Looks like Nokia is on the move-a different kind of move-in Asia.
The latest rumour about the Finnish multinational corporation is that it is moving its Asia Pacific headquarters from Singapore to Beijing, China. (Update: Nokia has now confirmed its move to Beijing)
The rumour, which is yet to be confirmed by Nokia staff in Singapore, started doing the rounds on the New Year's Eve.
The phone company, which was once the market leader, is today fighting a tough battle in the Smartphone segment of all developed markets. However, it is still doing great in emerging markets like India and China.
That's why perhaps the move-if true-to shift the Singapore headquarters to Beijing makes sense.
Last November, Nokia Siemens announced 17,000 job cuts worldwide. An IDG report said that besides savings from staff cuts, Nokia Siemens is also targetting areas such as real estate, information technology, product and service procurement costs, overall general and administrative expenses.
Did the inspiration come from there?
According to the rumours, Nokia has over 400 staff at its current Singapore office. All of them have been given an option to relocate to Beijing.
However, the catch is that they will be working on local terms-so the option is not very attractive.
I spoke to a person familiar with the matter but he refused to comment on the situation.
I am awaiting further information from Nokia. I will update you as soon as I get any word.
Happy New Year!
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