Although the Scalado news is inspiring, Nokia is still in the rough as it plans to layoff nearly 10,000 workers by the end of 2013 in a continued restructuring of the company.
In addition, the Finnish firm is planning to close its facilities in Ulm, Germany, Burnaby, Canada and its manufacturing facility in Salo, Finland (Research and Development efforts in Salo will remain) while focusing on their Lumia line of phones including "broadening the price range of Lumia and continuing to differentiate with the Windows Phone platform". Part of the cost savings move has also been the successful divestment of the Vertu luxury line of Nokia phones to EQT VI for a rumored 200 million euros ($260 million).
Finally there are leadership changes as well including the promotion of former Microsoft executive Chris Weber from President of Nokia Inc. (US), and head of Markets, North America to executive vice president of Sales and Marketing, where he will join the leadership team of Nokia. The other changes in Nokia's leadership team can be found here.
So what does all of this amount to? There is a lot going on at Nokia including a dramatic reshaping of the company under CEO Stephen Elop driven mostly by market demands and the recent realignment of the company around Windows Phone. Analysts and equity firms have been downgrading Nokia stock for weeks now and this is their response which equates to massive cutbacks both in terms of people and facilities, potentially saving the company a lot of money during these tight times.
Nokia has previously lost 24% of its market share losing out to Samsung for top manufacturer. With the continued stampede of iPhone and Android, Nokia will be relying on Windows Phone 8 and its increasingly popular Lumia line to save it from financial despair.
Nokia stock is currently trading at $2.79 a share which is near it's 52 week low of $2.61. It will be curious to see how the market responds to these proposed cutbacks and restructuring.
Source: Nokia
The Razer Tomahawk is small in stature, but mighty in power
Razer has a new gaming PC on the scene, and this time it's a compact desktop. The Razer Tomahawk Gaming Desktop uses a variation of the Tomahawk case to bring a modular, powerful PC that's designed to take up very little of your desk space.
Review: Razer's Hammerhead True Wireless Pro deliver THX and ANC for gamers
If you're looking for really good wireless earbuds and also happen to like mobile gaming, the new Razer Hammerhead True Wireless Pro is what you need. Featuring THX audio, ANC, low-latency streaming, and excellent comfort, there's a lot to like. Here's what we think of them after a week of using them with iOS and Android.
Found out when Cyberpunk 2077 releases in your area on PC and console
Cyberpunk 2077 is really almost here, and CD Projekt RED has revealed the exact release times for local areas on PC and console, as well as pre-load information.
Here are the best Cyberpunk 2077 collectibles and merch
Cyberpunk 2077 is a huge game, and is accompanied by a massive pool of collectibles, accessories, and merch for everyone from hardcore collectors to dabbling fans. Here are the best collectibles and merch for Cyberpunk 2077.