24 Jul 10 Nokia’s profit earning slash down by 40%, CEO fears loosing his job

Finnish Phone Maker Nokia is trying hard to save its positon in the market for smartphones but it is not able to do so.  Despite Nokia is doing well with low-end mobile phones but not with the high -end smartphones as its profit earning has gone down by 40% in the second quarter. Nokia has a lot of expectation from its N8 which is Symbian based.  Nokia’s CEO Olli-Pekka Kallasvuo believes that his job depends on the sucess of N8.  He believes N8 will be a come-back for high-end smartphones.

There are news that Nokia is planning to replace its CEO Olli-Pekka Kallasvuo who is working with Nokia since 2006. Its a last chance for Olli-Pekka to bring Nokia phones in line with Apple & RIM. It has further in rumors that Nokia has knocked the door of many CEOs of technology companies in the US. And in light of this matter one CEO of major entity has refused the offer looking at the condition of Nokia in the market.

Instead of leading, Nokia is lagging. It took a year to catch up with Apple’s first touchscreen mobile device in 2007.  Now Nokia has reported delays in the technology for the new Symbian 3 smartphones, while Apple has raced ahead with the release of the iPhone 4.

If Nokia decides to replace the existing CEO than who will be to take that position. Will  he/she be capable to do that job which olli was not able to do?  Will Nokia N8 save olli’s job ? Do you think the new CEO will be able to change Nokia’s  culture overnight and Gain investors confidence once again ?

[via Theinquirer]