With Nokia expected to miss profit growth in 2010, investors are frustrated at Nokia's CEO

With Nokia expected to miss profit growth in 2010, investors are frustrated at Nokia's CEO
Nokia's CEO might soon find himself in a steamy situation after facing frustrated shareholders next week. Since taking the top spot at Nokia in 2006, Olli-Pekka Kallasvuo has been with the company for more than half of his life; most of it as a company lawyer. Now it looks as though he's going to find himself in hot water with investors as the company is going to be one of the few firms to miss profit growth for 2010 when its expected to be the year of economic recovery. Since the launch of the original Apple iPhone back in 2007, Nokia had a difficult time in combating the threat as they saw some of their smaller rivals roll out similar devices to keep pace. Now that it's revealed that Symbian^3 has been delayed, it triggered a sell-off of their shares while analysts still expect the likelihood of more sell-offs down the road. This comes after an early edition of the upcoming Nokia N8 was previewed and received some less than spectacular reviews – specifically the highly touted new Symbian^3 platform featured on the smartphone. With that in mind, Kallasvuo's days with Nokia may be coming down to the wire as frustrated investors are looking for a possible replacement. There's no doubt that Nokia is placing a reasonable amount of expectations with the Nokia N8 and Symbian^3, but with it being delayed, Nokia could use the opportunity to really fine tune the platform so it can compete with its competitors.

Nokia N8 Preliminary Specifications

source: Reuters


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