Last Finnish Handset factory to close

Nokia has confirmed that it plans to shut down last Finnish Handset factory at Salo, in an effort to cut 3,700 jobs in Finland as a measure of cost-cutting. This shut-down would cause 750 people to loose their job which surprisingly is less than the
expected 850. The factory assembled its last phone on Wednesday.This is would also mean that Nokia can no longer claim that its handsets are 'Made In Finland'.

Nokia has confirmed that the factory at Salo in September 2012. Nokia has also stated that it plans to reduce its workforce by at least 10,000 people globally in order to cut down costs of production.

Nokia is doing everything it can to stay afloat after posting losses for the past few quarters, almost doubling its operating loss in Q2, June.

The company has said that this plan, the shuttering of research and development centers in Germany and Canada, along with the plant in Salo (and all the accompanying job reductions), should save nearly $2 billion by the end of next year.