with a year-to-date capitalization increase of over 60% to €53.58 billion. — interfax
Coverage (2 sources)
- SCMP: Nokia will close production in China by the end of 2026 — Коммерсантъ
- SCMP reported on Nokia's plans to close almost all factories in China by end of year — Интерфакс