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Nokia Corporation (ADR) (NOK) News: Worldwide Job Cuts, Indian Plant Closed, Dismissed Tax Application & More

Editor’s Note: Related tickers: Nokia Corporation (ADR) (NYSE:NOK), Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL)

Nokia Corporation NSN Shuts Kolkata Telecom Factory Aimed to Cut 17,000 jobs Internationally (CrazyJoys)
Nokia Corporation (ADR) (NYSE:NOK) Siemens Networks has provided a deadline of July 31 to shut down its telecom factory in Kolkata, due to decreasing profits and Nokia Siemens’s refocus on mobile broadband. The telecom factory in Kolkata is a mutual joint venture between Siemens of Germany and Finland’s Nokia Corporation (ADR) (NYSE:NOK). The company currently has 65 permanent staffers, out of which 17 has reached a final agreement with the firm including six decide to be transferred within the organization. And 11 selected voluntary separation scheme (VSS) package announced last year.

Nokia Corporation (ADR) (NYSE:NOK)

Nokia Corporation Tax Appeal Dismissed by the Indian Authorities (PRCarbon)
Nokia Corporation (ADR) (NYSE:NOK)’s appeal against an income tax bill of 20.8 billion Indian rupees ($370 million) has been dismissed by the Indian authorities on May 31. In one of several tax disputes involving foreign companies in India with the tax demand for five years starting from 2006/07, was presented in March by Nokia’s India unit. Nokia said it will take the case back to the Delhi High Court, which referred the case to the tax authorities’ appeals division previously. Nokia believed Indian laws and a bilateral tax treaty between India and Finland was in full compliance. India has given top spot slot to Samsung, which is crucial for Nokia Corporation (ADR) (NYSE:NOK) to hold on to its global market share.

Nokia Corporation (ADR) is a BUY as Microsoft Corporation (MSFT) sees Windows Phone market share double (Dofonline)
Shares in Nokia Corporation (ADR) (NYSE:NOK) are a Buy with analysts at Liberum Capital who have today reiterated their bullish stance on the stock on the back of an increased take-up of Windows Phone amongst consumers. Microsoft Corporation (NASDAQ:MSFT) has seen the market share of Windows Phone almost double. …”Germany, Italy and Spain also showed an increase, with Italian market share rising to double digits at 10.5%. Windows Phone also showed an increase in market share in the US, from 3.8% in 2012 to 5.6% this year. These market share jumps clearly signal the increasing momentum behind both the operating system as well as Nokia Corporation (ADR) (NYSE:NOK)’s new range of Lumia phones.

Nokia MD P Balaji says 3G and 2G driven mobile Internet key to phone biz (TelecomLead)
Nokia India MD P Balaji says mobile Internet – driven by 3G and 2G – are key to the company’s phone business growth in India. That’s why customers looking for selecting Nokia Corporation (ADR) (NYSE:NOK)’s feature phones and smartphones range can choose a number of data plans – 2G and 3G — from a telecom operator. Nokia Corporation (ADR) (NYSE:NOK) India MD says demand for mobile phones with Internet access is growing across the country. “It is happening in both urban and rural India. The main drivers are its ability to connect with cricket, entertainment and social media on the move. We see lots of mainstream users picking up such phones with data access,” Balaji said. This is considered as a major shift in mobile data consumption in India. For Nokia India, mainstream user means a mason or carpenter or a casual worker who want to use Internet from his mobile. Earlier, main demand for 2G and 3G access came from the youth population.

Samsung Galaxy S4 Vs Nokia Lumia 921: Microsoft Rolls Out An Attack on Samsung (TechThirsty)
In a bid to outdo its competitors and promote its products, Microsoft Corporation (NASDAQ:MSFT) has rolled out an attack ad to inform consumers as to why they should opt for Microsoft Corporation (NASDAQ:MSFT) devices instead of Apple Inc. (NASDAQ:AAPL), Samsung or Nokia Corporation (ADR) (NYSE:NOK). Interesting yet misleading, the ads are the firm’s latest approach to stay at the peak in the wars of mobile phones. Considering the latest, the ad’s main focus is to weigh up the entry-level Nokia Lumia 521 as the lead when compared with the top-most 64 GB Samsung Galaxy S4 off-contract. The ad has an actor, publicizing that the Nokia Corporation (ADR) (NYSE:NOK) Lumia 521 was bought for $149 while the Samsung Galaxy S4 for $750, off-contract, which can help consumers save $600 by opting for the former. He then says that consumers could go shopping at the Microsoft Corporation (NASDAQ:MSFT) store with that saved money.