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  5. Nokia cuts R&D jobs, focusing on smartphones

Nokia cuts R&D jobs, focusing on smartphones

Nokia cuts R&D jobs, focusing on smartphones

Mobile phone giant Nokia is axing 330 research jobs in Finland, as it looks to cut costs in the face of the downturn in demand for new handsets.

According to a Nokia spokesperson, the redundancies form part of a new strategy that will see the company reduce the number of mobiles it brings to market in favour of a smaller range of high-end models.

Latterly, Nokia typically releases up to 50 new mobile phones every year, including a substantial number of mid-range and low-end handsets.

More recently, however its promotional focus has discernably shifted towards smartphones, such as the forthcoming Nokia N900 and Xperia X10 models.

The cost-cutting program currently being embarked on is aimed at saving £629 million at its handset division.

Earlier this year, the firm announced a loss of £836 million for the third quarter. This was its first quarterly loss for a decade.

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