Nokia’s woes continue as online stores in parts of Europe set to close

By Posted 15 Jun 2011, 10:39

Nokia has been the center of speculation that it could be taken over recently, which the CEO of the company quickly denied. The company has been having a tough time of it lately as it sees market share shrinking, and now Nokia’s woes continue with the news that online stores are to close in parts of Europe.

Online stores in The Netherlands, UK, France and Spain will close with the one in the UK having a closure date of June 30. According to an article on Pocket-lint by Paul Lamkin the closures are partly down to the subsidies the networks give on the handsets.

Financial results recently have also been disappointing with shares dropping by fifteen percent following predictions for Q2 in 2011. The company has also been cost cutting with thousands of jobs recently slashed, but it is hoping fortunes can soon be turned around with the Windows Phone 7 handset coming later this year.

The news won’t be too surprising to some people as the carriers can offer heavily discounted handsets by signing customers up to lengthy contracts, and comes just days after the company came to an agreement with Apple of its ongoing court case.

Do you think Nokia can turn things around?