Espoo, Finland – Nokia (NYSE: NOK) on Tuesday
announced a new "simplified company structure" that will see its devices
and services businesses divided into three units, focused on Mobile Solutions,
Mobile Phones and Markets.
Nokia said the plan "aims to accelerate product
innovation and software execution in line with the company’s goals of
integrating content, applications and services into its mobile computer,
smartphone and mobile phone portfolio."
The Mobile Solutions group will
focus on Nokia’s high-end mobile computer and smartphone portfolio, while the
Mobile Phones unit will handle the rest of its handsets, and Markets will be
responsible for sales and marketing duties.
"Nokia’s new organizational
structure is designed to speed up execution and accelerate innovation, both
short-term and longer-term," said Nokia CEO Olli-Pekka Kallasvuo.