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As demand has slowed in countries such as the United States, Nokia and rival Ericsson (ERICb.ST) have tried to offset some of the weakness with higher sales to India, a low-margin market. Nokia is targeting savings of between 800 million euros ($842 million) and 1.2 billion euros by 2026, its deadline to deliver a long-term comparable operating margin plan of at least 14%. Nokia expects at least 400 million euros of savings in 2024, and a further 300 million euros in 2025. Quarterly comparable net sales fell to 4.98 billion euros from 6.24 billion last year, missing an estimate of 5.67 billion euros according to a LSEG poll. "There are signs here and there that demand would start to pick up again but it's too early to call it a broad-based trend," Lundmark said.

Persons: Albert Gea, Pekka Lundmark, Lundmark, it's, Supantha Mukherjee, Anne Kauranen, Anna Ringstrom, Clarence Fernandez, Barbara Lewis Organizations: Mobile World Congress, REUTERS, STOCKHOLM, Nokia, Ericsson, Reuters, Thomson Locations: Barcelona, Spain, American, HELSINKI, Finnish, United States, India, North American, China, Stockholm, Helsinki

☆ Nokia to Cut 14,000 Jobs in Major Overhaul at Telecom Giant
▼ + stars: | 2023-10-19 | by ( Jin Yu Young | More About Jin Yu Young | ) www.nytimes.com time to read: +1 min

Nokia announced a major overhaul of its business on Thursday that includes slashing up to 14,000 jobs, or about 16 percent of its work force, over the next three years. The company employs 86,000 people and said the “reset” would reduce its costs by as much as 1.2 billion euros, or roughly $1.3 billion. Nokia once led the global mobile phone market, but it quickly fell behind the iPhone, which was released by Apple in 2007. Nokia sold its mobile phone division to Microsoft in 2013. Since then, it has focused on selling the back-end infrastructure of telecom systems to wireless companies, cable operators and other business buyers.

Persons: Pekka Lundmark Organizations: Nokia, “, Apple, Microsoft

☆ Nokia says it's going to cut up to 14,000 jobs
▼ + stars: | 2023-10-19 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Nokia said on Thursday it is planning to cut up to 14,000 jobs — or around 16% of its workforce. The company is planning to lower costs by up to 1.2 billion euros by 2026. AdvertisementAdvertisementFinland-based mobile company Nokia is planning to cut between 9,000 to 14,000 jobs amid a sales slump and reduced demand for 5G equipment, it said on Thursday. The layoffs are part of cost-cutting measures to reduce expenses by 400 million euros, or $421 million, in 2024 and a further 300 million euros in 2025. AdvertisementAdvertisementA Nokia spokesperson directed Insider to the company statement in response to a request for comment.

Persons: —, Pekka Lundmark, Lundmark Organizations: Nokia, Service, Microsoft Locations: Finland, Espoo, India, North America

HELSINKI (AP) — Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit. The company said it is aiming to slash 800 million euros ($843 billion) to 1.2 billion euros in costs by the end of 2026. That is expected to lead to a reduction from 86,000 employees to between 72,000 and 77,000 over that time period. Nokia’s third-quarter sales plummeted 20%, to 4.98 billion euros from 6.24 billion in the same three-month period last year. The company’s biggest unit by revenue — the mobile networks business — declined 24% to 2.16 billion euros, driven mainly by weakness in the North American market.

Persons: it's, Pekka Lundmark, Lundmark, China’s, ” Lundmark, — Organizations: HELSINKI, — Telecom, Nokia, Ericsson, China’s Huawei, South, Samsung, “, North, North America nosedived Locations: Finnish, North American, North America, India

☆ Nokia layoffs: Company will slash up to 14,000 jobs
▼ + stars: | 2023-10-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Nokia will slash up to 14,000 jobs in a major cost-cutting drive to address a “weaker” market environment, it said in a statement on Thursday. The move will help the company reduce staffing expenses by 10% to 15%, and save at least €400 million ($421.4 million) in 2024 alone, the company projected. Overall, it said the reductions are expected to trim Nokia’s costs by up to €1.2 billion (nearly $1.3 billion) cumulatively by the end of 2026. “The most difficult business decisions to make are the ones that impact our people,” CEO Pekka Lundmark said in the statement. “We have immensely talented employees at Nokia and we will support everyone that is affected by this process.”The announcement came on the same day that Nokia reported worse-than-expected results.

Persons: Pekka Lundmark, Nokia’s, “, Lundmark Organizations: Hong Kong CNN — Nokia, Nokia, ” Mobile, Ericsson Locations: Hong Kong, India

☆ For 50 Years, Emanuel Ax Has Made Music Sound Simply Right
▼ + stars: | 2023-09-01 | by ( David Allen | ) www.nytimes.com time to read: +1 min

He has said things like this forever, sought to share the spotlight or point it wholly elsewhere. And his modesty, which he wraps in a jesting smile and a famous bonhomie, is at the heart of his pianism and personality alike. “So in the very, very best sense of the word, he kind of eradicates himself out of the picture.”Might that mean, though, that Ax is taken for granted? How many have had his ability, not unlike that of his late associate Bernard Haitink, to make music sound so simply right? As Ma put it, “He doesn’t go around saying, ‘And I did this.’” In fact, Ma recalled, when Ax told him that this article was happening, he said, “I don’t know why they’re doing this.”

Persons: That’s Manny, ”, Pekka Salonen, Anders Hillborg, “, eradicates, Ax, Bernard Haitink, Ma Organizations: San Francisco Symphony

☆ Former Finnish PM Alexander Stubb to run for president
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

Former Prime Minister of Finland Alexander Stubb at the EPP congress in Helsinki, November 7, 2018. Lehtikuva/Jussi Nukari via REUTERS/File Photo Acquire Licensing RightsHELSINKI, Aug 16 (Reuters) - Former Finnish Prime Minister Alexander Stubb said on Wednesday that he will be a candidate in Finland's presidential election due in January of 2024. His announcement came after incumbent premier Petteri Orpo on Sunday asked Stubb to become the National Coalition party's candidate. "In this geopolitical situation the answer is unequivocal: when the fatherland calls, then we go," Stubb told reporters. Stubb, currently a professor and director of the European University Institute in Florence, Italy, held several ministerial posts before serving as prime minister between 2014 and 2015.

Persons: Finland Alexander Stubb, Lehtikuva, Jussi Nukari, Alexander Stubb, Petteri Orpo, Stubb, Pekka Haavisto, Mika Aaltola, Olli Rehn, Anne Kauranen, Terje Solsvik Organizations: EPP, REUTERS, Rights, National Coalition, European University Institute, Bank of Finland, Thomson Locations: Finland, Helsinki, Finnish, Florence, Italy

Nokia and rival Ericsson (ERICb.ST) have been hit by slowing orders from customers, mostly in their high-margin North American markets. The results come after Nokia last week cut its annual sales and profit margin outlook and Ericsson reported a big fall in quarterly profit. Comparable operating profit in the second quarter fell to 626 million euros ($702.37 million) from 714 million euros last year, but beat market estimates. The decline in North American markets was somewhat offset by India but with a lower margin. Nokia made gains with Indian operators, particularly with the likes of Reliance Jio Infocomm, which was dominated by Samsung for 4G, he said.

Persons: Pekka Lundmark, Lundmark, Supantha Mukherjee, Niklas Pollard, Josephine Mason Organizations: Nokia, Ericsson, Apple, Samsung, 4G, Thomson Locations: STOCKHOLM, Finnish, India, North America, Stockholm

☆ Tucker Carlson's first Twitter show went big on UFOs and Ukraine war conspiracy theories. Musk must know that spells disaster.
▼ + stars: | 2023-06-07 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Tucker Carlson's Twitter show finally made its debut. This may be problematic for Elon Musk if advertisers and users find the content crosses a line. The first episode of Tucker Carlson's Twitter show is finally here and it's exactly as you'd expect it to be: a meandering, uninterrupted monologue on Ukraine war conspiracies, 9/11, and UFOs. Carlson's debut will do little to dispel the sense that Twitter under Elon Musk has become a merry-go-round of conspiracies and extreme speech. Musk also tweeted Carlson's first episode not with a congratulatory note, but instead by extending an invitation to others to launch their own programs.

Persons: Tucker, Elon Musk, Tucker Carlson's, Carlson, Jeffrey Epstein, You've, Ritchie Torres, Pekka Kallioniemi, tweeting, Anne Applebaum, It's, Musk, Carlson's, Linda Yaccarino Organizations: Twitter, Morning, Tucker Carlson's Twitter, Fox News, herder, Elon, Democrat, Fox, The New York Times, NBC Locations: Ukraine, Tajikistan

☆ Southern Europe braces for climate change-fuelled summer of drought
▼ + stars: | 2023-05-17 | by ( Kate Abnett | ) www.reuters.com time to read: +6 min

As climate change makes the region hotter and drier, years of consecutive drought have depleted groundwater reserves. CLIMATE CHANGE TRENDSouthern Europe is not alone in suffering severe water shortages this year. The Horn of Africa is enduring its worst drought in decades, while a historic drought in Argentina has hammered soy and corn crops. "In terms of the climate change signal, it very much fits with what we're expecting," said Hayley Fowler, Professor of Climate Change Impacts at Newcastle University. Some 90% of the mainland is suffering from drought, with severe drought affecting one-fifth of the country - nearly five times the area reported a year earlier.

☆ Nokia profit misses forecast, expects stronger second half
▼ + stars: | 2023-04-20 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +2 min

However, it kept its full-year outlook unchanged and said it expects profitability in the second half of the year to be stronger than the first half. First-quarter comparable operating profit fell to 479 million euros ($524.94 million) from 583 million euros last year, missing the 532.4 million euro forecast of analysts polled by Refinitiv. Net sales grew 10% in the quarter to 5.86 billion euros, beating estimates of 5.72 billion euros, Nokia said. Lundmark expects some recovery in the North American market in the second half of the year. Comparable operating margin fell to 8.2% from 10.9%.

☆ Nokia quarterly profit misses forecast
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: +1 min

Nokia new logo displayed on mobile, with Nokia logo on screen. Nokia on Thursday reported quarterly operating profit below market expectations as the Finnish company is selling more 5G gear in low-margin markets and said it was seeing signs of customer spending slowing down. First-quarter comparable operating profit fell to 479 million euros ($524.94 million) from 583 million last year, missing the 532.4 million euro mean forecast of analysts polled by Refinitiv. Apart from getting big contracts from telecom operators for launch of 5G, Nokia has also managed to diversify its base to industrial customers who set up their own private 5G networks at power plants, utilities and mines among others. Net sales grew 10% in the quarter to 5.86 billion euros, beating estimates of 5.72 billion euros.

☆ Finland officially becomes a member of NATO, doubling the military alliance's border with Russia
▼ + stars: | 2023-04-04 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Finland's Foreign Affairs Minister Pekka Haavisto is concerned that his country's application to join NATO will be delayed. Finland on Tuesday became an official member of the military alliance NATO, prompted by Russian President Vladimir Putin's decision to invade Ukraine last year. Nor does it change the foundations or objectives of Finland's foreign and security policy," Finnish President Sauli Niinisto said in a written statement Tuesday. Finland shares an 832-mile border with Russia, the longest of any European Union member. Kremlin spokesperson Dmitry Peskov said Tuesday that Russia would closely follow any NATO deployments in Finland and that his country would take "counter-measures" to this accession, according to Reuters.

HELSINKI/BRUSSELS, April 4 (Reuters) - Finland will become a member of NATO on Tuesday, completing a historic security policy shift triggered by Russia's invasion of Ukraine, while neighbour Sweden is kept in the waiting room. "It will be a good day for Finland's security, for Nordic security and for NATO as a whole," NATO Secretary-General Jens Stoltenberg told reporters on Monday. Sweden underwent a similar transformation in defence thinking and Stockholm and Helsinki applied together last year to join NATO. Moscow said on Monday it would strengthen its military capacity in its western and northwestern regions in response to Finland joining NATO. Stoltenberg said he was "absolutely confident" that Sweden will become a NATO member.

☆ NHL roundup: Carter Verhaeghe nets career-best 4 goals in Panthers' win
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +9 min

Sabers 6, Flyers 3Alex Tuch scored his second career hat trick to help Buffalo to a win against host Philadelphia. Morgan Frost scored twice and Felix Sandstrom made 23 saves for the Flyers, who had their seven-game point streak snapped. Avalanche 5, Stars 2Nathan MacKinnon had two goals, Mikko Rantanen had a goal and three assists, and host Colorado beat Dallas. Ben Hutton, Zach Whitecloud and Brett Howden also notched goals for Vegas, which is 5-1-1 in its past seven games. J.J. Moser and Milos Kelemen scored for the Coyotes (27-37-13, 67 points), who have dropped seven straight games (0-5-2).

☆ NHL roundup: Streaking Rangers blow by Predators
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +6 min

They have scored 15 unanswered goals in their last three games, the longest streak in the NHL this season. Goalie Jaroslav Halak stopped all 22 shots he faced one night after Igor Shesterkin recorded the shutout with 33 saves. Kirill Marchenko and Liam Foudy scored goals and Patrik Laine had two assists for Columbus, which suffered its seventh loss in eight games. Daniil Tarasov made 24 saves on 29 shots before being pulled with 3:03 left in the second period. Hofer made 33 saves in his second game filling in for Jordan Binnington, who completed his two-game NHL suspension Sunday.

☆ Next-gen mobile internet — 6G — will launch in 2030, telecom bosses say, even as 5G adoption remains low
▼ + stars: | 2023-03-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +6 min

"We have not completed the deployment of 5G yet," Ha Min Yong, chief development officer of SK Telecom , told CNBC last week. However, after hundreds of billions of dollars of investment into 5G networks, carriers have struggled to see the return. I don't see any use cases today that we can't do with 5G or its immediate evolutions," Watson told CNBC last week. Many of the current 5G networks are built on top of equipment and technology from 4G. There will also be more software that powers 5G networks helping with efficiency such as the management of data traffic.

☆ NHL roundup: Bruins become fastest to 100 points
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +7 min

With their ninth consecutive win, the Bruins improved to 48-8-5 on the season and became the fastest team in NHL history to record 100 points, doing so in 61 games. Charlie Coyle, Brandon Carlo and David Krejci each recorded two assists while Patrice Bergeron and Connor Clifton also scored goals. Casey Mittelstadt scored the lone goal and Ukko-Pekka Luukkonen made 35 saves for the Sabres, who dropped their second straight. The Lightning are 2-3-3 in their past eight games and have lost three straight for the first time. The Stars gave goalie Matt Murray his NHL debut, and he finished with 19 saves for the win.

☆ Hungary starts process to ratify Finland, Sweden NATO bid
▼ + stars: | 2023-03-01 | by ( Gergely Szakacs | ) www.reuters.com time to read: +3 min

[1/4] A general view as the Hungarian parliament starts debating the ratification of Finland and Sweden's NATO membership in Budapest, Hungary, March 1, 2023. Sweden and Finland applied last year to join the transatlantic defence pact after Russia's invasion of Ukraine. With Hungary's ratification process stranded in parliament since July, nationalist Prime Minister Viktor Orban aired concerns about Sweden and Finland's NATO membership for the first time last Friday. "Finland and Sweden's NATO membership serves our foreign policy, security and economic interests and it also strengthens NATO." Finnish Foreign Minister Pekka Haavisto said on Tuesday Hungary intended to send a parliamentary delegation to Finland on or around March 9 to discuss the Nordic nation's bid for accession to NATO.

☆ British supermarkets are rationing fruit and vegetables as shortages bite
▼ + stars: | 2023-02-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

LONDON — Britain's biggest supermarkets are limiting purchases of certain fruit and vegetables as supply shortages lead to empty shelves. It said the move was due to poor weather conditions overseas and was working with suppliers to "get things back to normal." The U.K. government has not stated Brexit as a factor, blaming weather conditions. EU member Ireland is also experiencing fruit and vegetable shortages. U.K. Food Minister Mark Spencer said Monday he had spoken to retailers about how they are responding to shortages and asked them to build preparedness for future incidents.

☆ We expect an extended 5G market peak of many years, Nokia CEO says
▼ + stars: | 2023-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect an extended 5G market peak of many years, Nokia CEO saysPekka Lundmark discusses the outlook for 5G at the Mobile World Congress in Barcelona.

☆ NHL roundup: Wild's Kirill Kaprizov caps hat trick in OT
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +6 min

Sabers 7, Capitals 4Dylan Cozens delivered his first career hat trick, and Buffalo defeated visiting Washington. Vinnie Hinostroza had a goal and an assist for Buffalo, while Cozens added an assist for the first four-point game of his career. T.J. Oshie scored his fourth goal in three games and added an assist, and Dylan Strome had a goal and an assist. Nick Schmaltz had a goal and an assist, and Shayne Gostisbehere also scored a goal for Arizona. Trocheck added an assist, and Mika Zibanejad and Artemi Panarin each had a goal and an assist.

☆ Googlers are begrudgingly testing Bard and making memes out of their new task.
▼ + stars: | 2023-02-27 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Since it's a tough time in the tech industry right now, I hope this resonates with some of you, too. Thomas Maxwell/InsiderGooglers are begrudgingly testing their company's ChatGPT competitor. CEO Sundar Pichai asked every employee to spend multiple hours testing Google's new chatbot Bard. They were tasked with improving Bard by asking it questions and flagging bad answers, in addition to their normal responsibilities. Some made memes from the conversations they've had with Bard, continuing a trend of internally mocking the chatbot.

☆ Nokia changes iconic logo to signal strategy shift
▼ + stars: | 2023-02-26 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +3 min

[1/3] A mockup of the new Nokia logo, is seen at an unknown location, in this undated handout picture received on February 25, 2023. The new logo comprises five different shapes forming the word NOKIA. The iconic blue color of the old logo has been dropped for a range of colours depending on the use. Major technology firms have been partnering with telecom gear makers such as Nokia to sell private 5G networks and gears for automated factories to customers, mostly in the manufacturing sector. Nokia plans to review the growth path of its different businesses and consider alternatives, including divestment.

☆ NHL Roundup: Canes rout Caps in Stadium Series
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +9 min

Josh Brown and Travis Boyd each had a goal and an assist, and Christian Fischer also scored. Arizona has earned points in eight straight games (4-0-4) for the first time in 11 years. Corey Perry and Vladislav Namestnikov each had a goal and an assist, and Steven Stamkos and Pierre-Edouard Bellemare also scored goals for Tampa Bay. Columbus' Mathieu Olivier collected a goal and two assists, Eric Robinson had one of each and Liam Foudy scored his first career NHL regular-season goal. Joonas Korpisalo turned aside 28 shots for the Blue Jackets, while forward Johnny Gaudreau sat out because of a lower-body injury, ending his streak of playing in 349 straight games.

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