Feeds

Nokia to cut 1,800 jobs

But is making money for a change

The essential guide to IT transformation

Nokia is to lay off 1,800 people even as it reports increasing earnings and good profits.

Net sales, for the last quarter, are up to €10.3bn, with profit jumping to €403m compared to a loss of €426m in the same period last year. But that's not good enough, so the company is shaking down its smartphone business by axing 1,800 jobs and pulling developer support for Symbian.

Symbian handsets might still be around, but development for them will all be in Qt. New boss Stephen Elop reckons that's going to make creating new phones simpler, which means it can be done with a lot fewer people.

Nokia is still shifting a lot of smartphones - more than 26 million of them in the last three months alone. However, its share of the world's phone market is decreasing - down to 30 per cent by its own estimate, down four per cent on this time last year.

Breaking down the numbers, device and services sales were €7.2bn, up four per cent on the year, while Nokia Siemens Networks sales were €2.9bn, up seven per cent on the year.

Fourth quarter devices and services sales are expected to come in at €8.2bn to 8.7bn in the fourth quarter, with margins of 10 to 12 per cent. Nokia Siemens Networks revenues are expected to be 4.3bn to 3.8bn, with operating margins of two to five per cent. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
So, Apple won't sell cheap kit? Prepare the iOS garden wall WRECKING BALL
It can throw the low cost race if it looks to the cloud
EE fails to apologise for HUGE T-Mobile outage that hit Brits on Friday
Customer: 'Please change your name to occasionally somewhere'
Time Warner Cable customers SQUEAL as US network goes offline
A rude awakening: North Americans greeted with outage drama
We need less U.S. in our WWW – Euro digital chief Steelie Neelie
EC moves to shift status quo at Internet Governance Forum
BT customers face broadband and landline price hikes
Poor punters won't be affected, telecoms giant claims
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.