Nokia to cut 1,800 staff

Tags

Nokia to cut 1,800 staff

Michael Carroll  |   October 22, 2010
telecomasia.net
Nokia’s new boss Stephen Elop says the firm must take a fresh approach to the mobile market, despite returning to profit in the third quarter.
 
The firm generated net profit of €529 million ($735.9m) in 3Q10 on sales of €10.2 billion - overturning a €559 million loss in the same period last year - but lost ground in the handset market, where its market share slipped to 30% and the firm revised its full-year shipments down.
 
Elop said recent results showed the firm must “reassess our role in and our approach to this industry.”
 
He pledged to make “strategic and operational improvements,” to steer the company through a “remarkably disruptive” period in the mobile business.
 
The firm will aim to speed up software development, beef up its web services, and slim down its workforce by 1,800 – roughly 3% of its total staff - the New York Times reported.
 
Shortages of components for the firm’s low- and mid-tier handsets hit device shipments, which grew 2% to 110.4 million units. However, smartphone sales rose 61% year-on-year to 26.5 million – enough to give it a 38% share of the global market, according to Nokia’s estimates.
 
12
Egypt has become the first country to find out the hard way what happens when you shut down the Internet

Frontpage Content by Category

As 2011 dawns, industry experts predict what might happen in the year ahead

Frontpage Content by Category

Nicole McCormick/Ovum
New regulator NBTC has government, not industry, interests at heart

businessweek_industryview

Adam Satariano and Peter Burrows
Deal delayed by lengthy trials, technical negotiations
Mark Sten, Globys
Carriers need to shift from blasting large segments to delivering highly personalized communications

Frontpage Content by Category with Image

Sponsored by SAP
The activity-based costing methodology enables telcos to acquire a deeper understanding of costs and profitability. Find out more in this webinar.

lighter_side_telecom_career

Staff writer
Experts disagree on whether the phenomenon exists
Staff writer
Paul Fegan named group MD of Strategy & Corporate Services