Nokia CEO can’t handle iPhone Pressure, leading him to step down
Now only iPad which has been term as killer iPad or killer device for other netbooks maker but now iPhone has also taken a lead in this where Finnish cell phone giant Nokia Friday picked a former Microsoft software head to convey what it termed a ‘renewal and transformation’ in the face of increasing pressure from Apple’s iPhone and Google’s Android platform.
It seems that Stephen Elop, former leader of Microsoft’s Business Division, will take over as the new CEO chair from outgoing Olli-Pekka Kallasvuo on September 21.“The time is right to accelerate the company’s renewal; to bring in new executive leadership with different skills and strengths in order to drive company success,” Jorma Ollila, Chairman of Nokia’s Board of Directors, announced. He term Elop as astrong software background and proven record in change management will be valuable assets as we press harder to complete the transformation of the company.
Earlier Nokia has been experiences trouble with the changing trend of the cell phone industry where in August they highlighted the two reports suggesting that Apple and Android were dominating a market increasingly composed of smartphones.
Not only that even Nokia and Apple has a lawsuits over the summer, claiming each of infringing the others’ patents. This incident has provide, Nokia to suffer a several embarrassing headlines in 2010 at the hands of Apple, including closing the cell phone giant’s London flagship retail location, along with sites in New York, Chicago and elsewhere.
Moreover, in 2009 Apple surpassed Nokia as the most profitable cell phone maker, earning a $1.6 billion quarterly profit versus Nokia’s $1.1 billion.