Nokia To Suspend Handset Production At Its Chennai Plant From November 1
Advertisement
Advertisement
Following termination of mobile purchase agreement by "Microsoft has informed Nokia that it will be terminating the manufacturing services defined in the agreement with effect from 1 November 2014. In absence of further orders from Microsoft, Nokia will suspend handset production at the Sriperumbudur facility from 1st November," Nokia said in a statement.
Nokia had started production at this plant in January 2006, and used to export the products manufactured at this plant to the Middle East, Africa, Asia, Australia and New Zealand.
The Tamil Nadu government had served a Rs-2,400 crore notice to Nokia, saying that the firm had also sold products in the domestic market instead of shipping them overseas.
In another tax case, the Supreme Court had ordered Nokia India to submit a Rs-3,500 crore guarantee before transferring the plant to Microsoft.
Advertisement
"Unfortunately, the continuing asset freeze imposed by the tax department prevents Nokia from exploring potential opportunities for the transfer of the factory to a successor to support the long term viability of the established, fully functional electronics manufacturing ecosystem," the company said.
Advertisement
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- India not benefiting from democratic dividend; young have a Kohli mentality, says Raghuram Rajan
- Indo-Gangetic Plains, home to half the Indian population, to soon become hotspot of extreme climate events: study
- 7 Vegetables you shouldn’t peel before eating to get the most nutrients
- Gut check: 10 High-fiber foods to add to your diet to support digestive balance
- 10 Foods that can harm Your bone and joint health
- 6 Lesser-known places to visit near Mussoorie