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Nokia Announces First Steps to Withdraw from the Television Business
April 01, 1996
Following its decision to withdraw from the television business, Nokia has carried out extensive negotiations with potential business partners. No final solution has been reached so far, but in all of the remaining alternatives manufacturing operations in Germany had to be excluded. Therefore, negotiations in order to close the Nokia television factory in Bochum and the components factory in Ziemetshausen, Germany have been started today.
Further to closing television manufacturing in Germany, the concepts now under negotiations also include the provision that televisions under all Nokia brand names continue to be available. Therefore, television manufacturing will continue in Turku, Finland, and the additional products needed will be provided by the potential partner. Arrangements are expected to be finalized in a couple of months.
The above mentioned measures have no impact on other Nokia businesses.
Nokia today employs approximately 1200 people in the television business in Germany and approximately 900 in Finland.
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