Nokia's new plans for the production of phones

Nokia has announced that by the end of the year, it will transfer the production of phones to the continent of Asia, where it can get components from the suppliers in a faster manner.

This strategy by the company has been announced in order to compete in this smartphone era of fast technological advancements and financial pressure.

"With the planned changes, our factories at Komarom, Reynosa and Salo will continue to play an important role serving our smartphone customers. They give us a unique ability to both provide customization and be more responsive to customer needs," said Niklas Savander, Nokia executive vice president, Markets.

"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 Savander. "We recognize the planned changes are difficult for our employees and we are committed to supporting our personnel and their local communities during the transition."

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