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Nokia will cut 3,500 jobs and close factories in Europe

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Nokia announced plans to cut 3,500 jobs by the end of 2012 to adjust its workforce and operations. This is the second major restructuring in six months the company , which faces declining sales and profit. The Finnish company will close the factory that opened four years ago in Cluj, Romania, and cut with it, 2.2 million jobs. The unit cell produces simpler than smartphones. Nokia also announced cut of 1,300 jobs in the service unit that includes digital mapping, Navteq.

Stephen Elop, CEO of Nokia, and Steve Ballmer of  Microsoft, announced a strategic partnership in the area  of early 2011

Stephen Elop, CEO of Nokia, and Steve Ballmer of Microsoft, announced a strategic partnership in the area of early 2011

Industrial operations in Salo, Finland, Komaron, Hungary, and Reynosa, Mexico, will be subject to review, with the intention to shift the focus to customers and software. The cuts on Thursday (29) are part of a plan to save more than 1 billion euros, revealed in July.

In its new phase of reorganization, Nokia cut staff in the study area manufacturing and support functions. In the segment of Location & Commerce, the intention is to concentrate efforts in Berlin, Boston and Chicago and elsewhere and stop operations in Bonn (Germany) and Malvern (USA).

 

Patent dispute between Nokia and Apple ends in agreement

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The patent battle between Nokia and Apple did not end with an injunction, but with a statement citing a license agreement and payments from Apple for the Finnish company.

Details of the agreement are confidential, but Nokia said that Apple will make a payment at once, followed by periodic royalties. The agreement will also boost the results of Nokia in the second quarter, after the company warned in late May that he could not meet its goals.

Nokia shares rose as much as 3% after analysts received the news positively and stated that this will help Nokia to focus on their core business at a time when it faces serious challenges.

“They are the first positive news coming from Nokia in a long time. Both companies can now focus on their business, and the dispute was resolved in favor of Nokia,” said Mikael Rautanen analyst Inder in Helsinki.

Analysts said the company would start to receive 1% to 2% of the revenue from iPhone, as calculated at around U.S. $ 43 billion this year, according to a Reuters poll.

“We are very pleased that Apple has joined the growing number of licensees Nokia,” said Stephen Elop, president of Nokia. “This agreement demonstrates Nokia’s leadership in its patent portfolio and allows us to focus even more on licensing opportunities in the mobile communications market.” Concludes Elop.

 

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