Streamlining of the corporate functions is due to take place for Nokia Corp. together with some necessary job cuts. This forecast is said to be presented by Chief Executive, Stephen Elop who put forth his full-year margin forecast on Thursday.
From a €559 million loss, it is said to have swung to a €529 million ($737.9 million) for the Finland-based Nokia, Espoo. This loss had been a year earlier when the result had been hit by the heavy impairment charges.
Without the anticipation of the new Smartphone and software launches helping in reshaping their fortune, there is said to be a 4.7% rise in sales in the third quarter to €10.27 billion.
For the sake of the upcoming Symbian Smartphones, Nokia plans to bring about 18,000 job cuts.
While Nokia expects its volume market share to see a downfall in the year 2010 in comparison to the year 2009, it is said to have increased its full-year operating margin guidance.
The Company too is said to have made an announcement concerning the departure of their top Managers. The list comprises of names like the former CEO Olli-Pekka Kallasvuo. This is being done so that the Company can keep up with its competitors, such as like iPhone-maker Apple Inc. and Android-device maker HTC Corp.
No comments:
Post a Comment