Thursday, June 14, 2012

Ouch. That's gotta sting...

 Nokia to Cut 10,000 Jobs as Elop Tries to Stanch Losses

To challenge Apple and handset makers using Google Inc.'s Android software, Elop adopted Microsoft's Windows Phone, abandoning Nokia's homegrown Symbian operating system. Nokia shipped more than 2 million Lumia smartphones running Windows Phone last quarter, while Apple sold 35.1 million iPhones.

Nokia's total handset shipments declined 24 percent in the first quarter, allowing Samsung to overtake the company as the world's biggest mobile-phone maker. Nokia's operating margin for mobile phones plunged to 3.7 percent last year from more than 20 percent before Apple introduced the iPhone in 2007.

"We don't have Nokia returning to profitability devices in the foreseeable future, not this year and not next," Peterc said.


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