Nokia To Cut 1,800 Jobs As It Reports Profit
Helsinki, Finland (AHN) – Finnish mobile phone maker Nokia announced Thursday it will cut 1,800 jobs. The company issued the statement after reporting a net profit of $741 million for the three-month period ending in September, after a loss of close to that amount one year ago.
The company – which is the largest handset maker in the world – said it sold 10 million handsets, an increase of 2 percent from last year.
Stephen Elop, the new boss of the company, said Nokia needed to reevaluate its place in the industry. Elop, formerly with Microsoft, took the reins of the company last month. He is the first non-Finn head of Nokia.
Nokia warned its market share would shrink. The company is facing stiff competition from Apple’s iPhone and phones with the Google Android operating system.
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