Mobile phone giant Nokia Corp. (NOK) said Friday that it plans to align its research and development operations in Finland and Denmark to be in line with the company's focused portfolio of future products, which will eliminate up to 330 jobs. The planned changes are expected to affect up to 230 employees at the company's Oulu site in Finland and about 100 employees at Nokia's Copenhagen site. The total number would represent nearly 2% of Nokia's R&D personnel globally. Nokia said it aims to support the employees with alternative solutions, such as finding new positions within the company for as many employees as possible. The handset maker will begin consultations with employee representatives about these plans, where voluntary severance packages also will be discussed. Overall, Nokia has over 17,000 people employed in its R&D activities. The company has over 2,000 employees in Oulu and over 1,000 employees in Copenhagen in R&D.
The company reportedly plans to concentrate on bringing out less number of models, which cater to popular demand.
Early this month, Nokia said it plans to cut about 7% to 9% of workforce in its unit Nokia Siemens Networks, as a part of its plan to improve financial performance and return to growth.
The economic crisis has hurt the mobile giant's sales and profit alike. On October 15, Nokia reported a loss for the third quarter, reflecting mainly a hefty impairment charge in Nokia Siemens Networks. On a reported basis, Nokia's third-quarter net loss was 913 million euros, compared to prior year's profit of 1.055 billion euros. Net loss attributable to equity holders of the parent was 559 million euros or 0.15 euros per share, compared to a profit of 1.087 billion euros or 0.29 euros per share a year earlier. Third-quarter net sales fell 19.8% to 9.81 billion euros from 12.24 billion euros in the prior-year quarter.
Late last month, IDC, a provider of market intelligence and advisory services, said worldwide shipments of mobile phones declined 6% year-over-year in the third quarter of 2009. Although Nokia led the list of top five mobile phone vendors, the company witnessed a slide in unit shipments and market share in the third quarter. IDC said Nokia had third-quarter shipments of 108.5 million units, down 8% from last year, and a market share of 37.8%, compared to 38.6% in the prior-year period.
NOK closed Thursday's regular trade at $13.61, down from the previous close of $13.93, on 13.35 million shares.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.