The German government is demanding that Nokia pay back $4 billion euros worth of subsidies after the company announced plans to close its factory in Bochum, Germany. This was the amount of money the German Research Ministry gave to Nokia to fund four separate research projects. Nokia has announced the closure of its Bochum plant citing costs and is moving production to Romania.
In other Nokia news:
Nokia said it has paid about $1 billion for full access to Qualcomm’s extensive patents and the two companies are still scheduled to meet in a Delaware Court in July.
Nokia will sell $2 billion of mobile phones to China Postel this year, down from the $2.5 billion deal signed in 2007.
Analysts conclude that the weaker demand for high-end 3G phones will likely hurt the Finnish firm’s selling price.