NOKIA CEO DENIES ACQUISITION TALKS WITH MICROSOFT

Nokia CEO Stephen Elop on Wednesday responded to reports that Nokia had agreed to sell its cell phone business to Microsoft for $19 billion. “We have a great plan for our future, and we’re focused on executing that plan,” Elop told Bloombergin an interview. “The rumors are all over the place. There’s no basis for them.”

According to Bloomberg’s report, Elop claims not only that a deal hasn’t been reached, but that Nokia has never discussed a potential acquisition with Microsoft.

NOKIA CUTTING 4,000 JOBS, MOVING 3,000 MORE IN CONTINUED RESTRUCTURING

Finnish handset giant Nokia continues its restructuring in an effort to trim overhead and return to profitability. The BBC is reporting that the company will cut 4,000 jobs worldwide and jettison an additional 3,000 positions to Accenture — the consulting company set to manage the Symbian mobile operating system going forward. ”With this new focus, we also will face reductions in our workforce,” said Nokia’s CEO, Stephen Elop. ”This is a difficult reality, and we are working closely with our employees and partners to identify long-term re-employment programmes for the talented people of Nokia.” The proposed moves are scheduled to take place sometime in 2012.