Nokia (NYSE: NOK) has trimmed its workforce by around 1,000 and is cutting back on investing in new content and services. But it’s no wonder — the company is facing steep competition on all fronts, ranging from its traditionally strong handset division to its telecom infrastructure division.
Still, Nokia has two big launches coming up, so not all bets are off. Look forward to the Ovi Store, which will compete with Apple’s App Store, starting this month, and also its flagship N97 device coming to North America this summer.
Here’s a round-up of what Nokia is facing from a number of viewpoints:
— Mobile phones: Nokia continues to be the largest global handset manufacturer, however, its marketshare dropped in the first quarter to 36.2 percent from 39.1 percent in the year-ago period, according to a report published by Strategy Analytics yesterday. Likewise, Nokia continues to retain the lion
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