Stephen Elop, the former Microsoft exec who headed up the 18.6 billion dollar business division is now the current CEO for Nokia. This is a strategic move for Nokia to try and reverse some of the market erosion they are experiencing in the smartphone market. Blackberry, iPhone, and Android phones have been giving Nokia a hard time these past couple years and former CEO Olli-Pekka Kallasvuo has been on the chopping block for 4 years now.
Despite a loss in market share, Nokia still remains the world's largest wireless phone company with 36% of the total global market at the end of the second quarter but it's down from its peak in 2007 at 46%. Most of that 46% comes from their dominance of the European and Asian markets but elsewhere their presence is relatively weak.
For more on Nokia and their CEO requirements, hit the break.
Elop will have to find a way to bring Nokia to new markets and position them correctly to solve many of the problems the company is facing now. Part of that solution will be to redo Symbian, the operating system that nearly all Nokia phones use. That will be a major step in getting the wireless giant back on track. When asked to comment on his plan to get some results, Elop simply said,
It's too early to talk about the changes ahead. Right now I'm in the process of deep listening. The challenges we face are well-understood inside Nokia.
On the other hand, this could all just be an elaborate Microsoft scheme to sabotage Nokia and improve Win Phone 7's success, just saying. What do you think?