Nokia’s Mexico, Hungary, Finland Phone Assembly Goes To Asia; 4,000 Jobs Go

Today brings news of yet another round of capital-intensive cost-cutting for the challenged mobile phone maker Nokia: the company today announced that it would be transferring smartphone assembly from factories in Hungary, Finland and Mexico, and putting the operation in Asia.

The plants will remain operational now for “smartphone product customization.” The news comes amidst unconfirmed reports that the company is planning to curtail its Symbian lineup after the release of the next model.

Nokia (NYSE: NOK) says that the transfer will result in the loss of 4,000 jobs in total, and the reductions will take place through ...

Read the full story at paidContent

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