Nokia to trim research unit

Jan 12 2005 - 12:39 AM ET | Nokia
Nokia yesterday announced layoffs from its research and development division. Jobs will be lost all over the world but Germany and Finland will see the bulk of nearly 500 layoffs. Nokia plans to bring R&D expenditure down to 9%-10% of net sales by the end of 2006. R&D added up to 13% of net sales in 2003.