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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Nokia shuts biggest flagship store in Shanghai

Saturday - Apr 06, 2013, 01:04pm (GMT+5.5)
[+] Text [-]

Nokia shuts biggest flagship store in Shanghai

New Delhi - As a part of its strategy to save costs Finnish mobile phone maker Nokia said that it has shut its flagship store in Shanghai

The company will now instead sell its phones through carriers and retail partners.

The Finnish company confirmed it closed its biggest store for good last week, leaving Helsinki home to the last remaining flagship outlet.

Nokia has also sold and leased back its company headquarters in Espoo, Finland, in an effort to preserve its cash position and concentrate on improving mobile phone sales.

The one-time industry leader has fallen behind in smartphones to Samsung and Apple, while also facing tough competition from Asian rivals at the lower end of the mobile phone market.


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