Nokia Plans More Cost-Cutting Measures
Nokia said that the company expects to cut costs further in the wake of its latest quarterly report, which shows the company lost $1.7 billion amidst a 50% decline in smartphone sales. The company will announced cuts to its devices and services business units in the weeks to come. Nokia has already closed plants and reduced its head count by thousands of employees as it restructures its smartphone business around Microsoft's Windows Phone platform. The company also announced that its head of sales will leave the company in June as its sales department is reorganized. The company sold just 600,000 devices in the U.S. market during the first quarter of 2012. Nokia CEO Stephen Elop blamed fierce competition in the smartphone market, as well as lower average selling prices for its devices in emerging markets for contributing to the quarterly decline. The company sold a total of 70.8 million handsets around the world.
Microsoft to Cut 1,850 Smartphone Workers
Microsoft today said it plans to further streamline its smartphone business, an action that includes job cuts and restructuring charges. The company plans to cut 1,350 jobs from its facilities in Finland, as well as another 500 jobs globally.
BlackBerry Cuts Priv's Price By $50
BlackBerry has given the Priv a price cut. The smartphone maker dropped the price of the phone from $699 to $649.
Microsoft Prepared to Cut More Jobs
Microsoft is planning to announce a new round of layoffs as early as today, reports the New York Times. Many of the cuts will target employees in Microsoft's hardware group, such as the smartphone unit it bought from Nokia in 2014.
Lenovo to Slash 3,200 Jobs After Motorola Sales Slide
Lenovo today said it plans to reduce its headcount by as many as 3,200, or about 10%, as it looks to reduce expenses. The company reported earnings and said sales across its various business units dropped by 9% during the quarter.
Sony to Reign In and Reduce Its Smartphone Business
Sony today announced its intent to transform its smartphone business with a eye on making it a profitable operation. The company, in effect, admitted its goal of becoming the world's number three smartphone maker behind Samsung and Apple was perhaps too ambitious.
Nokia going bye-bye?
Also include lowest stock prices in over 15 years, board members and officers jumping-ship... I mean, resigning... and worldwide sales down over 50% YoY even from last year's low point. "The Elopocalypse" has not been so good to them, after all. The news has been super nasty, and only seems to be getting worse. The parallel demise of RIM seems to be helping to keep them above-water at the moment, but it won't last much longer if any longer at all.
Two years ago, I would never have guessed that Nokia would end...