{"id":25079,"date":"2010-05-11T22:52:49","date_gmt":"2010-05-11T17:22:49","guid":{"rendered":"http:\/\/greenworldinvestor.com\/?p=283"},"modified":"2010-05-11T22:52:49","modified_gmt":"2010-05-11T17:22:49","slug":"technology-wars-nokia-reshuffles-its-management-and-divisions-once-again-to-reverse-its-declining-fortune","status":"publish","type":"post","link":"https:\/\/iiec-india.org\/greenworld\/2010\/05\/11\/technology-wars-nokia-reshuffles-its-management-and-divisions-once-again-to-reverse-its-declining-fortune\/","title":{"rendered":"Technology Wars – Nokia reshuffles its Management and Divisions once again to turn the Tide of the Smartphone War"},"content":{"rendered":"

Nokia has been losing the smartphone wars<\/a> to RIMM,Apple and Google . Despite having a long history,R&D and supply chain in the mobile handset market,it has lost the initiative to these\u00a0 technology behemoths.<\/a>With a pleothera of new entrants<\/a> lining up new devices , Nokia chances of regaining its dominant position and reversing its marketshare losing trend is very close to zero.After reporting a horrendous first quarter results,Nokia is trying a different tack.It is shuffling the managment\u00a0 once again and creating a new “smartphone” division to bring new ideas into its staid mobile division.Despite plenty of resources , Nokia has been way behind the product curve in the smartphone market.Though it shows the company has realized its precarious position in the technology space,I don’t think it will take a massive effort to turnaround.Not to say that it has not been done before . IBM , Kodak and plenty of other companies managed to turn themselves around and are quite successful.<\/p>\n

Nokia Names New Smartphone Executive to Fend Off Apple, Research In Motion<\/a> – Bloomberg<\/h3>\n

Nokia Oyj<\/a>, the world\u2019s biggest maker of mobile phones, promoted a 20-year company veteran to head a new smartphone division as it tries to stem customer losses to Apple Inc. and Research In Motion Ltd.<\/p>\n

Anssi Vanjoki<\/a>, who has been with Nokia since 1991 and currently runs the marketing unit, will be the new smartphones chief, the Espoo, Finland-based company said in a statement today. Mary McDowell<\/a>, who heads corporate development, will take over as the head of low-end mobile phones, replacing Rick Simonson<\/a>, who will leave company.<\/p>\n

Chief Executive Officer Olli-Pekka Kallasvuo<\/a>\u2019s changes today mark the third time in nine months the company has reshuffled executives and operations as Nokia loses ground to Apple\u2019s iPhone and RIM\u2019s BlackBerry. He announced a \u201csolutions unit\u201d to speed cooperation in August, and shifted Simonson from finance chief to low-end phones in October.<\/p>\n

\u201cThis continuous set of reorganizations gives just one message to investors — that Nokia is really unaware of what they should be doing,\u201d said Jari Honko<\/a>, a Helsinki-based Swedbank analyst with a \u201creduce\u201d rating on Nokia shares. \u201cThe catchup game is still going on.\u201d<\/p>\n

Nokia<\/a> fell 10 cents, or 1.1 percent, to 8.70 euros. The shares have dropped 2.5 percent this year, valuing the company at 32.6 billion euros ($41.5 billion).<\/p>\n

\u2018Negative Reaction\u2019<\/p>\n

\u201cThe negative market reaction is probably due to Rick Simonson leaving,\u201d said Sami Sarkamies<\/a>, a Helsinki-based analyst at Nordea Bank who has a \u201cstrong buy\u201d rating on Nokia. \u201cHe was well appreciated by investors as former CFO and hadn\u2019t been that long in his current position.\u201d<\/p>\n

Kai Oistamo<\/a> will leave as devices chief and replace McDowell as the head of corporate development. McDowell and Vanjoki will report directly to Kallasvuo in their new positions. Simonson, who has headed low-end mobile phones in the seven months since stepping down as chief financial officer, will exit the company at the end of the year, Nokia said.<\/p>\n

Three years after Apple<\/a> introduced the iPhone, Nokia is still struggling to develop a handset with the same mass appeal. Nokia reported first-quarter earnings on April 22 that missed analysts\u2019 estimates and cut its margin target, sending the stock<\/a> down 14 percent.<\/p>\n

Smartphone prices declined to 155 euros in the first quarter from 190 euros in the third as new lower-priced models outsold the outdated high-end portfolio, the company said.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Nokia has been losing the smartphone wars to RIMM,Apple and Google . Despite having a long history,R&D and supply chain in the mobile handset market,it has [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","content-type":"","footnotes":""},"categories":[60],"tags":[1186,3549,3784,4398,4695],"class_list":["post-25079","post","type-post","status-publish","format-standard","hentry","category-technology","tag-competition","tag-marketshare","tag-nokia-technology-stocks-technology","tag-restructuring","tag-smartphones-hardware-technology"],"_links":{"self":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/25079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/comments?post=25079"}],"version-history":[{"count":0,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/25079\/revisions"}],"wp:attachment":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/media?parent=25079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/categories?post=25079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/tags?post=25079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}