Nokia, the world’s biggest mobile phone maker by volume, this early morning reported another revenue fall, its 3rd inside a row. Net earnings dropped 21 % within the fourth quarter, from 948 million euros in the fourth quarter of 2009 to 745 million euros in Q4 2010. Nokia stated its believed market share shrunk to 31 percent in the fourth quarter of final yr, down from 35 percent a yr before. The silver lining: marketplace share really went up one percent in contrast towards the third quarter of 2010. Product sales came in at twelve.65 billion euros. In a separate release, Nokia introduced a reshuffle in its board of directors.
Two of its board members, Lalita Gupte and Keijo Suila to become much more specific, will no lengthier be obtainable. Gupte was initial appointed to Nokia’s board in 2007 and has been a member of the Audit Committee during her entire directorship. Keijo Suila continues to be Nokia board member because 2006 and it is currently also a member with the Personnel Committee.
Nokia’s Corporate Governance and Nomination Committee will propose towards the Yearly General Meeting that Jouko Karvinen (CEO of Stora Enso), Helge Lund (President and CEO of Statoil Group) and Kari Stadigh (Group CEO and President of Sampo) be elected as members with the Nokia Board of Directors to get a phrase ending in the Yearly General Meeting in 2012.
The Committee may also propose election of Nokia CEO Stephen Elop to its board for the exact same term. Nokia is struggling to compete with Apple’s iPhone and the abundance of Android smartphones around the global marketplace, and Elop is stated to gear up for outlining his long-term strategy ideas at Nokia’s investor meeting on February eleven. Is a comeback within the cards, or will Nokia’s earnings continue to decline steadily? The company’s own outlook is bleak: Nokia predicts a further drop in earnings for the initial quarter of this year.
Two of its board members, Lalita Gupte and Keijo Suila to become much more specific, will no lengthier be obtainable. Gupte was initial appointed to Nokia’s board in 2007 and has been a member of the Audit Committee during her entire directorship. Keijo Suila continues to be Nokia board member because 2006 and it is currently also a member with the Personnel Committee.
Nokia’s Corporate Governance and Nomination Committee will propose towards the Yearly General Meeting that Jouko Karvinen (CEO of Stora Enso), Helge Lund (President and CEO of Statoil Group) and Kari Stadigh (Group CEO and President of Sampo) be elected as members with the Nokia Board of Directors to get a phrase ending in the Yearly General Meeting in 2012.
The Committee may also propose election of Nokia CEO Stephen Elop to its board for the exact same term. Nokia is struggling to compete with Apple’s iPhone and the abundance of Android smartphones around the global marketplace, and Elop is stated to gear up for outlining his long-term strategy ideas at Nokia’s investor meeting on February eleven. Is a comeback within the cards, or will Nokia’s earnings continue to decline steadily? The company’s own outlook is bleak: Nokia predicts a further drop in earnings for the initial quarter of this year.
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