It has been suggested that Nokia makes more money licensing patents to Apple than from Lumia sales
10:03am UK, Thursday June 14, 2012
Nokia has made another tough call in its battle to restore its market position in the smartphone wars - cutting a further 10,000 jobs over 18 months.
The loss-making Finnish company, which has lost ground to Apple and other providers such as HTC, also warned that the second-quarter loss from its phone business would be larger than expected.
It brings total planned job cuts at the group since Stephen Elop took over as chief executive in September 2010 to more than 40,000.
The biggest casualty is Nokia's only manufacturing plant in Finland, which is to be closed.
It will also shut some research and development projects in Germany and Canada.
Nokia had warned of cutting costs further when it announced a ?760m first-quarter loss last month.
The decision would add restructuring charges of around ?800,000 by the end of 2013, the company said, taking the total bill to around ?580m for the remaining three quarters of 2012 and around ?500m in 2013.
Nokia said it was aimed at returning the company to profitable growth by sharpening strategy and improving its operating model.
Shares have crashed more than 70% - 9% lower on opening - since the company announced in February 2011 that it was dropping its own Symbian smartphone operating software and switching to Microsoft's largely-untried Windows Phone system.
It is fighting fierce competition from Apple's iPhone and other makers using Google's popular Android software, including Samsung and HTC.
Nokia is also being squeezed in the low end by Asian manufacturers making cheaper phones, such as China's ZTE - threatening its overall market dominance.
It has been suggested by analysts that Nokia makes more money from licensing patents to Apple than from sales of its latest Lumia devices - such is the scale of the battle at the high end of the market.
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