Nokia closes China research hub; recalls CEO’s Huawei warning to Europe
Nokia announced the closure of its Hangzhou radio R&D centre in China by the end of 2026, resulting in approximately 1,600 job cuts. This decision follows a 58% decline in Greater China revenue since 2018 and raises questions about Huawei's dominance in Germany's 5G market. The company faces restructuring charges of €800 million despite a 105% increase in AI and cloud orders.