Now that Nokia has a new CEO, should it adopt a new smartphone strategy as well? There are strong arguments on both sides. On the one hand, Nokia has put an awful lot of money and effort into Symbian^3 and MeeGo, the mobile operating systems with which it hopes to regain high-end leadership in the industry. On the other, the person who defined that strategy, former CEO Olli-Pekka Kallasvuo, was ousted last September after an ugly 70 percent decline in Nokia’s market value.
South Korea's LG Electronics Inc ousted its chief executive on Friday, replacing him with a founding family member in a bid to turn around its loss-making mobile phone business, the world's third largest.
Koo Bon-joon, the head of trading firm LG International will take over from Nam Yong, who resigned from the top job to take responsibility for poor management, LG said on Friday. Nam is the second CEO of a major mobile phone maker in a week to lose his job after the world's No.1 handset maker, Nokia, last Friday replaced Olli-Pekka Kallasvuo with Stephen Elop, a Canadian Microsoft executive.
Koo Bon-joon, the head of trading firm LG International will take over from Nam Yong, who resigned from the top job to take responsibility for poor management, LG said on Friday.
Nam is the second CEO of a major mobile phone maker in a week to lose his job after the world's No.1 handset maker, Nokia, last Friday replaced Olli-Pekka Kallasvuo with Stephen Elop, a Canadian Microsoft executive.
By failing to understand changes in its market and remaining geographically removed, the mobile-phone maker ceded control to Apple and others.
What was the most successful European company of the 1990s? Easy: Nokia. The Finnish mobile-phone manufacturer captured the emerging market for mobile phones and built the industry's most powerful brand. Its handsets virtually defined the industry from the time it launched its first GSM phone, the 1011, in 1992. From 1996 to 2001 its revenues increased almost fivefold, and by 1998 it was the world's biggest mobile manufacturer.
Nokia unveiled an arsenal of smartphones crucial to its fightback against Apple's iPhone and Research in Motion's BlackBerry after its most fundamental management shake-up in decades.
At its annual showcase conference -- attended by neither outgoing Chief Executive Olli-Pekka Kallasvuo nor incoming CEO Stephen Elop -- the world's biggest cellphone maker introduced three new models it is banking on to be a hit this Christmas."Nokia is back!," the company's sales chief, Niklas Savander, declared
The shakeup at the top of Nokia widened Monday when the company said the head of its smartphone business would be following the chief executive out the door.
Nokia, which is the largest maker of mobile phones in the world, also confirmed that its longtime board chairman, Jorma Ollila, might step down from the board after the company’s general meeting in 2012.
The announcement of the departure of Ansii Vanjoki, a board member and 19-year Nokia veteran, came just days after Nokia appointed Stephen Elop, a Canadian who headed Microsoft’s business software division, to be its new chief executive, replacing Olli-Pekka Kallasvuo.
Nokia announced Friday that it has named Stephen Elop, a veteran of Microsoft, as its new president and CEO. Elop replaces Olli-Pekka Kallasvuo, who will leave Sept. 20 with Elop taking over the following day at the Finnish mobile giant.