NEC to cut 10,000 jobs as iPhone conquers market

Japan’s NEC will cut nearly one in ten of its workers as the iPhone continues to gobble up the market for smartphones.

The company said this week that recent poor performance stemmed from the popularity of the Apple iPhone in Japan, an increase in the number of foreign rivals it faces in the IT infrastructure market, and trouble expanding beyond its home country, Reuters reported.

NEC forecast a loss of $1.3 billion (100 billion yen) for the year ending March 31, and said about 7,000 of the 10,000 eliminated jobs will be in Japan, with the company taking a $520 billion restructuring charge.

Read the rest of the story: NEC to cut 10,000 jobs as iPhone continues assault on Japan.

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