Over the past few months, Nokia has closed several factories in the West and laying off more than 3,000 employees in the latest effort to cut costs. Finnish mobile phone manufacturer will shift the business of manufacturing to Asia and plans to build a factory in Vietnam, a move that is expected to cost approximately $ 300 million according BaoMoi one news organization based in Vietnam. '' The shift assembly of the device to Asia targeted to improve distribution of our time to market. By working more closely with our suppliers, we believe that we will be able to introduce innovations to market faster and ultimately become more competitive,'' said Nokia EVP of Markets Niklas Savander.The company is rumored to be holding a press conference to officially announce the plant's construction project on 23 April. The new plant can create as many as 10,000 new jobs and is expected to produce 45 million handsets by the end of 2014.
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