Nokia to move regional HQ to Beijing

Nokia, the largest mobile phone manufacturer in the world, is to move its Asia-Pacific headquarters from Singapore to Beijing as part of plans to improve business efficiency and save resources.

"The move is part of our strategy to adapt our operations to the business environment to ensure our competitiveness. This includes an increasing focus on assembly in Asia, close to our suppliers," a spokesman from the company told the media yesterday.

Nokia didn't disclose whether there would be any layoffs or how many employees would be affected. Its Singapore office will remain open.