Thursday, February 10, 2011

Day of reckoning dawns for Nokia's new CEO

(Reuters) - Nokia's wisdom in picking outsider Stephen Elop to return it to its former glory will be tested on Friday when the new chief executive reveals his plans to transform the world's biggest cellphone maker.

Following a leaked memo in which Elop candidly described the need to leap from Nokia's "burning platform," speculation has intensified that he will announce a radical switch to use software from rivals Microsoft or Google.

Nokia has rapidly lost share in the higher-margin smartphone market to the likes of Apple's iPhone, and products based on Google's Android platform claimed the top spot from the company last quarter.

In a bid to stem the losses, Chairman Jorma Ollila brought in Elop from Microsoft last September. The 47-year-old is the first non-Finn to head the company.

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