Nokia Closes China Sites, Stock Falls 4%

Announcement

Nokia Corp ADR (NYSE:NOK) shares fell approximately 4% in pre‑market trading on Tuesday, 18 August 2026, after the South China Morning Post reported that the company plans to close almost all of its sites in mainland China by the end of the year.

Operational Plan

The Finnish telecommunications‑equipment maker intends to shut the Chinese sites in stages and to reduce most of its mainland China workforce, representing a systematic retreat from a market that has historically been Nokia’s largest single‑country market worldwide.

Context

Nokia has maintained a presence in China for more than four decades, but the decision follows mounting competitive pressure from domestic Chinese telecom‑equipment providers.

Market Reaction

The pre‑market price decline of about 4% reflects investor concern over the scale of the withdrawal and its potential impact on Nokia’s revenue exposure in China.

Source Note

The article was generated with AI assistance and reviewed by editor Luke Juricic; © Reuters.