Nokia Corporation, which has been struggling in the smart-phone business, is reportedly looking for a new CEO to replace Olli-Pekka Kallasvuo.
The Wall Street Journal reported that “sources close to the situation” have said that the move is due to Nokia not being able to keep up in the smart-phone race and hold valid competition against Apple and Android-based phones. Even though the company still sells more mobile phones than any other manufacturer, the Finland-based company’s stock has dropped 42% since April.
The WSJ had trouble reaching Nokia spokespeople in Finland, however, a U.S.-based spokeswoman declined to comment on the speculation. One of the New York City-based newspaper’s sources said that Nokia’s board members are set to make a decision at the end of the month.
According to sources, Nokia has flown in, at least, two U.S.-based CEOs of major technology companies for interviews and neither were interested in moving to Espoo, Finland, the company’s international headquarters.
Analysts blame the Finnish company’s operating system and its applications to compete with Apple’s iPhone and Google’s Android operating system, which has recently taken the world by storm in the Motorola Droid X.