Business1 hour ago
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Nokia Shuts China R&D Hub, Questions Huawei's 5G Dominance
Nokia is closing its Hangzhou R&D center, impacting 1,600 jobs. This decision follows a 58% revenue drop in Greater China since 2018 and raises questions about Huawei's dominance in Germany's 5G market. CEO Justin Hotard challenges Europe on Huawei's 60% share while Nokia struggles with only 3% in China. Despite this, AI and cloud orders have surged by 105%, indicating a shift in focus for the company.
⚖️ AI Verdict
"Nokia's restructuring raises eyebrows and questions about market dynamics."
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File ID: #403968Original Source: Times Of India ↗
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