Nokia to Restructure with Three New Units
The world's biggest mobile handset firm, Nokia, announced a reorganisation on Wednesday aimed at taking advantage of future growth areas and increasing its efficiency.
Under the new structure, effective from January 1 next year, the Finnish-based company will be divided into three units -- Devices, Services & Software and Markets.
Those will replace its current divisions of Mobile Phones, which makes its cheapest models, Enterprise Solutions, which aims products at the business market, and Multimedia, which produces cellphones with advanced cameras and music players.
Nokia said the new organisation would help it manage its product line-up more effectively, speed up the time it takes to get new models onto the market and boost its efficiency in marketing and developing products.
The company will also restructure its financial reporting into two segments -- Devices & Services and Nokia Siemens Networks, its infrastructure joint venture with Germany's Siemens.
"The convergence of the mobile communications and Internet industries is opening up new growth opportunities for us, both in the devices business as well as in consumer Internet services and enterprise solutions," Chief Executive Olli-Pekka Kallasvuo said in a statement.
He said the new organisation could take advantage of those opportunities, as well as boost the effectiveness of investments and operational efficiency.
The Devices unit will be headed by Kai Oistamo, who currently heads Mobile Phones. Services & Software will be led by Niklas Savander, who heads Technology Platforms at present; Markets will be headed by Anssi Vanjoki, currently chief at Multimedia.
Mary McDowell, who heads its Enterprise Solutions division, will become chief development officer.