Nokia's Multimedia Unit to Streamline Its Research and Development Activities
Posted on: Tuesday, 11 January 2005, 06:00 CST
ESPOO, Finland, January 11 /PRNewswire-FirstCall/ -- Nokia's Multimedia Business Group will streamline its global research and development activities. This activity reflects Nokia's recently announced aims to increase the efficiency of research and development work across the company. Nokia has earlier set a target to bring overall Nokia R&D expenditure down to 9% - 10% of net sales by the end of 2006.
As a part of the activity, Multimedia product roadmaps have been streamlined and cross-functional synergies have been identified. Streamlining has a global scope but the downsizing is mainly expected to materialize in Germany and Finland. The number of personnel reductions will be decided after negotiations with employee representatives are finalized.
"Reducing personnel is always a very tough decision to make. However, the planned streamlining of our R&D network will enable us to grow our business in a profitable way without sacrificing future business potential," said Anssi Vanjoki, Executive Vice President, Multimedia, Nokia. "Our multimedia strategy remains unchanged. We see very strong momentum in our smart imaging business and while games, music and media are still in a more early development phase, we continue to see great potential also in these areas."
The planned reductions are expected to materialize gradually during 2005. The negotiation process will aim to find alternative solutions and assignments for as many employees as possible within Nokia.
About Nokia
Nokia is a world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia connects people to each other and the information that matters to them with easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses. Nokia provides equipment, solutions and services for network operators and corporations. http://www.nokia.com/.
Nokia
CONTACT: Nokia, Multimedia Communications, Tel.: +358-7180-45667; NokiaCommunications, Tel: +358-7180-34900
Source: PRNewswire-FirstCall
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