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Nokia’s Q3 Profit Beats Estimates, Company Plans To Cut 1,800 Jobs

October 21st, 2010 10:47 admin Leave a comment Go to comments

Nokia this morning reported a third-quarter profit that handily beat analysts’ estimates. The company also said it would cut 1,800 jobs worldwide, sending shares soaring.

In the first results since the company named Stephen Elop CEO, Nokia reported net income of 529 million euros from a loss of 559 million euros a year earlier. Sales rose to 10.3 billion euros from 9.81 billion euros as the company shipped some 110.4 million devices.

In a separate statement, Nokia said it will henceforth focus solely on the Qt framework framework and support for HTML5. Nokia says the decision to focus on Qt as the sole application development framework will ensure that apps will continue to be compatible with future evolutions of Symbian as well as upcoming MeeGo products.

(More coming)

Source: Nokia’s Q3 Profit Beats Estimates, Company Plans To Cut 1,800 Jobs

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