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Nokia Corporation Message Board

inwestr 12 posts  |  Last Activity: Mar 19, 2014 10:53 AM Member since: Nov 23, 2008
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  • The Finnish mobile maker Nokia has told its workers at the Sriperumbudur factory, near Chennai, that it might have to reduce number of people in the factory, which the Union has strongly objected. The Union has said that they will take any steps to protect their employment of around 8,000 people, 50% of which are women, who are working in the factory.

    On Wednesday, the Union and the management had an hour-long meeting in Chennai, to discuss the fate of the factory and the employees, which was supposed to get transferred to Microsoft before March 31 as part of the Euro 5.44 billion deal.

    However, the Apex Court last Friday ordered Nokia to give a Rs 3,500 crore guarantee before it transfers one of its biggest plants globally, which is located at Sriperumbudur, around 40 kms from Chennai, to Microsoft. The Order upheld a lower court verdict over the plant, which is the subject of a income tax dispute, and had been challenged by the Finnish company.

    M Saravana Kumar, president, Nokia India Thozhilalar Sangham, who represented the workers in the meeting said "the management said that they have not got any update from Microsoft or their seniors on the deals. They also said they may reduce number of workers in the factory since order flow has slowed down".

    He noted, three months back the company reduced number of shifts from three to two.

    Nokia officials and spokesperson did not comment on any of the issues, which was mentioned by the Union.

    Kumar said, "we clearly told them there is no question of cutting down the jobs and will take any steps to protect our jobs".

    The Union also planning to approach the State Government requesting them to interfere in the matter, as labour is related to State subject.

    Sources in the company confirmed that the number of shifts was reduced to two, but it was not related to slowdown it was more to balance the operations between the plants, across the World. During this time the company has started Vietnam plant so it is a question of balancing the production.

    Nokia's factory currently employees around 8,000 people directly and another 25000 indirectly. So far, since its inspection, the factory produced 800 million handsets.

  • ChinaCache signs MoU with NSN to strengthen mobile capabilities in China

    Nokia Solutions and Networks, or NSN, a wholly owned subsidiary of Nokia (NOK), and ChinaCache International (CCIH) announced that they have signed a Memorandum of Understanding, or MoU, to incorporate ChinaCache's content delivery network, or CDN, technology into NSN's Liquid Applications solution. The collaboration is designed to enable content to be delivered directly from the LTE base station, which translates into faster data throughput and a whole new level of personalization for superior customer experience. ChinaCache is the leading total solutions provider of Internet content and application delivery services in China.The intent of the collaboration is to further enhance Liquid Applications and expand ChinaCache's competencies in mobile Internet content delivery. Liquid Applications will enable innovative features for ChinaCache's current technology, such as improved location capabilities, awareness of user behavior, and real-time adaptation to network conditions.

  • Per the WSJ:

    Network equipment vendor Nokia Solutions and Networks said Wednesday it has been selected by Taiwan Mobile Co. Ltd. ( Taiwan Mobile Co., Ltd.) as sole supplier for its LTE-Advanced network.

    NSN is now the sole supplier of Taiwan Mobile's 2G, 3G and 4G networks.

  • Reply to

    Curious how Nokia will handle India

    by thearizonacardinals Mar 17, 2014 10:35 AM
    inwestr inwestr Mar 17, 2014 12:29 PM Flag

    Nokia will hang onto the plant and manufacture for MSFT--at a profit for a year. At the end of the year, MSFT has shifted manufacturing to Asia, and Nokia walks away. India is left with the plant, which they "gift" to one of their local manufacturer (read, sell under the table).

  • From one of the India tax articles:

    "Nokia counsel said that the Microsoft global deal will be closed within 20 days. Even some bureaucratic hitches in China have been resolved. If the deal is stuck in India, it will go without Chennai plant manufacturing handset for the Finnish parent."

  • The Supreme Court today said that it wants to find some sort of an amicable solution that is acceptable to both Nokia and the Income Tax (I-T) department and that it wants to protect the interests of both the parties. For this, Nokia has been asked to submit a report of valuation of its India entities because the Supreme Court wants to make sure that even after the Microsoft deal goes through , there is sufficient amount that can secure the interests of the I-T department. Once Nokia comes back with the valuations, an upfront amount they said approximately would be in the range of Rs 2700-3000 crore for its India operations, a view is going to be taken up by the Supreme Court. The I-T department reiterated that there is at least tax liability of Rs 10000 crore against Nokia and that the company must be asked to submit a bank guarantee and not just an undertaking. It also wanted Nokia Finland to submit an assurance. To which the Supreme Court said that Nokia Finland, which is a holding company cannot be forced to protect the interest of the subsidiary. The apex court also pointed out that Rs 3500 crore, which was paid by Nokia India to Nokia Finland by way of dividends cannot be brought back simply because it is the right of the subsidiary to pay dividend to the holding company. RELATED NEWS

  • Reply to

    Any Thoughts on India SC Tomorrow

    by jomike05 Mar 12, 2014 10:38 AM
    inwestr inwestr Mar 12, 2014 11:13 AM Flag

    I imagine MSFT really does not want the India plant. Too easy to have phones built in Asia by multiple outsourcers, and who needs the hassle that India is proving to be?

  • Ericsson and NSN Win Saudi Network Upgrade Contracts

    Published on: 28th Feb 2014

    By: Ian Mansfield

    Saudi Arabia's Etihad Etisalat Mobily says that it has secured two export guarantees worth SAR 2.1 billion US$560 million to support purchases of network equipment from Ericsson and NSN.

    In a stock market filing, Mobily said that it had signed two ECA financing agreements, with the Swedish Export Credits Guarantee Board (EKN) for SAR1.05 billion and the official Export Credit Agency of Finland (Finnvera), also for SAR 1.05 billion.

    The tenor of both facilities is 10 years, and shall be utilized over a period of 1.5 years. Both loans will be repaid in 17 semi-annual equal installments, and have been priced at a fixed rate of 2.4% per annum. The financing is being arranged on Shariah-compliant basis.

    NSN has already confirmed that it was a recipient of the vendor financing guarantees, although Ericsson hasn't said anything yet.

  • Reply to

    new contract

    by insiderguy_200077 Feb 26, 2014 7:25 AM
    inwestr inwestr Feb 26, 2014 7:54 AM Flag

    VODAFONE GROUP : NSN Signs 5 Year Network Upgrade Pact With Vodafone
    02/26/2014 | 07:21am US/Eastern

    By Dominic Chopping

    Network equipment vendor Nokia Solutions and Networks said Wednesday it has been awarded a five-year network upgrade contract with Vodafone PLC. NSN will modernize and expand its existing radio network.

  • Finland's Elisa Gets 300Mbsp Download Speeds Out of an LTE-A Network

    Published on: 11th Feb 2014

    ­Finnish mobile network operator, Elisa has carried out LTE-A tests that demonstrated peak download speeds of up to 300Mbps over live network.

    The tests were carried out with equipment from NSN and Broadcom.

    The end-to-end test was completed on Elisa's commercial LTE network in Finland with Broadcom's LTE-A Cat 6 technology using inter-band carrier aggregation and NSN's Flexi Multiradio 10 Base Station. The test was performed by aggregating two 20 MHz channels in the 1800 MHz band (LTE Band 3) and the 2600 MHz band (LTE Band 7) to reach speeds of 300 Mbps.

    "This live network demonstration with 300 Mbps mobile data speed is a great example of possibilities of the mobile technology. It's a major step towards delivering the best possible experience to our customers. In addition to the extremely high maximum data speeds, it will also offer much more capacity for mobile broadband customers," said Dr Eetu Prieur, Head of Access Networks from Elisa.

    Just a few weeks ago Elisa awarded a contract to NSN to be the sole supplier of its LTE network rollout over the next five years.

  • Nokia management to meet with JPMorgan

    Meetings to be held in Boston on February 4 and in New York in February 5 hosted by JPMorgan.

  • siliconangle /blog/2014/01/31/breaking-news-google-svp-of-chrome-apps-sundar-pichai-now-front-runner-for-microsoft-ceo-job/

NOK
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