Nokia which is a Finnish phone maker and derives the name from a river flowing in Finland is going through a tough time as it plans to cut 4,000 more jobs at its plants in Finland, Hungary and Mexico as it seeks to cut costs by moving smartphone assembly work to Asia.
This is being attributed to shift and job cuts are being undertaken in phases through this year. This decision has been taken post closure of operations at Romania plant last September.
Analysis of Nokia results shows that it has reported a 73% fall in fourth-quarter earnings after sales of its new Windows Phones failed to dent the dominance of Apple Inc's iPhone or compensate for diving sales of its own old smartphones.
Thus the moral of the whole story is that one can not be complacent in business and have to be innovative in approach. If Nokia fails, it will be because of not listening to people’s demand.