Saturday, 16 June 2012

Nokia to cut jobs, close units; India won't be impacted!!!...

NOKIA corporation once the best cellphone maker now bleeds under it's competition due to its decade old technology and other reasons. 

Nokia Corporation  is a Finnish multinational communications corporation headquartered in EspooFinland. Its principal products are mobile electronic devices, primarily mobile telephones and other communications devices. It also offers Internet services including applicationsgames, music, maps, media and messaging through its Ovi platform, and free-of-charge digital map information and navigation services through its wholly owned subsidiary Navteq. Nokia has a joint venture with SiemensNokia Siemens Networks, which provides telecommunications network equipment, solutions and services.
Nokia Headquarters in Espoo,Finland

Nokia has around 124,800 employees across 120 countries, sales in more than 150 countries and annual revenues of around €38 billion. As of 2012 it is the world's second-largest vendor of mobile phones by unit sales (after Samsung), with a global market share of 22.5% in the first quarter. Nokia is a public limited-liability company listed on the HelsinkiFrankfurt, and New York stock exchanges. It is the world's 143rd-largest company measured by 2011 revenues according to the Fortune Global 500.

Nokia logo's since 1865 when it was a rubber company

After a much rule of Nokia in the world telephone shares Nokia is poised to cut jobs due to it's losses.

Nokia plans to cut more than 10,000 jobs at its global cellphone business and also shut down some units as it loses market share to rivals Apple and Samsung and burns through cash, raising new fears over its future. 
The company also announced major management changes. 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.
Nokia job cuts

"The job cuts and profit warning underline the seriousness of the challenges Nokia is facing, particularly in light of the eye-watering competition from Apple and Samsung," said Ben Wood, head of research, CCS Insight.
The company said its restructuring-related cash outflows would be around €650 million in the remaining three quarters of 2012 and around 600 million in 2013.
Shares in Nokia has crashed more than 70% since it announced the switch to Microsoft's software in February 2011.
A funny logo of Nokia with a tag line disconnecting people rather than connecting people

No significant impact on India
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.

India is still the best market for Nokia corporation but the trends are seen changing.

Worldwide smartphone market, by operating system, by 2011 global sales
according to Canalys
Operating SystemShipments 2011
Market share 2011Annual growth
Windows Phone6.81.4%-43.3%
Source: Canalys (Feb 2011)via: mobiThinking

*Symbian is an OS(operating system) used by Nokia corporation

Nokia sales chart for one year

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