I think we all have owned a Nokia phone or at least have played the snake game in a Nokia cellphone. This company introduced their first device "Mobira Cityman 900" in the market in 1987.
Ever since, Nokia has been advancing and adjusting to innovations that have been appearing through the past of the years. Weeks ago, Nokia has named a new finance chief, Marco Wirén. He is currently the executive vice president of Wärtsilä and on September 1st he will become Nokia's new CFO. In September, Marco Wirén will be replacing the current finance chief Kristian Pullola, who has been with Nokia for 21 years. He will remain with the company until the end of the year to aid the transition. Nokia has also announced that Rajeev Suri would be replaced by Pekka Lundmark who will be the company's new CEO.
Suri Baldauf, chairman of the board of directors, had called 2019, a challenging year for Nokia. Last year they invest a huge amount of money on “ReefShark”, the 5G chipset who was focused in 2020, but Nokia has been recently missed 5G contracts with three Chinese mobile operators. These contracts may end in Huawei, ZTE or Ericsson. These three competitors amid the shift to the fifth generation of cellular networking technology(5G). This transition has been slower than expected and because we started 2020 with the coronavirus pandemic. “His commitment, integrity, and a deep belief in Nokia and its values has served as an example to all of us. I have worked closely with him in both good times and bad, and could not have asked for a more dedicated, intelligent colleague,” Suri said in a statement regarding Pullola. “All of Nokia owes him their thanks and he certainly has mine.”
Nokia is the world’s second-largest telecom equipment producer, behind Huawei Technologies. The game is changing, and it is always a big challenge.