Can the Lumia phone save Nokia?
The company announced plans Thursday to sell off its Vertu luxury handset business and slash 10,000 jobs by the end of next year, or about one fifth of its global workforce, in an effort to get costs in line.
Yet, amid all of that, the company also revealed that it is investing more resources in the Lumia phone.
In a press release, Nokia announced plans to acquire the assets from Scalado, a Swedish-based company that produces imaging technology for mobile devices. Nokia's goal is to continue to strengthen the Lumia's position in the smartphone market.
From the press release (via TheNextWeb):
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.