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Technology Stocks : Smartphones: Symbian, Microsoft, RIM, Apple, and Others -- Ignore unavailable to you. Want to Upgrade?

To: Eric L who wrote (1074)	2/9/2011 12:11:04 PM
From: Road Walker	Read Replies (1) \| Respond to of 1647

Nokia (NOK) Getting Beat Up in Own Backyard; CEO Praises Apple (AAPL), Google (GOOG) 11:38 am ET 02/09/2011 - StreetInsider Nokia Corp. (NYSE: NOK) has been losing fast to fast growing competitors recently, prompting the company CEO Stephan Elop to prepare for a shake-up to be announced on Friday. Now news comes that for the Finnish company was unable to secure the top spot in its home country for best-selling phones, as for a second consecutive month the ZTE Blade from China took top honors. In fact, the company's flagship phone, the N8 fell three places to ninth. The Apple Inc. (NASDAQ: AAPL) iPhone 4 was second on the list. Also on Wednesday, Elop sent out internal memo saying that the company was now standing on a "burning platform," and choices have to be made. "There is intense heat coming from our competitors, more rapidly than we ever expected. Apple disrupted the market by redefining the smartphone and attracting developers to a closed, but very powerful ecosystem," Elop said. "The first iPhone shipped in 2007, and we still don't have a product that is close to their experience. Android came on the scene just over 2 years ago, and this week they took our leadership position in smartphone volumes. Unbelievable." Elop sad the new strategy will be unveiled on Friday, as Elop said "it will be a huge effort to transform our company." Nokia shares on the New York Stock Exchange are up 20 cents to $11.48 in midday market movement on Wednesday.