Nokia

Nokia staff to go on hunger strike on Monday

Nokia staff to go on hunger strike on Monday

Nokia employees have threatened that they would have to resort to a hunger strike in case the handset maker turns the Sriperumbudur, Chennai-based factory into a contract manufacturer or cuts output.

Nokia India has long been entangled in Rs 21,000-crore tax dispute with Indian tax authorities that forced the income-tax department to freeze the Chennai factory. On March 14, the Supreme Court upheld a lower court verdict over the manufacturing facility and ordered the company to give Rs 3,500 crore guarantee before transferring the facility to Microsoft.

Nokia files writ petition against Tamil Nadu govt.’s Rs 2,400cr tax demand

Nokia files writ petition against Tamil Nadu govt.’s Rs 2,400cr tax demand

Nokia India on Friday refuted Tamil Nadu government's allegation that the handset maker avoided taxes on handsets sold domestically by masking them as exports.

Filing a writ petition with the Madras High Court, Nokia India revealed that Tamil Nadu's income tax department had asked it to pay Rs 2,400 crore in tax, claiming that that handsets manufactured by the company in Chennai were not exported and were instead sold in the domestic market.

India-born Rajeev Suri will become CEO of Nokia Corp: media reports

India-born Rajeev Suri will become CEO of Nokia Corp: media reports

India-born Rajeev Suri, the current head of Nokia's telecom equipment business, will be elevated to the top position of global chief executive officer (CEO) of Nokia Corporation, emerging media reported.

Citing unnamed sources, Finnish media reported that Mr. Suri might be made the CEO of Nokia Corp by March or April this year, when Redmond-based software giant Microsoft Corp will likely conclude the acquisition of the Finnish firm's handset business.

The reports also say that an official announcement regarding the same could be made as early as the end of this month.

Nokia pulls out HERE Maps from Apple’s App Store

Nokia pulls out HERE Maps from Apple’s App Store

Finnish handset manufacturer Nokia Corp has reportedly pulled out its mapping app HERE from Apple's App Store, citing some compatibility issues.

While Nokia has yet to disclose details about the withdrawing of the app, reports suggest that HERE Maps app was pulled as the app had been experiencing compatibility issues after Apple upgraded to iOS 7.

The app has been well-known for providing access to Nokia's cloud-based mapping service, which provides various views, satellite maps and information about public transport and live traffic.

Nokia will have to pay total tax liability: Finance Ministry

Nokia will have to pay total tax liability: Finance Ministry

Finnish handset maker Nokia will have to clear its total tax liability, a senior finance ministry official said.

Nokia recently offered to pay around Rs 2,250 crore to income tax (I-T) department towards its tax liability estimated at around Rs 6,500 crore. But, the I-T department rejected the offer, saying it was unacceptable.

A few days back, Finland's Foreign Minister Erkki Tuomioja also urged the Indian government to resolve the tax dispute before 12th of December so that Nokia's Indian assets could also be transferred to Microsoft as per the two companies' US$7.2 billion deal.

Delhi HC asks tax dept to take a decision on Nokia’s offer

Delhi HC asks tax dept to take a decision on Nokia’s offer

The Delhi High Court on Thursday asked the Income Tax (IT) department to take a decision on Nokia's offer to pay a minimum deposit of Rs 2,250 crore towards its tax liability.

A bench of Justice Sanjiv Khanna and Justice Sanjeev Sachdeva said that the IT department could say yes or no on the offer but it had to take a decision.

The HC bench said, "You (IT department) have to take a decision. Say yes or no. If it is acceptable say yes, if not, say no. Either way but you can't say we will not decide."

Freeze of Indian assets won’t affect Microsoft deal: Nokia

Freeze of Indian assets won’t affect Microsoft deal: Nokia

Nokia claimed on Monday that the freeze of its assets by Indian authorities would not affect its deal with Microsoft as it has sufficient assets in the Asian country to meet its tax obligations.

In early September, beleaguered Finnish handset maker hit a deal to sell its phone business to Redmond-based tech giant Microsoft. But, the Indian tax authorities' last week's move of freezing Nokia's assets prompted many to predict that it would prevent transfer assets to a new owner.

Nokia may exit India

Nokia may exit India

Finnish handset maker Nokia has cautioned that it could exit India and start exporting products from India has become the "least favourable" market for it.

In a letter written to the Ministry of Commerce & Industry, Nokia also said that the political risk of operating in the Indian market might impact its future investment decisions.

In the hard-worded letter dated June 19, 2013, Nokia said, "India has suddenly become the least favourable market."

VP Shivakumar Renounces Nokia

VP Shivakumar Renounces Nokia

According to a recent report, D Shivakumar, senior Vice-President for Emerging Markets of Nokia, including India, has resigned from the company.

The report said that the development is being seen against the background of mobile maker. The Finnish handset maker has been receiving more than Rs. 2,000 crore worth of demand notice from Indian tax authorities. The same is for alleged evasion of taxes in the nation in its business transactions.

Nokia Alleged for Taxes’ Evasion, Delhi High Court Grants Stay

Nokia Alleged for Taxes’ Evasion, Delhi High Court Grants Stay

Nokia was given a Rs. 2,000 crore legal notice by the Income Tax Department after the mobile manufacturing firm was held responsible for declining taxes in its business transactions in the country. Nokia has responded to the same by filing a petition.

In the petition, it has challenged the orders and the Delhi High Court has granted a temporary stay to the company on demand. On March 21, the income tax department asked the company to submit Rs. 2,000 crore within a week.