Finland’s Nokia Corporation is moving its Asia-Pacific headquarters from Singapore to Beijing as part of plans to raise business efficiencies and meet savings targets.
A Nokia spokesperson said in an emailed response to queries from Dow Jones Newswires that the move is part of their strategy to adapt their operations to the business environment to ensure competitiveness. This includes an increasing focus on assembly in Asia, close to Nokia’s suppliers.
Nokia is currently implementing the move, which forms part of plans, to realign its business and cut costs. But there had been no specifications as to how many employees would be affected by the move, what types of positions are being shifted, or if any jobs would be cut.
The spokesperson also added the operations at its Singapore office will go on as usual.
Nokia, which has seen its market share plummet in recent years on rising competition from Apple Inc.’s (AAPL) iPhone and Google Inc.’s (GOOG) Android operating platform, last year announced restructuring plans that involved cutting more than 10, 000 jobs in manufacturing, and research and development.