Monday, February 7, 2011

Nokia Rises On Speculation

Andrew Orlowski of tech site The Register, citing a report from a German publication, WirthschaftsWoche, writes that Nokia’s (NOK) recently appointed CEO Stephen Elop is planning to purge some key executives, which Orlowski calls a “Great De-Finnification.”
The German report apparently names names in a big way, though it’s not clear from the Register’s account where the information is coming from. Orolowski writes that it seems Elop may keep Alberto Torres, head of a team developing the next-generation MeeGo development platform for Nokia phones. Other than that, it would appear that Elop may be about to eviscerate the dream team assembled by former CEO Olli-Pekka Kallasvuo.
Nokia is expected to hold an analyst day meeting in London on Friday, which event has prompted intense speculation about how the company might transform itself in the face of marketshare losses.
Joann S. Lublin and Christopher Lawton of The Wall Street Journal also penned a piece citing the WirthschaftsWoche article this morning.
Nokia shares this morning are up 23 cents, or 2%, at $11.29 in early trading.

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