Nokia Siemens Networks has announced a major restructuring, which sees it focusing more sharply on mobile broadband and services -- and cutting around 17,000 jobs worldwide. "We believe that the future of our industry is in mobile broadband and services -- and we aim to be an undisputed leader in these areas," said CEO Rajeev Suri in a company statement. (See NSN to Cut 17,000 Staff and NSN to Cut 17,000 Staff.)
Nokia's share value fell nearly 9 percent on the Helsinki exchange on Tuesday following comments from Pacific Crest analyst James Faucette about lower-than-expected shipments of Nokia's "make-or-break" Windows Phone-base Lumia 800 smartphone, reports The Guardian. Faucette believes the Lumia 800 is on course to sell fewer than 1 million units for the quarter -- initial sales expectations had been set around the 2 million mark. (See Euronews: Crunch Time for Nokia's Lumia.)
There may be some worried expressions at Vodafone this morning, as Reuters reports that the U.K.'s public spending watchdog is to hire some heavyweight outside expertise to examine the deal it struck with the tax authorities -- a deal that has seen Vodafone condemned as a tax dodger in some quarters.