Due to less competitiveness of other technology companies, Nokia plans to close several plants next year. As proclaimed metro.co.uk, Friday (15/6), several research and development center will be closed, including the factory in Ulm, Germany, and Burnaby, Canada.
The Finnish company said they want will significantly reduce operating costs the company over the next 18 months. "Nokia is significantly increasing the cost reduction targets for devices and services. It was forced dilkukan to support the efficient strategy," said Nokia chief financial officer Timo Ihamuotila.
Nokia intends to maintain a strong financial position. Nokia also will continue its aggressive actions and that, with actions aimed at creating shareholder value. In addition to the closure of some factories, Nokia also plans to lay off 10 000 employees.
Nokia company's stock price has dropped dramatically over the last five years. That's because Apple and Samsung dominate the smartphone market. (SHA)