Nokia sees weak Q1, shifting plan
The world’s biggest cellphone maker Nokia warned of a grim start to 2011 after rivals ate even more of its market share, highlighting the scale of the turnaround task facing its new boss.
Stephen Elop, who took over as chief executive last September, will unveil his plan to revamp Nokia’s strategy in two weeks’ time and said on Thursday he would aim to reopen markets such as the U.S.
Nokia has been left in the dust by competitors such as Apple and Google and is suffering a drop in sales of its stronghold of traditional phones as Chinese manufacturers take advantage of the growing market.
Elop said the company faced challenges in its competitiveness and execution and flagged a change in its software strategy.
“We must build, catalyze or join a competitive ecosystem,” he said.
Experts said Elop’s comments suggested Nokia could introduce new smartphone models using Google’s massively popular Android application.