FINLAND's Nokia, the world's second-largest telecom company, is reducing its exposure to Chinese suppliers and to non-Chinese companies listed in China due to country risk factors, reports Nikkei Asia.
The company has reduced orders with Foxconn Industrial Internet, a Foxconn subsidiary that is listed on the Shanghai Stock Exchange, in response to Washington's campaign for a 'clean network' that is free from Chinese suppliers and capital, four people with direct knowledge of the matter told Nikkei Asia.
Nokia's move to reduce reliance on foreign institutional investors that are not China-based and has production capacity outside of the country, suggests supply chain restructuring in the overall tech industry.
nokia has played a large role in the economy of Finland, and it is an important employer in the country, working with multiple local partners and subcontractors. Nokia contributed 1.6 per cent to Finland's GDP and accounted for about 16 per cent of the country's exports.
SeaNews Turkey
The company has reduced orders with Foxconn Industrial Internet, a Foxconn subsidiary that is listed on the Shanghai Stock Exchange, in response to Washington's campaign for a 'clean network' that is free from Chinese suppliers and capital, four people with direct knowledge of the matter told Nikkei Asia.
Nokia's move to reduce reliance on foreign institutional investors that are not China-based and has production capacity outside of the country, suggests supply chain restructuring in the overall tech industry.
nokia has played a large role in the economy of Finland, and it is an important employer in the country, working with multiple local partners and subcontractors. Nokia contributed 1.6 per cent to Finland's GDP and accounted for about 16 per cent of the country's exports.
SeaNews Turkey