π Nokia shuts down China R&D hub, cuts jobs
Nokia is winding down its radio technology R&D center in Hangzhou by the end of 2026, affecting approximately 1,600 jobs. This move is happening in Hangzhou, China, as part of a decade-long unravelling of its China strategy. Greater China sales plummeted by over 58%, dropping from β¬2.2 billion in 2018 to β¬913 million in 2025. This shutdown echoes CEO Justin Hotard's past concerns about vendor risk in Europe. Nokia is now pivoting towards booming AI and cloud orders for future growth. π₯