NO MORE: Nokia Corp. plans to stop assembling cellphones in Europe by the end of the year.
BEHIND THE DECISION: Nokia is revamping its global manufacturing operations to compete better with the likes of Apple Inc.’s iPhone and handsets using Google Inc.’s Android operating software. Asia is where most component suppliers are based, and moving operations there could help Nokia reach markets faster.
MORE JOB CUTS: Nokia will cut another 4,000 jobs at three plants in Finland, Mexico and Hungary this year, though it won’t close them entirely. The cuts come on top of nearly 10,000 layoffs announced last year.