HELSINKI (Reuters) - The Finnish telecoms equipment maker Nokia (HE:NOKIA) lowered its cost savings target to 500 million euros ($557 million) from the previous 700 million by the end of 2020 to invest more in 5G technology and digitalization, it said on Tuesday.

The company also it said it expected to cut some 180 jobs in Finland this year, excluding its 5G product development in Oulu and elsewhere in the country.

In October, Nokia cut its outlook for 2019 and 2020 to step up its investments in 5G - news that knocked a third off the value of its share price.

Other relevant articles 
[2020-01-10 11:00:14] Brexit Cost After �Boris Bounce’ Is Still $260 Billion
[2020-01-08 22:50:08] Costco Comparable Sales Rose 9% in December Amid Holiday Boost
[2020-01-08 22:50:08] Costco Comparable Sales Rose 9% in December Amid Holiday Boost
[2020-01-08 22:00:13] Deere bets on cost cuts, services push to boost profits
[2020-01-08 13:20:08] Walgreens first-quarter profit falls nearly 25% on higher costs
[2020-01-06 19:45:24] U.S. Pays Bulk of Tariff Costs as Levies Fail to Save Steel Jobs
[2020-01-05 05:25:18] NBA notebook: Contact with ref costs Wizards’ Thomas $25K
[2019-12-30 11:15:23] China rate switch to ease funding costs, but banks not ready to...
[2019-12-30 00:25:40] Vodafone Hutchison Australia partners with Nokia to kick off 5G...
[2019-12-27 23:10:14] Turkish central bank lowers interest rates on credit cards:...
[2019-12-23 13:00:29] China considering more RRR cuts to lower financing costs: Premier...
[2019-12-20 03:55:11] Japan Approves Record Budget Amid Rising Social Security Costs
[2019-12-20 03:55:11] Japan Approves Record Budget Amid Rising Social Security Costs
[2019-12-19 12:10:07] Volkswagen brand to post record profit on SUVs, cost cuts:...
[2019-12-18 21:05:09] Trump’s China Buying Spree Unlikely to Cover Trade War’s Costs
[2019-12-18 10:35:07] Seoul, Washington fail to agree on cost of U.S. troops as deal set to expire
[2019-12-17 18:15:05] Boeing, suppliers slip as Wall Street counts MAX halt costs
[2019-12-16 14:15:31] Costco in Caracas: how Florida goods flood Venezuelan stores
[2019-12-12 17:00:13] Prince Gets His $2 Trillion Aramco, But Victory Comes at a Cost
[2019-12-12 13:55:08] Nokia says Daimler, others agreed to mediation to resolve licensing dispute
[2019-12-11 17:40:04] China retaliatory tariffs cost billions in lost consumption:...
[2019-12-11 15:10:11] Aeva shrinks size, cost of crucial self-driving sensor; deepens...
[2019-12-11 08:50:08] Telefonica Deutschland picks Nokia and Huawei for 5G network
[2019-12-11 07:10:03] World Bank says Indonesia forest fires cost $5.2 billion in...
[2019-12-10 15:20:04] U.S. third-quarter labor costs revised down; productivity weak
[2019-12-10 14:50:05] U.S. productivity weak in third quarter; labor costs revised...
[2019-12-09 14:55:24] Nokia halts legal action against Daimler with mediation offer
[2019-12-09 06:25:22] RBI Shock Pause Pushes Up Borrowing Costs for Indian Companies
[2019-12-09 00:45:24] Jordan finance minister says new IMF plan needed to reduce debt...
[2019-12-08 19:40:19] 3 Stocks To Watch In The Coming Week: Costco, Broadcom, Adobe Systems
[2019-12-05 16:35:07] Beyond Meat burgers to be sold at some Costco stores
[2019-12-04 17:25:08] Public digital currency could be needed to lower cost of payments: ECB
[2019-12-04 13:15:09] Special Report: 2020 U.S. census plagued by hacking threats, cost...
[2019-12-03 14:45:08] Nokia to name former networks head Sari Baldauf as chairman
[2019-12-03 14:30:08] Bank of Montreal Takes Job-Cuts Charge in Drive for Lower Costs
[2019-12-03 10:35:05] Daimler cost cuts to hit Germany hardest - Stuttgarter Zeitung
[2019-12-03 08:25:04] Kenya forcing importers to use costly new Chinese railway,...
[2019-12-02 04:20:24] Hong Kong Says Unrest Costing 2 Percentage Points of GDP Growth
[2019-11-29 21:00:18] Nokia says working to end patent licensing row with Daimler,...
[2019-11-29 18:20:23] EU watchdog tells banks to get a grip on costs, merge or close
[2019-11-28 14:15:09] Grain trader Louis Dreyfus to cut costs in ongoing overhaul
[2019-11-28 10:15:09] Nissan to roll out high-tech production system amid pressure to...
[2019-11-27 12:25:08] BMW management and labor reach agreement to cut costs
[2019-11-26 16:35:05] In gesture to Trump, US allies close to deal to pay more for NATO...
[2019-11-26 14:25:12] Thanksgiving Grocery Basket Costs Less This Year, Led by Aldi
[2019-11-26 06:20:05] China Sees Higher Cost for Dollar Bonds in Initial Pricing
[2019-11-25 19:10:23] U.S. bank regulator further cuts supervision costs for banks
[2019-11-25 18:10:24] Nokia operations chief to leave in management reshuffle
[2019-11-22 19:45:12] Exclusive: Chevron CEO plans major cost-cutting overhaul of...
[2019-11-21 23:35:09] JPMorgan lowers account minimum, expands free trades for You Invest
[2019-11-18 06:10:24] China Trims Market Borrowing Costs as Economic Outlook Dims
[2019-11-14 19:30:11] Chile finance minister warns of job losses, rising fuel costs...
[2019-11-14 15:25:07] U.S. producer prices rise solidly; healthcare costs increasing
[2019-11-14 11:15:08] HSBC, Emirates NBD cut jobs in UAE as banks look to reduce costs - sources
[2019-11-14 09:35:09] Mercedes-Benz Cars to slash 1 billion euros in costs by 2022
[2019-11-13 15:35:12] Rising healthcare costs power U.S. consumer inflation
[2019-11-13 15:00:14] U.S. Core Inflation Unexpectedly Decelerates as Rent Costs Cool
[2019-11-12 23:00:13] Vendors squeezed in Wells Fargo cost cutting push
[2019-11-12 15:00:08] Juul to cut $1 billion in costs as new CEO aims for reboot
[2019-11-12 12:20:04] Continental, Osram cut costs as autos downturn hits suppliers
[2019-11-11 13:40:23] UK building sector hit by surge in insurance costs after Grenfell fire
[2019-11-11 08:30:24] Prosus posts Just Eat offer document, lowers threshold
[2019-11-10 08:05:22] Frances EDF expects six new nuclear reactors to cost 46 billion...
[2019-11-08 08:50:11] New PSA-Fiat Chrysler management to try to improve cost savings:...
[2019-11-07 20:15:14] A 90-minute cut: shorter trading day comes with costs
[2019-11-07 16:45:08] Lufthansa plans more cost cutting as cabin crew strike over pay
[2019-11-07 12:15:08] Uber faces costly choices after expert finds it uses Waymo self-driving tech
[2019-11-07 10:05:07] Lufthansa Sees Eurowings Revival as Strike Shows Costs Challenge
[2019-11-06 04:35:13] Kazakh energy minister says new Tengiz expansion cost too high
[2019-11-05 21:05:09] WeWork still on life support, rivals say it must cut costs fast
[2019-11-05 18:10:04] Trump tariffs cost China $35 billion, hurt both economies: U.N.
[2019-11-05 09:40:04] OPEC sees its oil market share shrinking, lowers demand view
[2019-11-05 04:55:26] PBOC Trims Cost of 1-Year Funding Amid Market Liquidity Nerves
[2019-11-04 18:15:25] Austrian Airlines plans to cut 500 jobs to reduce costs: source
[2019-11-01 11:30:18] Danske Bank tempers full-year profit expectations, unveils plan...
[2019-11-01 05:20:11] Nokia eyes Malaysian ports for 5G business as Huawei takes early lead
[2019-10-31 21:10:12] Keystone Pipeline Shutdown Raises Costs for U.S. Gulf Refiners
[2019-10-31 13:45:09] U.S. labor costs rise in third quarter
[2019-10-30 11:05:07] Total Profit Beats Estimates as It Boosts Output and Cuts Costs
[2019-10-30 10:45:09] Nokia hires 350 engineers to speed up 5G development
[2019-10-30 07:50:08] VW lowers 2019 outlook for vehicle deliveries as demand cools
[2019-10-29 12:25:04] ConocoPhillips profit slumps 43% on lower oil prices, higher...
[2019-10-29 11:35:07] Russian telecoms firms want government compensation for data...
[2019-10-28 21:35:24] The Cost of Doing Business in California Is One Blackout a Week
[2019-10-28 21:15:25] New tuberculosis treatment for developing countries to cost...
[2019-10-28 18:30:26] Workers in pain: Employers take a new twist to prevent costly...
[2019-10-27 13:00:24] Amazon Earnings Preview: Rising Costs, Regulatory Scrutiny Pose 2...
[2019-10-27 12:10:21] U.S. duty-free loss could cost Thai products $60 million:...
[2019-10-25 12:35:11] BMW CEO says trade war could cost U.S. jobs
[2019-10-24 17:50:09] Russian operatives sacrifice followers to stay under cover on...
[2019-10-24 14:15:09] American Airlines profit beats estimates on lower fuel costs
[2019-10-24 12:35:08] Chemicals maker Dow profit beats estimates on cost cuts
[2019-10-23 21:00:17] Teva’s proposed opioid settlement could cost drugmaker pennies on...
[2019-10-22 10:55:04] Goldman Sachs lowers forecast 2020 U.S. shale oil output growth
[2019-10-22 07:55:03] Australia recommends increased monitoring of airport costs, no...
[2019-10-21 21:50:28] Companies slow to disclose financial costs of climate change:...
[2019-10-17 19:30:10] A sham Qatar deal could have cost ex Barclays exec $64 million, court hears
[2019-10-16 19:35:10] Chinas Didi Chuxing deepens Latam push with plans to launch in Costa Rica
[2019-10-15 19:35:04] Shift in U.S. trade approach has short-term costs, but long-term...
[2019-10-15 14:20:04] Wells Fargo quarterly profit slumps 26% on legal costs