1,800 jobs go at Nokia amid phone delay

first_imgNokia benefited from the cheaper end of the mobile phone market but the average price for its phones rose to €65 — the first annual price rise in almost a decade ­– as new, cheap smart phones like the C5 and the E5 went on sale and parts shortages capped sales of the cheapest phones.“The main contribution here is really from component shortages and that hit us more in the lower end were Nokia is strong,” chief financial officer, Timo Ihamuotila, said.It said it expected part shortages to continue creating problems into 2011 and forecast operating profit margin to be 10-12 per cent in the fourth quarter.Nokia’s N8 model, its first serious rival to Apple’s iPhone, started shipping on the last day of September but sales are yet to start in many markets.Elop said he had decided to delay launching Nokia’s first product using the new MeeGo software platform, saying: “My assessment was that it would be a 2011 event.”Elop is the first non Scandinavian to run the company in its history and only assumed his role last month replacing Olli-Pekka Kallasvuo. Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content whatsapp NOKIA’s new chief executive Stephen Elop put his stamp on the company yesterday by cutting 1,800 jobs, equivalent to three per cent of the company’s workforce, and delaying the launch of a key product after the mobile phone manufacturer posted stronger -than-expected results.It is not known whether UK workers will be affected by the job losses as the company said it had yet to decide where the axe will fall. Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULLcenter_img Share 1,800 jobs go at Nokia amid phone delay The news came as Nokia reported a third-quarter net profit of £471m, reversing a £491m loss for the same period last year. Despite the improved results Nokia said its market share dropped to just 30 per cent, it sold 110.4m phones in the third quarter.Nokia shares rose to their highest level in 20 weeks on the news closing in Helsinki up 6.3 per cent. Thursday 21 October 2010 8:38 pm whatsapp last_img