In a major restructuring move that spans different provinces, Nokia has completed integration of its four joint ventures in China - Beijing Capitel, Dongguan Nan Xin Industrial Development, Shanghai Alliance Investment, and Bejing Hangxing Machinery Manufacturing, into a new group. The operation, expected to kick off in January 2005, is aimed at streamlining management structure and reducing per -sonnel and production costs in China.

 

The new company, located in Beijing Economic-Technological Development Area, will cover a full range of Nokia's mobile phones and network equipment. The integration is expected to help Nokia prevent its Chinese joint ventures from competing with each other and then further strengthen its competitiveness against increasingly dominant Chinese makers.

 

Nokia will continue to hold the majority interest in the new company, whose name has yet to be revealed.