Elop pledges counterstrike
Nokia President and CEO Stephen Elop says the company will be taking sharp measures to turn recent earning trends around. The company will invest more in its Windows-based Lumia smartphone product family. In addition, new products are to be launched in the period of April through June. New pricing for lower-end phones is also to be part of the planned counterstrike.
"Within our Smart Devices business unit, we are increasing our investments in Lumia: to more consumers and to more markets," Elop told a phone conference aimed at investors.
According to Elop, the company's Mobile Phones unit will undertake "tactical pricing actions". The Mobile Phones unit produces Nokia's inexpensive basic cellphones.
The Nokia CEO also announced that more new products will be launched over the next few months.
"Thirdly, we will accelerate planned cost reductions and we will pursue significant structural actions if and when necessary," stated Elop.
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