Nokia to cut 4000 jobs as smartphones manufacturing moves to Asia

   Feb 9, 10:48 am

London, Feb 9 (ANI): One of the world's largest mobile phone makers, Nokia, is planning to cut 4000 factory jobs in Europe as it shifts the assembly of smartphones to Asia.

The company said in a statement that jobs would be lost at plants in Finland, Mexico and Hungary this year as part of a reorganisation of its smartphone manufacturing operations.

The company, however, said that the factories would not close, The Telegraph reports.

"Shifting device assembly to Asia is targeted at improving our time to market," the paper quoted Niklas Savander, Nokia executive vice president for Markets, as saying.

"By working more closely with our suppliers, we believe that we will be able to introduce innovations into the market more quickly and ultimately be more competitive," Savander added.

The Finland-based mobile manufacturer is struggling to regain its former position as the world's biggest mobile manufacturer after losing ground to Apple's iPhones and smartphones running on Google's Android operating system.

In January, Nokia reported widening fourth-quarter net losses of 1.07billion Euros, against a 745 million Euros profit in same period of 2010, as its new Windows-based smartphones failed to offset the decline in sales of its traditional handsets, and revenues slumped by 21percent. (ANI)

Alibaba shares close 38 percent above initial asking price on NYSE Sep 20, 12:28 am
London, Sep 20 (ANI): Chinese Internet giant Alibaba's shares closed significantly above their initial price on the New York Stock Exchange (NYSE) on Friday, ending 38 percent above their initial asking price.
Full Story
Ananth Kumar wants Assam Gas Cracker project operational by June Sep 20, 12:00 am
New Delhi, Sept. 20 (ANI): Taking a serious note of the delay in the completion of the Assam Gas Cracker project, Union Minister for Chemicals and Fertilizers Ananth Kumar has directed the project's mechanical completion by November, 2014 and commissioning by June, 2015.
Full Story
PM Modi nominates Adil Zainulbhai as QCI chairman Sep 19, 8:54 am
New Delhi, Sept. 19 (ANI): Prime Minister Narendra Modi has nominated Adil Zainulbhai as the chairman of Quality Council of India (QCI).
Full Story
Fujifilm launches environmental friendly printer's ink Sep 19, 6:32 am
New Delhi, Sept. 19 (ANI): Japanese company Fujifilm on Thursday launched a special ultraviolet (UV) ink, which is said to be healthy for the human body as compared to the regular solvent ink. The firm also launched a printer made especially for the ink.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY