“Analysts said Chief Executive Stephen Elop had until the end of the year to improve sales of the new Lumia smartphones – Nokia’s main weapon in its fight against rivals Apple and Samsung Electronics – before investors started to question his strategy,” Virki reports. “Elop, who launched Nokia’s turnaround plan in February 2011, said sales of the new Windows-based Lumia phones on which the company is pinning its hopes have been mixed.”
Virki reports, “Nokia said Colin Giles, head of sales, would leave the firm in June as it restructures the team to help speed up sales. His boss, markets unit chief Niklas Savander will take on Giles’ duties… Nokia reported a loss of 0.08 euro per share for the first quarter on Thursday, one cent wider than a Thomson Reuters StarMine forecast. It warned last week of losses in the first two quarters of the year… Nokia said it would announce details of the extra cost cuts soon.”
Read more in the full article here.
MacDailyNews Take: Elop. With a capital “F.”
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