News Nokia sheds 1,700 jobs

http://www.bit-tech.net/news/bits/2009/03/18/nokia-sheds-1700-jobs/1

Nokia is to drop 1,700 jobs as the global credit crunch makes its bite known, as a response to a massive drop in sales of 19 percent at the end of last year.

 

To say that Nokia has been having "a few problems" is an understatement, in the latter half of 2008 they got totally raped by Samsung, and to think they were untouchable market leaders a year ago, they're now languishing in second/third largest handset producer.

 

Not really. Samsung had even more problems, as they moved towards premium feature-phones (i.e. Omnia, Innov8, Soul etc.) targeted at kids with rich parents, while the parents are less happy to buy their kids new gadgets. Nokia is still strong in the business solutions (e-series) where Samsung has basically nothing worthwile. Nokia also spent lots of cash trying to get into American market (which is of course completely dominated by Blackberry (for business) and iPhone (for morons)). All in all, these aren't good times for companies wchich make gadgets, thanks to the whole "recession" crap (which is just a self-driven hype)