Foxconn South Korean company cuts nearly 90%: Nokia shares fall

Nokia's market share continues to fall and the foundry's giant Sunyan. With the global market share of Nokia handsets of the biggest customers falling, the mobile foundry giant Foxconn International (02038.HK) also has to adjust its global production base layout. A few days ago, South Korea's central Daily reported that Foxconn's international South Korean company recently laid off nearly 90% of its workers, leaving only a few to open up new business. Established in 2006, Foxconn International Korea is the main function of the development of CDMA handsets for the Nokia North American market.　　Last October, Nokia announced a halt to its CDMA operations, leading to a nosedive in the performance of Foxconn's international South Korean company. "Fuji Kang International Korea Company's phased mission has been completed. Foxconn International's spokesman, Dong Wenxin, has confirmed to Taiwanese media that Foxconn's international South Korean company is indeed laying off workers.　　It is reported that Foxconn International South Korean company employees have 280, this time will be reduced more than 240 people. ZTE Mobile phone business headquarters in the United States, said the head of the U.S. business, CDMA in the North American telecommunications market share of about 45%, nearly two years due to the rise of CDMA version of the iphone and Android phones, the North American smartphone users increased by about 60%.　　But Nokia's rapid decline in market share as a result of the launch of a new CDMA mobile phone has slowed. The U.S. surveillance agency comscore released last October to this January, the United States mobile phone market data showed that Motorola ranked first in 22.9% of the market share, LG, Samsung, respectively, 21.7% and 21.1% of the market share, the U.S. mobile phone market in the second and third, Nokia's market share was only 9.1%, ranking fourth.　　But in the smartphone market, Nokia is out of the top five.　　In the first quarter of this year, Nokia's global sales share fell 5.5% per cent to 25%, its lowest level since 1997, according to a new Gartner study. The loss of Nokia's handset business has also led to the shrinking of its outsourced phone orders, which directly affect the performance of Foxconn international and its placement in the global marketplace. The success of Foxconn's international past is: where is the customer market, and where is Foxconn International's mobile phone factory? Now that customer business is shrinking, the global layout of Foxconn International will change.　　As a result, Foxconn's international South Korean company has laid off nearly 90% of its disposable jobs, just as part of its global layout adjustment.　　In fact, the shrinking global share of Nokia, the handset giant, and the shift in OEM orders have made Foxconn International's first annual loss since its listing in Hong Kong in 2010. According to the Foxconn International 2010 Annual report, the company's top three customers shrank 10%, 3% and 40% respectively last year, with orders shrinking 10% of their biggest customers Nokia, which directly led to the 2010 annual revenue decline of Foxconn international in the United States. In addition, Foxconn International last year, the Americas income of only 1.608 billion U.S. dollars, the year-on-year decrease of 24%, profitAbility to fall 46% year-on-year. "Mobile ecosystem due to the entry of new competitors, leading to a sharp change in the market, traditional handset manufacturers and the company are facing serious challenges."　　Samuel, chairman and chief executive of Foxconn International, said in his earnings reports that the global OEM brand to seize the market share increasingly fierce, the global mobile phone EMS market is struggling, and the company's products create price pressure. In fact, Samuel said the new competitor is the Apple iphone, and the global OEM brand is the ZTE and Huawei represented by the emerging power of Chinese mobile phones. It is also the root cause of the company's rival BYD Electronics (00285.HK), which has lost money on Nokia's phone orders, but has continued to grow rapidly because of ZTE and Huawei's mobile phone orders.