Home Business Nokia Disconnecting 10,000 Jobs Worldwide - Woes Escalating?

Nokia Disconnecting 10,000 Jobs Worldwide – Woes Escalating?

How wrong or delayed decision to adopt fast changing technology can prove fatal to a company can be best illustrated by the fate of once world-renowned and dominant leader of handsets maker – Nokia of Finland. Nokia has done himalayan blunder not to visualize  the rise of smartphones and did not turn to Android OS for its devices when it was ready with smartphones. Nokia  is struggling to keep up with Apple, Samsumg and Google. It is also losing market share in cheaper, more basic phones.

In a second profit warning in nine weeks, Nokia said on Thursday that its phone business would post a deeper-than-expected loss in the second quarter. To stop fast evaporation of its cash reserves because of dwindling sales, Nokia is planning to cut 10,000 jobs world-wide. Nokia also announced closures of its facilities in Ulm in Germany and Burnaby in Canada as part of its planned measures to re-scale the company by making additional reductions in devices and services.

Chief Executive Stephen Elop is still  placing hopes of a turnaround on a new range of Lumia smartphones, which use largely new and untried Windows mobile operating system against well-entrenched Android OS used by Samsung and other vendors of smartphones. This is the main reason that  Lumia sales have so far been slow, disappointing investors.

The changes at the global level will not have any significant impact on Nokia’s India operations, the company said. “Today’s planned changes will impact Nokia employees throughout operations globally. While we anticipate impact at other sites, we don’t see significant impact on India operations,” a Nokia spokesperson said.

Nokia also said it would sell luxury phone business Vertu to venture firm EQT and revamp its management team.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Recent Articles

Ather 450X Series1 Collector’s Edition Electric Scooter Unveiled

Ather Energy has unveiled the collector’s edition of the Ather 450X, called Series1. This limited-edition scooter is available only to those Ather...

Oppo Announces Attractive Offers on Reno3 Pro, Reno4 Pro & F17 Series Smartphones

OPPO has announced attractive & affordable offers on their popular devices from the Reno series and recently launched F17 series. Some of...

Canon Introduces EOS C70 Camera Equipped with an RF Mount & Mount Adapter

Canon India announced today the launch of the EOS C70 camera which is the newest addition to their Cinema EOS System. This...

Garmin Instinct Solar, fenix 6 Pro Solar Smartwatches Launched, Starting at Rs. 42090

Garmin India has today expanded its portfolio of solar-powered smartwatches with the launch of all-new Instinct Solar, fenix 6 Pro Solar. These...
3,042FansLike
0FollowersFollow
32,600FollowersFollow
2,439FollowersFollow
18,400SubscribersSubscribe