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March 5, 2021
BUSINESS

Nokia cuts jobs, to take on Apple

Nokia Oyj will cut up to 360 jobs at Internet services unit as it combines offerings into its new Ovi Store, the world’s top cellphone maker said on Tuesday. Nokia’s new online software and multimedia store will challenge Apple’s hugely successful App Store from May.“We are moving into Ovi, into a platform strategy,” Tero Ojanpera, head of the entertainment and communities operations at Nokia, told Reuters in an interview on the sidelines of Nokia developer summit in Monaco. Nokia, which made its first ever quarterly pretax loss in January-March, is cutting annual costs at its key handset unit alone by more than EUR 700 M (USD 911 M) to counter plunging demand. (Reuters)

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