Nokia Turns To Profit And Cuts 1,800 Jobs

Posted: Oct 21 2010, 6:47am CDT | by , Updated: Oct 22 2010, 5:42pm CDT, in News | Mobile Phones

Nokia turns to Profit and Cuts 1,800 Jobs
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Nokia announced their Q3 2010 earnings and the company is back in black. Nokia turned a profit of EUR 529 million compared to a loss of EUR 559 million a year ago. Nokia net sales of EUR 10.3 billion are up 5% year-on-year.

Nokia achieves these numbers without having a smartphone on the market that competes with the iPhone and the Android phones. This is pretty impressive and shows just how big the market for "normal phones" still is. Additionally Nokia is not just about phones. They are also an equipment maker and services company.

Nokia also announced plans today to cut up to 1,800 employees globally. The plans include simplifying operations in product creation in Nokia's Symbian Smartphones organization, as well as Nokia's Services organization and certain corporate functions.

On Symbian Smartphones, Nokia plans to renew product creation to increase responsiveness to consumer demands and reduce time to market. This includes expanding the use of common tools for application development, streamlining software development, simplifying and consolidating operations and placing greater focus on adding value to consumers. The changes target increased competitiveness and support building an attractive and sustainable platform for application developers.

We already reported earlier today that Nokia now pushes Qt as the single development tool for Symbian and Meego.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
Luigi can be contacted directly at ml[@]




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