Nokia Siemens to close small factory in India

Telecom equipment maker Nokia Siemens Networks said it plans to shut down a small factory in India at the end of July as part of a global cost-cutting drive.

A spokeswoman for the joint venture between Nokia and Siemens said the Kolkata plant, which employs 48 people and makes fixed-line communications equipment, was "non-core and also unprofitable".

The company's massive restructuring drive, including asset sales and 17,000 job cuts worldwide, have helped NSN's operating and gross margins rise in recent quarters.

Copyright: Thomson Reuters 2013