Nokia to shed 4,000 jobs

Finnish mobile phone maker Nokia said it would cut 4,000 jobs in Hungary, Finland and Mexico as it concentrated its production in Asia. "Shifting device assembly to Asia is targeted at improving our time to market. By working more closely with our suppliers, we believe that we will be able to introduce innovations into the market more quickly and ultimately be more competitive," said Niklas Savander, executive vice president of Nokia Markets. Finnish newspaper Helsingen Sonomat reported Wednesday that the firm planned to cut 1,000 jobs in Salo, Finland. Another 3,000 jobs would be cut from manufacturing facilities in Hungary and Mexico. The jobs would be cut by the end of 2012, the newspaper said.