Nokia to Cut 10,000 Staff by End 2013, Sell Vertu
Nokia said that it plans to cut up to 10,000 positions globally by the end of 2013, and is selling luxury phone maker Vertu in a bid to cut costs, even as it plans to boost investments in feature phones, and smartphones based on the Windows Phone operating system.
The company also announced changes in its senior management and plans to acquire imaging specialists as well as all technologies and intellectual property from Scalado in Lund, Sweden.
Nokia also plans to invest in its location-based platform as a way of differentiating its Lumia smartphones with services such as navigation and visual search applications such as the recently announced Nokia City Lens.
On the expenses front however, Nokia said it plans reductions in certain research and development (R&D) projects, resulting in the planned closure of its facilities in Ulm, Germany and Burnaby, Canada. It will also consolidate its manufacturing operations, resulting in the planned closure of its manufacturing facility in Salo, Finland. R&D in Salo will however continue.