Nokia Says DTV Market Slow

"The global digital TV market has developed substantially slower than expected, especially in major markets," according to a press release (opens in new tab) issued Friday by Nokia. Nokia said the DTV market, "is affected by technology fragmentation and heavy price competition, resulting in an unprofitable business model." Nokia said it plans to streamline its digital TV receive business "due to slow market uptake."

Nokia plans to reduce its workforce by approximately 140 employees in the Home Communications unit, however, it said the sales, marketing and customer support of Nokia digital TV receivers will continue as before.