The transition toward becoming a maintenance and service company is progressing. There are fewer and fewer markets for the new equipment business while the Chinese economy is stalled, and India and others are unable to compensate for it. Is Kone gradually becoming a globally operating Lassila-Tikanoja? Let’s hope that the margin levels in the service business remain stable. Significant local competitors will eventually emerge there as well, even in China—this has happened in other industries too.
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