Nokia Shakes Up Executives, Eliminate 10,000 Jobs by the End of 2013

From DailyTech: Nokia seems to be riding high in the U.S. with its Lumia 900 smartphone that runs Microsoft's Windows Phone 7.5 operating system. The company is seeing high demand for its flagship smartphone on AT&T's wireless network and is reportedly in talks with Verizon to expand its market presence in the U.S.

However, all is not well with Nokia globally. The company's overall smartphone market share has plunged worldwide with the most recent figures from IDC showing that Nokia had just 8.2 percent global smartphone market share for Q1 2012 compared to 24.7% and 29.1% for Apple and Samsung respectively.

As a result of its precarious place in the worldwide phone market, Nokia is looking to make some drastic changes to put out the flames on this burning ship. Today, Nokia announced a plan of action that centers around three key goals:

Invest strongly in products and experiences that make Lumia smartphones stand out and available to more consumers;
Invest in location-based services as an area of competitive differentiation for Nokia products and extend its location-based platform to new industries; and
Improve the competitiveness and profitability of its feature phone business.

In an effort to follow through this plan, Nokia looking to its Lumia brand of smartphones to showcase its innovative side and reclaim market share back from industry heavyweights like Samsung and Apple. "We intend to pursue an even more focused effort on Lumia, continued innovation around our feature phones, while placing increased emphasis on our location-based services," said Stephen Elop, Nokia president and CEO. "However, we must re-shape our operating model and ensure that we create a structure that can support our competitive ambitions."

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