Business

Nokia planning to cut 1,800 jobs

Stephen Elop
Image caption Nokia's new chief, Stephen Elop, says the company needs to rethink its place in the market

Finnish mobile phone maker Nokia has said it is to cut 1,800 jobs.

It made the announcement as it reported a net profit of 529m euros ($741m; £471m) for the three months to September, after a loss of 559m euros a year ago.

Nokia, the biggest handset maker in the world, said it had sold 110 million handsets - 2% up from last year.

The company's new boss, Stephen Elop, said Nokia needed to review its place in the industry.

Mr Elop, formerly with Microsoft and the first non-Finn to lead the company, took charge last month,

He said the company was facing "a remarkably disruptive time" and needed to reassess its role.

Nokia warned its market share would shrink.

Sales of its smartphones, the fastest-growing section of the market, grew by 61% from a year ago to 26.5 million units, but the company is facing tough competition from Apple's iPhone and phones using Google's Android operating system.

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