Nokia has just announced that it will be laying off 10,000 employees by 2013 as a part of cost cutting strategy. Nokia plans to reduce research and development projects. Apart from that Nokia has also announced that it will be paying more attention to its location based Navteq services.
What’s more surprising is that Nokia has quietly acquired Scalado, a Sweden based imaging technology that brings applications and engineering services for the camera phone industry. The company claims to have provided its technology to 1 billion imaging devices.
From the press release:
In Smart Devices, Nokia plans to extend its strategy by broadening the price range of Lumia and continuing to differentiate with the Windows Phone platform, new materials, new technologies and location-based services. In line with this strategy, Nokia today announced the planned acquisition of assets from Sweden-based Scalado, which currently has imaging technology on more than 1 billion devices. This acquisition is aimed at strengthening Nokia’s imaging assets.
However, it’s not clear how much Nokia had to shell out for the technology. Scalado has received $656k in Venture Round funding in 2005. The company has its products available on Google’s Android operating system and Apple’s iOS.
Focus on low end products
Nokia swears its loyalty towards smartphones yet has decided to further develop its Series 40 and Series 30 devices, and invest in key feature phone technologies like the Nokia Browser. It appears that Nokia has realized that it can stay profitable only with its low and mid-range devices.