Nokia Cancels $5 Billion Worth of Manufacturing Contracts

posted Mar 28, 2009, 12:04 PM by Eric M. Zeman

Nokia recently announced that it has slashed its outsourcing operations to the tune of $5 billion. Nokia uses several outside companies to manufacture some of its phones. In 2008, for example, about 17% of all Nokia handsets were not actually made by Nokia. Nokia said it has completely halted all outside manufacturing, and will make all its own phones for an undefined period of time. Nokia cited the slackening demand for handsets worldwide for the scale-back.

more info at Reuters »

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