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The Lowdown: Nokia Layoffs, Executive Changes, Vertu and Scalado Acquisitions

Nokia has made a series of announcements, outlining the company's new strategy, leadership changes and measures to improve its operating model. Here is a quick lowdown on all these announcements: New Strategy: As part of the company's new strategy, Nokia stated that it plans to invest in creating unique products and experiences for its Lumia range of Windows phone handsets, develop new location based services across navigation and visual search and extend its location based Where platform to multiple industries. It also plans to improve the competitiveness and profitability of its Series 40 and Series 30 devices and invest in various feature phone technologies like Nokia Browser which claims to compress pages by up to 90%. Nokia had reported a 16% decline YoY and 25% decline QoQ in its feature phone sales which stood at 70.8 million units globally as of March 31,2012. It had said this decline was more pronounced in India and Europe and had attributed this decline to lower seasonal demand for its feature phones and aggressive price competition from other players, especially in entry-level feature phones. A recent Nielsen India report however had stated that Nokia currently has a 30% share of the total multi-SIM handset market, followed by Samsung which had 16% market share and Micromax which has 12% market share. Executive Changes: Nokia has made several changes to its executive team by appointing Juha Putkiranta as its executive vice president of operations, Timo Toikkanen as its executive vice president of Mobile Phones, and Chris Weber as its executive vice president of sales and marketing.…

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