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)

Court approves Apple's 450 million ebook case settlement Nov 23, 11:59 am
Washington, Nov 23 (ANI): A federal judge has approved Apple's 450 million ebook case settlement in a class action lawsuit over claims that the company conspired with publishers and raised the ebook prices.
Full Story
Rahul Gandhi doesn't understand meaning of investment and industry: BJP Nov 23, 11:23 am
New Delhi, Nov.23 (ANI): Reacting to Congress vice-president Rahul Gandhi's allegation of the NDA Government being pro-industrialist, the Bharatiya Janata Party (BJP) on Sunday said that the former does not understand the meaning of investment and industry.
Full Story
Yahoo acquires photo app-maker company Cooliris Nov 22, 4:56 pm
Washington, Nov 22 (ANI): Yahoo has acquired a startup photo app-maker company Cooliris that was initially known for creating 3D wall for navigating photos and other media content.
Full Story
Singapore retains EIU ranking as No. 1 business destination Nov 20, 4:39 pm
London, Nov 20 (ANI): Singapore has once again managed to retain its EIU ranking as the world's best place to do business.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY