Nokia likely to cut up to 14,000 jobs as global sales decline 20% in Sep quarter; India biz doubles

New Delhi: Finnish telecom gear maker Nokia is planning to cut up to 14,000 jobs to reduce cost as its global sales declined 20 per cent to 4,928 million euro in the September quarter.

The company’s business in India more than doubled to 567 million euro (Rs 4,984 crore) during the quarter from 281 million euro (about Rs 2,470 crore) in the year-ago period.

Boost in Indian sales saved the company from the reduced spending in North America and other geographies.

“In mobile networks, net sales declined 19 per cent as we saw some moderation in the pace of 5G deployment in India, which meant the growth was no longer enough to offset the slowdown in North America,” Nokia President and CEO Pekka Lundmark said in a statement.