The official website of Nokia recently released a poster announcing that the new Nokia product will be launched online on April 8, 2021. The poster shows a man's back in the woods, but he doesn't detect any device. The theme of the conference is "Keep faith in love". We expect the company to release a variety of products.
Nokia recently signed a standard video patent licensing agreement with Samsung. According to Nokia, it will license patents on a fair, reasonable and non-discriminatory basis. This will allow other companies to use the accumulated results of patenting at a lower cost.
The Nokia G10 mobile phone was previously certified in Malaysia under the codename “TA-1334”. This phone is expected to use a 6,4-inch screen and a 48-megapixel rear quad camera. Other specifications of this device are similar to Nokia 5.4.
In two years, Nokia has laid off more than 10 employees - China was hit the hardest
Unlike Swedish rival Ericsson, Nokia did not disclose how many employees it had in its quarterly financial reports. Last year, it masked a 500 million euro ($597 million) annual decline in Nokia's total labor costs. However, the latest annual report published by Nokia shows that nearly 5000 jobs were cut in 2019, with more than 6000 jobs gone last year.
The report shows that the number of layoffs at Nokia has reached 11044, bringing Nokia's average workforce to 2020 in 92. This means that its total workforce is down by 039% in just two years. A regional analysis shows that employment rates have declined worldwide, but China has experienced the largest decline. The number of workers in China fell 11% to 12 last year, down nearly 13 from 749.
The company's headcount in the Americas also declined significantly, down 9% in 2020 and shedding more than 2800 positions since 2018.
Nokia has not said anything about large-scale layoffs
The company did not mention cost cutting in the report. "In recent years, as we have adjusted our strategy in response to business goals and operations, our workforce has fluctuated." This is the company's only statement regarding adjustments. No form of release is mentioned here.
The good news for investors is that Nokia's operating profit margin almost doubled to 4% in 2020, even as sales fell 6% to around 21,9 billion euros ($26,1 billion). Two years ago, the Finnish manufacturer had an operating loss of 59 million euros ($70 million). By 2020, it had generated at least 885 million euros ($1,1 billion) in revenue.
