Well, here’s a surprise: Reuters says Nokia might consider replacing CEO Olli-Pekka Kallasvuo in order to please unhappy shareholders who don’t see the cellphone giant effectively competing in the smartphone market. The report is mostly based on analyst chatter and doesn’t provide any hard sources, but we’ve certainly seen analysts swarm around blood in the water like this in the past, so it’s not totally out of the question — especially given core concerns about Symbian^3 delays, stagnant profit growth, and (uh oh) competing against the iPhone. What’s more, OPK pledged to build up Nokia’s US presence when he took over, and he’s obviously failed to deliver on that promise — US marketshare has fallen from 20 percent to 7 percent, prompting one analyst quoted in the Reuters piece to wonder if “Nokia really has the desire to fix the problem.” Ouch. That’s a lot of big questions with no easy answers — OPK is scheduled to speak to shareholders next week, we’ll see what he has to say.
Nokia CEO Olli-Pekka Kallasvuo being replaced to soothe frustrated investors? originally appeared on Engadget on Fri, 30 Apr 2010 11:25:00 EST. Please see our terms for use of feeds.
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Original post by Nilay Patel
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