News: Nokia to cut jobs and sell Vertu to acquire Scaldo

Nokia CEO, Stephen Elop just announced the company’s plan to drop out 10,000 jobs globally by the end of 2013 as well as some management changes. Out of these 10,000 3,700 will be from Finland which is about 25% of the employees there. Moreover, they plan to shut down their plants in Salo, Ulm and Burnaby. However, R&D work will be continued in Salo. It also announced to sell their luxury phone division, Vertu to EQT VI, a European private equity firm.

The company now plans to invest strongly in products and experiences that their smartphones (specifically Lumia) stand out and extend its location-based platform to new industries. For this, Nokia intends to reduce non-IFRS operating expenses in Devices & Services so that they can improve the competitiveness and profitability of its feature phone business as soon as possible.

Adding to this, Nokia today announced its intentions to acquire the mobile imaging Swedish firm, Scaldo. Nokia will acquire all the developers and technology of the company to which has been related to Nokia in the past to make it even better.

Nokia plans to integrate the technology into their upcoming Lumia line up. Scalado is well known for innovations like Remove which lets you delete particular unwanted objects from pictures. Recent update stating that the Scaldo will remain as a individual firm after the deal and will serve their clients’ existing agreements.

Though Nokia wins the league but with Scalado’s technology along with Nokia’s PureView they could change the entire camera phone market.