Nokia to shed 700 jobs, half in Finnish home
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Nokia, the world's leading maker of mobile phones, has said it would shed some 700 jobs, with Finland taking the brunt of the cuts.
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After a high-level meeting today, Nokia has agreed to serve on a joint task force to review its decision to close a cell phone plant in Bochum, Germany. Meanwhile, Nokia's cheaper facility under construction in Romania is in trouble.
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Finland's Nokia, the top global mobile phone manufacturer, said Tuesday that it planned to close a factory in Germany by mid-year which employs 2,300 workers.
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Finnish company Perlos, which makes mobile phone casings for Nokia, said on Monday it would end production with the loss of 1,132 jobs, as part of a bid to return to profitability.
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Nokia (NOK1V.HE), the world's largest  cell phone maker, expects replacement sales of cell phones to  continue gaining share of the total market in 2007, it said in  its filing with U.S. officials on Monday.
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The Finnish government announced Wednesday it will reduce its stake in TeliaSonera, the Nordic region's largest telecommunications operator, by at least 5.3 percent with the sale of some 250 million shares, ...
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Nokia has bowed out of the ringtone market following poor sales from its Club Nokia website. Its exit should also smooth relationships with mobile network operators which think that their hardware providers
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The Finnish government announced Wednesday it will reduce its stake in TeliaSonera, the Nordic region's largest telecommunications operator, by at least 5.3 percent with the sale of some 250 million shares, valued at about 1.15 billion euros (&#36;1.5 billion).
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Stockholm - Nokia, the world&#39;s biggest cellphone maker, took market share in the second quarter by cutting prices and introducing new models, rebounding from its lowest level since 1999, market researcher Gartner said yesterday.
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Nokia , the world's top cellphone maker, said on Tuesday it plans to close its plant in Bochum, Germany, by mid-2008 and may cut up to 2,300 staff as it moves production to lower-cost regions.
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Sprint Corp. , said on Friday it plans to reduce by up to 700 jobs in its business solutions unit as it realigns its business to focus on wireless and Internet-based telecommunications offerings.
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Sprint Corp., the telecommunications giant, said yesterday it will cut 700 jobs in its business solutions division as it stops selling business long distance services outside of package deals.
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There is a strong trend for consumers to move away from using fixed-line phones in concert with mobiles to use mobile handsets for all or most of their voice calls, according to a study conducted for Finnish mobile handset maker Nokia by UK market
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HELSINKI, Finland -- Nokia Corp. on Tuesday cut its operating margin targets, blaming increased exposure to the network infrastructure business. It also predicted global sales of mobile phones would grow by 10 percent in 2007.
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Mobile phone maker Nokia will lay off 2,300 employees at a German plant and move production to lower-cost European sites, the company announced Tuesday.Nokia plans to close the plant in Bochum, Germany, by midyear. Nokia also plans to close an automotive business there and is negotiating with Sasken Technologies to sell a Bochum-based software research and development entity, the company said in a news release.The Bochum site was not &quot;globally competitive,&quot; Nokia said. Additional investments would not make the site competitive, the company said.Nokia, based in Finland, announced last March that it was opening a manufacturing plant in Romania. The company also has a plant in Hungary.Market changes and &quot;increasing requirements for cost-effectiveness&quot; mean that &quot;production of mobile devices in Germany is no longer feasible for Nokia,&quot; Veli Sundb&#228;ck, executive vice president of Nokia, said in a statement. &quot;It cannot be operated in a way that meets the requirements for global cost efficiency and for flexible capacity growth. Therefore we have to make this tough decision.&quot;Nokia will negotiate with employee representatives to &quot;reach a satisfactory solution&quot; for everyone involved, the company said.
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(InfoWorld) - Nokia plans to fold all its mobile phone development efforts into a single new business unit, reflecting the growing importanceÂ of its business of multimedia and Internet-enabled devices. The new Device unit, as it will be called, will produce all of Nokia's mobile devices, including more traditional mobile phones, as well as Internet-enabled devices like the N series. The products were previously produced by three separate divisions, for mobile phones, multimedia, and enterprise solutions. As part of the reorganization Nokia will also create two other new divisions, called Software & Services, and Markets, to replace its existing structure. The divisions will all be launched on Jan. 1, 2008, the company announced Wednesday. "When we introduced the [current] structure in early 2004, the market was still very voice centric at the time," said Nokia spokeswoman Arja Suominen. "The other areas were small but have grown much since then. So it makes sense to bring all these together in one unit." Nokia said the changes will help to make its product development and manufacturing operations more effective and reduce the time it takes to bring new products to market. "This isn't a cost-cutting exercise," Suominen said. "We seek greater efficiency." The move comes as Nokia faces new low-cost challengers from Asia, as well as markets with high levels of phone penetration in developed countries. The current enterprise solutions unit will be split up, with business phones such as the E90 Communicator and the E61 smart phone to be merged into the device unit, and enterprise systems such as e-mail and security to be rolled into the services & software unit. The services & software unit will also be in charge of all software products, including games, and Internet services, including navigation and music, that consumers can purchase separately. Operating system software, such as the Series 60 OS, will be part of the device unit. The device and services & software units will have their own research and development (R&D) teams. The Nokia Research Center will continue to pursue long-term research at the corporate level. The third new unit, markets, comprises manufacturing, distribution, sales and marketing. The changes will also be reflected in Nokia's financial reporting. Beginning next year it will publish financial figures for two segments: devices & services andÂ Nokia Siemens Networks. Nokia joined forces with Germany's Siemens last year to form the joint venture Nokia Siemens Networks. The new device unit will be headed by Kai ÃistÃ¤mÃ¶, who is currently in charge of Nokia's mobile phones business group. Niklas Savander, currently in charge of technology platforms, will head the services & software unit. The markets unit will be the responsibility of Anssi Vanjoki, who is currently heading the multimedia business group.
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Cingular Wireless has said it plans to cut at least 10 percent of its workforce -- some 7,000 jobs -- over the next year and a half.