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Euronews: NSN Restructures, Cuts 17,000 Jobs

Nokia Networks , Nokia Corp. (NYSE: NOK), Vodafone Group plc (NYSE: VOD) and Telefónica SA (NYSE: TEF) are the big fish making some waves in today's EMEA telecom news pond.

  • 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.

  • The European Commission 's vice president for competition, Joaquin Almunia, has hinted that a full-scale investigation of how companies may be using intellectual property rights legislation unfairly to thwart rivals and distort competition could be on the cards. The names Apple Inc. (Nasdaq: AAPL) and Samsung Corp. spring to mind, but Motorola Mobility LLC and others could also be in the frame. (See EC Hints at Smartphone Patent Probe .)

  • Matthew Key, the CEO of Telefónica SA (NYSE: TEF)'s recently created Digital unit, has suggested in a video interview with Bloomberg that the operator may be looking at making Internet-related acquisitions, expressing a desire to "play a broader role in the value chain" and an inclination to "invest in the right places that are going to continue to expand." (See Telefonica Holds Key to Digital Model and Telefonica Restructures, Creates New Units.)

  • U.S. networking giant Cisco Systems Inc. (Nasdaq: CSCO) plans to open a network innovation center in Skolkovo, the Russian high-tech hub that is already working with Nokia Networks . Video analysis technology will be the initial focus of the center, says the Ria Novosti website. (See NSN, Skolkovo Foundation to Innovate.)

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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