On August 18, Nokia Oyj fell 4.73% in regular trading, trading at $10.42/share, with turnover of $145 million. The decline was triggered by reports that the company will shut down nearly all of its office locations in China before year-end, a move far exceeding previous market expectations.

According to reports, Nokia Oyj's China revenue has already fallen from a peak of EUR 2.2 billion to EUR 913 million. More significantly, the company raised its full-year restructuring cost guidance from EUR 250 million to EUR 800 million, with EUR 350 million earmarked specifically for China business restructuring. While the market had previously interpreted the closure of the Hangzhou RF R&D center and the 1,600-person layoff as a positive cost-optimization signal — sending the stock up 3.02% just one day earlier — the expanded scope of closures across Beijing, Chengdu, Qingdao, Shanghai, and other sites raised concerns over near-term restructuring cost pressure and the scale of business contraction exceeding expectations.

The broader Communication Equipment sector also faced headwinds, with Applied Optoelectronics down 6.32%, Ciena down 5.69%, Lumentum down 4.53%, Arista Networks down 2.86%, and Cisco down 0.42%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)