Nokia's Strategic Missteps Signal a Long Path to Recovery
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Published:
Week 25
June 2010 -
Image Source:
Nokia
News
In an update to financial markets on 16 June 2010, Nokia announced that it would not meet previously stated sales and margin expectations for the year. It attributed this to the competitive environment, a shift in its product mix toward devices with lower gross margins and a recent depreciation of the euro, which had affected Nokia's cost of goods sold, operating expenses and pricing.
The news follows changes revealed on 11 May to simplify Nokia's organisational structure for devices and services. From 1 July, the company will be made up of three business units: Mobile Solutions, Mobile Phones and Markets.
