Jan 22, 2024 06:56 PM

BUSINESS

Huawei Plans Nokia JV Buyout With Local Consortium

By Wang Xintong and Zhang Erchi

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What’s new: Huawei Technologies Co. Ltd. plans to team up with several local firms to wholly acquire its venture with Nokia Oyj, a buyout that would see the Finnish handset-maker finally exit the company after a previous attempt to sell its stake failed due to strong opposition from its Chinese partner.

Nokia owns 51% of the wireless communications joint venture (JV), Beijing-based TD Tech, and Huawei owns the rest.

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