Japan loses its appeal to Nokia as the company cuts R&D budget

Nokia's exodus from Japan continues with the recently announced plans to downsize its R&D operations affecting 220 people. Nokia had about 300 employees on payroll in Japan before the announcement. Apparently, Japan is not the only country with the R&D cuts. Denmark and Finland offices will also go through the painful process of reduction in the sign of developed markets being unable to compete with the combination of bright minds and cheap labor that the growing economies offer. Still, Nokia has interests in Japan through its Nokia Siemens and Vertu operations.

Source: Nokia