Tuesday, April 28, 2009
Nokia will cut up to 360 jobs at their Internet services unit as it combines offerings into its new Ovi Store, the world's top cellphone maker reported.
Nokia's new online software and multimedia store will challenge Apple's hugely successful App Store from May.
Nokia, which made its first ever quarterly pretax loss in January-March, is cutting annual costs at its key handset unit alone by more than 700 million euros ($911 million) to counter plunging demand.
To cope with slowing phone demand Nokia is building a new business from mobile Internet services—like games or maps—but has scaled back investment plans due to the slowdown.
By: DocMemory
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