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.
Nokia's Comeback Gets Its Start In China
HMD Global this week announced the Nokia 6, the first smartphone to fall under the company's plan to resurrect the Nokia brand. HMD Global is a Finland-based business with the sole license to design smartphones using the Nokia brand.
Verizon to Shutter Some Offices, Eliminate Jobs
Verizon has informed employees that it plans to reduce the number of regional offices around the country and correspondingly reduce headcount. The company has 20 regional locations, which it plans to pare down to just six.
Nokia Forges China Joint Venture to Win Alca-Lu Approval
Nokia has signed a memorandum of understanding with a China government-backed investment company called Huaxin in order to encourage approval of its proposed acquisition of Alcatel-Lucent. The acquisition has already been approved by U.S.
Microsoft to Close Nokia Finnish Phone Production Site
Microsoft today confirmed it plans to fully close a facility in Salo, Finland, that was formerly used to create and produce mobile phones. Microsoft will leave the Nokia facilities in Espoo and Tampere open, but plans to cut about 2,300 jobs in Finland in total.
China Approves Nokia's Alcatel-Lucent Acquisition
Nokia's attempt to acquire Alcatel-Lucent has cleared another hurdle now that it has won approval from China's Ministry of Commerce. The anti-monopoly body will allow the proposal to move forward under certain conditions, which mostly pertain to licensing standard essential patents.
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.