Following the news that Nokia’s quarterly earnings showed a tumble in profits, new boss-man Stephen Elop has given a vague indication of what the future might hold.
Speaking at Nokia’s quarterly earnings conference, the CEO told analysts: “We must build, catalyse or join a competitive ecosystem.” A vague statement indeed, but it’s more than enough to get ye olde rumour mill churning.
Embracing Android might seem like an obvious course of action, but there’s little evidence that investing in Google’s OS yields any significant profit - at least, not now that practically everyone else has already done so. Elop also stressed that “sustainable differentiation” was paramount for Nokia’s products, with some suggesting that a downgrade to Nokia's ailing Ovi internet service portal to make it more universally applicable might be the more likely course of action.
Despite the lack of specific information, CEO Steve’s silkily delivered words seemed to be enough to satisfy investors, with Nokia’s share price rising post-conference.
Nokia recorded a profit of €745m, however total shipments dropped by 3% while the market grew by 12%.
A strategy update has been scheduled for February 11. Hopefully Elop will have some substantially juicier Nokia news for us then.
Via The Register