The reductions bring Nokia’s total job cuts to over 2,300 following over 1,700 jobs lost earlier this year. It has often explained these as necessary due to the economy but is partly mirroring its own struggle to compete,” Electronista reports.
“It has lost smartphone market share and is generating less profit than Apple despite selling roughly ten times or more phones each quarter,” Electronista reports. “Most of Nokia’s cellphone sales now skew towards inexpensive devices and are rarely as profitable as the iPhone.”
Full article here.
MacDailyNews Take: Stick a fork in them, Nokia’s done.
We’ve had one of these before, when the dot-com bubble burst. What I told our company was that we were just going to invest our way through the downturn, that we weren’t going to lay off people, that we’d taken a tremendous amount of effort to get them into Apple in the first place — the last thing we were going to do is lay them off. And we were going to keep funding. In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that’s exactly what we did. And it worked. And that’s exactly what we’ll do this time. – Apple CEO Steve Jobs, February 2008
