Nokia CEO calls for end to speculation

Michael Carroll | July 23, 2010

telecomseurope.net

Nokia’s chief executive says speculation regarding his future is harming the firm’s chances of recovery, after a dire second quarter when profits dived.

Olli-Pekka Kallasvuo told CNBC that rumors the vendor is looking to replace him were “not good for Nokia and must be brought to an end.”

The Wall Street Journal reported earlier this week that Nokia was looking for an outsider to head up the embattled handset firm. Kallasvuo said he would not comment on his position at the company

Nokia revealed that profits had fallen from €287 million to €104 million year-on-year in 2Q, with sales flat at €10.0 billion ($12.9b).

The result followed two profit warnings as the Finnish firm has battled to find a smartphone to compete against Apple’s iPhone and Google’s Android range.

Revenue in the devices and services group was up just 3%, despite an 8% rise in shipments to 111.1 million units. The average selling price (ASP) of €61 was down from €62 in the previous quarter and €64 a year ago.

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