Nokia's (NOK) Chennai, India plant has been raided by Indian tax officials, reportedly over...


Nokia's (NOK) Chennai, India plant has been raided by Indian tax officials, reportedly over allegations the company has avoided paying 30B rupees ($543M) in taxes. The raid comes as the Indian government mulls rules that would require a large % of tech hardware sold in the country be locally manufactured, potentially threatening the local sales of everyone from Nokia to Dell to IBM. Cisco's John Chambers and other tech execs have lamented the challenges of doing business in India.

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Comments (10)
  • turtledividend
    , contributor
    Comments (272) | Send Message
     
    A challenging obstacle right before Nokia's India Launch. Sounds a bit of a conspiracy to me. Thank goodness for the Chinese market to spray water on this flickering flame.
    8 Jan 2013, 10:47 AM Reply Like
  • izzy4real
    , contributor
    Comments (14) | Send Message
     
    Conspiracy? Try ... standard operating procedure for the Indian government. Maybe in another 3 or 4 generations this might be a worthwhile place to invest.
    8 Jan 2013, 11:03 AM Reply Like
  • Eightball
    , contributor
    Comments (204) | Send Message
     
    I'm sure it will all work out.
    8 Jan 2013, 11:05 AM Reply Like
  • DataDoily
    , contributor
    Comments (26) | Send Message
     
    If the tax raid is as efficient as the police force in India, then not to worry at all. Just a bit of money into the right pockets and some wholesome fraternisation with the right people. Of course, it is an enormous challenge to do business there if you are not an Indian & part of the system!
    Concerning these new rules: I doubt that they will want to return to the Hindu rate of growth. Not under Manmohan Singh.
    8 Jan 2013, 12:19 PM Reply Like
  • Tradeitonline
    , contributor
    Comments (2) | Send Message
     
    Ok India ... possibility to move production plants to China or Taiwan is always an option ..
    Backstab BIG companies, wait for economical consequences. Nowadays you can improve the cooperation and development of economy by assuring your partners in stability! That would be the involvement from someone who is emerging in terms of economy!
    8 Jan 2013, 12:23 PM Reply Like
  • silicium
    , contributor
    Comments (51) | Send Message
     
    This information may bring nok back to 3.9. Wait to see
    8 Jan 2013, 12:23 PM Reply Like
  • kthor
    , contributor
    Comments (251) | Send Message
     
    Apple paid the Indian Government to raid NOK ? lol
    it's the perfect corrupt country to do it!
    8 Jan 2013, 02:13 PM Reply Like
  • Hans Thoma
    , contributor
    Comments (394) | Send Message
     
    No, more like Goldman Sachs paid India to do the raid right before Nokia's positive quarterly advice today. LMAO.
    10 Jan 2013, 10:30 AM Reply Like
  • gethigh
    , contributor
    Comments (42) | Send Message
     
    @kthor ^made me laugh
    8 Jan 2013, 10:44 PM Reply Like
  • silicium
    , contributor
    Comments (51) | Send Message
     
    why can't we find the new about the pattern suit against nokia by TPK? Anyone got an idea ?
    9 Jan 2013, 03:11 PM Reply Like
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