Nokia to Close Half Its China Facilities
Nokia is preparing to shutter two regional offices in China and layoff the staff there amidst a reorganization of its business units. Nokia will close its Chengdu and Shanghai sales offices, reports the Wall Street Journal, but will offset the closures and layoffs with additional investments in its Beijing and Guangzhou offices. Nokia confirmed to the Journal that the closures are part of a broad restructuring the company announced last month, though it wouldn't specify the number of jobs affected at the two closed China offices. Nokia's share of the Chinese cell phone market dropped from 30% in the second quarter of 2011 to 11% in the first quarter of 2012.
Made in China
Refreshing to hear that some things are leaving the Red Dragon. With the U.S. Olympic uniforms made there, and everything from medicine to electronics to clothing etc., manufactured there it won't hurt them a bit.