Nokia will cut up to 14 000 jobs as part of a new cost-savings plan after third-quarter sales dropped 20%.
Browsing: Pekka Lundmark
Nokia has announced plans to change its brand identity for the first time in nearly 60 years, complete with a new logo.
Shifting geopolitics and a sharp round of cost cutting have put Nokia firmly back in the global 5G roll-out race just a year after CEO Pekka Lundmark took the reins at the Finnish company.
The global chip shortage is going from bad to worse with car makers on three continents joining tech giants Apple and Samsung Electronics in flagging production cuts and lost revenue from the crisis.
With its $6.6-billion contract win with Verizon Communications, Samsung Electronics has reinforced its position as a challenger to the dominance of Nokia and its Nordic rival, Ericsson
Missteps helped drive shares of Nokia in its current form close to their all-time lows as a multiple of expected earnings. Its new CEO, Pekka Lundmark, is tasked with the difficult job of returning it to prosperity.