Feeds

Nokia to cut 1,800 jobs

But is making money for a change

Intelligent flash storage arrays

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. ®

Security for virtualized datacentres

More from The Register

next story
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
Sea-Me-We 5 construction starts
New sub cable to go live 2016
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
Surprise: if you work from home you need the Internet
Buffer-rage sends Aussies out to experience road rage
EE buys 58 Phones 4u stores for £2.5m after picking over carcass
Operator says it will safeguard 359 jobs, plans lick of paint
MOST iPhone strokers SPURN iOS 8: iOS 7 'un-updatening' in 5...4...
Guess they don't like our battery-draining update?
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.