Nokia, which has an office in Raleigh and earlier this year moved more than 300 jobs to Red Hat, will slash up to 14,000 jobs in a major cost-cutting drive to address a “weaker” market environment, it says in a statement. Here’s what we know.
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Wireless and fixed-network equipment maker Nokia on Thursday reported a fall in second quarter profit as clients especially in North America postponed investments due to a slowdown in economic growth and rising financing costs.
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Red Hat will add some 350 employees from Nokia after the technology giants agreed on a deal in which Red Hat will “tightly integrate” Nokia’s network applications with Red Hat technologies that primarily focus on cloud computing applications.
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Lenovo and Nokia have settled a years-long dispute over patents and agreed to a cross-licensing agreement. As part of the settlement, Lenovo made a financial payment to the Finnish tech giant.
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Wireless network maker Nokia says it is planning to cut up to 10,000 jobs, or over 10% of its staff, to reduce costs as it invests in research and development and tries to cement its role as a key supplier of 5G technology.
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The Finnish telecommunications networks provider Nokia on Thursday reported a smaller than expected drop in profit in the fourth-quarter while it acknowledged it was facing some challenges in the race for 5G networks, particularly in the North American market.
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Lenovo, the world’s top computer seller, faces a legal challenge that could hit its sales efforts in the United States as part of an ongoing legal dispute with Nokia.
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The Trump administration announced plans on Thursday to come up with a strategy for supporting the development of next-generation wireless networks known as “5G.” Meanwhile, Nokia will be cutting thousands of jobs as the move toward 5G continues.
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