(MENAFN) Microsoft is set to reduce the value of its mobile phone unit Nokia by about USD7.6 billion as a result of its calamities in the global smartphone marketplace, Gulf Times reported.
Moreover, the tech giant announced cutting 7,800 jobs, most of which are from its ailing mobile phone division purchased last year from Nokia. This marks the second sackings after 18,000 jobs a year ago.
The company said in a statement that the moves came in part to "restructure the company's phone hardware business to better focus and align resources."
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