Nokia CEO: We've got to transform the company

The CEO of Nokia has admitted that the company is making efforts to restructure itself after accepting that the mobile industry is undergoing the biggest upheaval in two decades.

"A change is needed," said Nokia's Olli-Pekka Kallasvuo, speaking at an economic policy seminar. "It needs to be promoted actively, and should not simply be adapted to. Nokia's starting point is that efficiency, speed and a desire for experimentation will strengthen the company's competitiveness. It's about the way to do work, and not succumbing to uncertainty and pain." Kallasvuo said.

Without detailing the approach, Kallasvuo claimed that Nokia was making efforts to transform itself from a manufacturer of devices into a provider of services and solutions. "With respect to what we do, we need to look at whether the organisation is right, whether we can create and take advantage of economies of scale, develop superior patentable inventions, and so on."

Kallasvuo also stressed that Europe needed to accelerate its reforms and improve its flexibility, adding that it was a matter of "broad structural changes rather than refinements."

For more on this story:
Helsingin Sanomat

Related stories:
iPhone to overtake Nokia in smartphone market by 2013
Nokia goes for gold with mobile payments investment
Nokia's new strategy fails to impress
Nokia looks to regain handset initiative with futuristic products