Nokia will not be able to survive without its cell phone line.
The Finnish phone maker is preparing to close a factory in Finland to focus on the Lumia 900 and 950 smartphones, but it won’t stop there.
In its first quarterly earnings report, Nokia said that it plans to sell off at least 70% of its global cell phone business by 2020.
Nokia will also be moving its flagship Lumia brand from Finland to Hong Kong, the company said.
The move is the latest step to close Nokia’s once-dominant mobile phone market in Asia.
Nokia was founded in 1991 and was once known as Nokia.
The company’s phones, which include the Lumia, have been sold in the U.S. and other countries since 2005.
It is the world’s largest smartphone maker and a dominant player in the smartphone market.
Nokia has struggled in recent years, but the company has been making more profits since it has announced its plans to close its factories in Finland.
Nokia said in its first-quarter results that it expects the Lumia smartphones to sell between 20 million and 25 million units this year.
Nokia CEO Stephen Elop said in an interview with Reuters that the company will have no plans to expand production of its phones in China and that it will focus on selling the Lumia 950 and Lumia 900 in Europe and Asia.
Elop, who has been in the company’s leadership role for more than a decade, said in the interview that Nokia was “really happy” to have the company move its manufacturing base to Hong Kong.
Nokia also announced that it has signed a strategic agreement with the Hong Kong government, which will allow the company to sell phones to residents in Hong Kong.
Nokia is also moving its phone business to a new headquarters in Singapore.
The U.K.-based company is building a new office and factory in Singapore that will open in 2019.
Nokia says the new plant will produce phones for a variety of consumer products.
Nokia’s first phone in China is expected to launch in 2020, although it won�t have an official name yet.
Nokia and other phone makers are still struggling to build a foothold in China.
It was unclear how long the phone makers planned to stay in China, but they may be forced to move their manufacturing base in China after the closure of the factories.
Elo said in a recent interview with the Financial Times that Nokia would not be changing its strategy.
It remains unclear if Nokia will continue to make phones in Europe.
Nokia expects the next Lumia phone to be released in 2020.