Market Chatter: Nokia Said to Shut Down China Research Unit; 1,600 Jobs to be Impacted

05:09 AM EDT, 08/14/2026 (MT Newswires) -- Nokia (NOKIA.HE) plans to shut down its radio technology research and development unit in Hangzhou, China, by the end of the year, Helsingin Sanomat reported Thursday. The Finnish newspaper, citing sources familiar with the matter, noted that a total of 1,600 roles will be affected, and that the telecommunications equipment company had already informed employees on Thursday of the closure. Nokia did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)