News
Nokia: Profits over volume in 2009
Tim Green Jan 2 2009, 12:46pm
CEO says market share and margins are 'the right way in order to maximize the bottom line'.
Olli-Pekka Kallasvuo told the Financial Times it would not get into a price war with rivals as a response to tough market conditions for handset vendors. He said: "We will continue to combine market share and margins in the right way in order to maximise the bottom line...When times are tougher, people who have stronger positions fare relatively better than the competition."
He believes Nokia's strong position in all market segments, from budget devices to high-end smartphones, will leave the firm stronger than competitors. It's also looking at more acquisitions even though it has already bought a dozen companies in the services space.
