Nokia halts using mobile phone subcontractors to cut costs
The world’s top mobile phone maker, Nokia has announced via a spokeswoman that Nokia has stopped using subcontractors in the assembly of Nokia phones reports Reuters.
The reason for this is due to “faltering demand “for mobile phones. The spokeswoman went on to state that although Nokia has halted using subcontractors in engine making, Nokia was still using them (subcontractors) in other areas such as logistics and packaging.
Nokia’s main subcontractors have been China’s BYD, Foxconn, Elcoteq, and Jabil Circuit. Back in January Nokia announced it aimed to reduce annual costs of more than â‚¬700 million at its key handset unit alone to counter the drop in demand.