Nokia CEO likely to face firestorm at investor conference next week

No one wants to be in Nokia (NYSE: NOK) CEO Olli-Pekka Kallasvuo's shoes next week when he must face angry shareholders who are looking for answers on how the world's largest handset maker will combat increasing competition from Apple (NASDAQ: AAPL) and others.

Nokia (NYSE: NOK) CEO Olli-Pekka Kallasvuo'sAnalysts said Nokia's annual shareholder conference, scheduled for May 6, may be the last one for Kallasvuo unless he can turn the company around and introduce a compelling competitor to the Apple iPhone before the 2010 holiday buying season. So far, Kallasvuo's track record is not particularly strong--the company has not had a hit in the smartphone arena since 2006, and just last week Nokia delayed the launch of the Symbian^3 software platform. In addition, investors are concerned by Nokia's continued inability to strengthen its presence in the U.S. market. According to Strategy Analytics, Nokia has just 7 percent of the U.S. market.

In addition, earlier this month Nokia reported a sharp rise in profits in the first quarter but the firm missed analysts' estimates--thus driving concerns about Nokia's smartphone strategy. In the first quarter, Nokia shipped 107.8 million units, up 16 percent from the year-ago quarter and down 15 percent from the fourth quarter. Nokia had 21.5 million smartphone shipments in the quarter, up 57 percent from the year-ago period and 3 percent sequentially.

For more:
- see this article

Related Articles:
Nokia posts Q1 profit, dogged by smartphone concerns
Nokia delays Symbian^3 OS to Q3
Nokia swings back to black, reports smartphone gains in Q4
Nokia to halve next year's smartphone portfolio
Nokia expects handset market to grow 10% in 2010


Do you think today's Open RAN networks are truly OPEN?

Saankhya Labs’ revolutionary 5G Open, vRAN approach disaggregates hardware from software, and unshackles the underlying hardware architecture enabling use of open heterogenous compute platforms, for truly open networks that eliminate vendor lock-in, increase scalability and reduce TCO.