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Nokia Shares Drop After Reported Shutdown Plans in Mainland China

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Sig3.03Sen-1.63Env0.00Soc-1.65Gov-0.28

Nokia ADR shares fell about 4% premarket after a report said the company plans to close nearly all mainland China locations by year-end. The restructuring would cut the workforce and shut sites in stages, shrinking what was previously Nokia’s largest national market. Investors reacted to the potential operational and competitive impact as China’s domestic rivals expand.

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