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)

Indian toy industry to get a boost at 'Kids India', largest B2B exhibition Jun 25, 11:26 am
New Delhi, June 25 (ANI-NewsVoir): With Indian Government's initiative to support the International buyers at 'Kids India', India's largest international B2B exhibition for toys and products related to children, Indian Toy industry is all set to get a boost at the Expo.
Full Story »
Essar Energy sells 50 pct stake in KPRL to Kenyan Government Jun 25, 11:10 am
New Delhi, June 25 (ANI-NewsVoir): Low-cost, integrated energy company Essar Energy Overseas Limited (Essar Energy) announced its stake sell worth 50 percent in Kenya Petroleum Refineries Ltd (KPRL) to the Government of Kenya (GoK).
Full Story »
India's largest Phos Acid importer signs deal worth USD 600 per mt Jun 25, 10:53 am
New Delhi, June 25 (ANI-NewsVoir): Amongst a grim market saga being acted out in the global Phosphoric Acid trade market. IFFCO, which is India's biggest fertilizer player and the largest Phosphoric Acid importer announced its agreement to import Phosphoric Acid at a price of USD 600 per metric tonne CFR with 30 days credit for Q2 and Q3 of 2016.
Full Story »
Adda52.com steps forward with ticket to World Poker Tour Rozvadoz Jun 24, 4:31 pm
Kolkata (West Bengal), June.24 (ANI-Businesswire India): Adda52.com, India's largest poker site, is stepping forward with "Your Ticket to World Poker TourĀ®" - Rozvadoz edition after the grand success of WPTĀ® - UK and Aria Edition. Adda52.com is providing yet another opportunity to Indian poker players to fulfill their dream of playing a World Poker Tour event.
Full Story »
Comments