Nokia's New CEO Pekka Lundmark Adopts Wait and See Strategy in 'Dream Job'

Lundmark previously spent 10 years working in Nokia's network business in the 1990s and then 20 years working elsewhere.

By Reuters | Updated: 8 August 2020 10:50 IST

Nokia's New CEO Pekka Lundmark Adopts Wait and See Strategy in 'Dream Job'

Pekka Lundmark previously spent 10 years working in Nokia's network business

Highlights

Huawei's conflict in the US may be an opportunity for Nokia
He didn't disclose strategy on Nokia's broad range portfolio
He hopes to give more detail by the end of the year

Nokia's new chief executive Pekka Lundmark said he will take time to re-acquaint himself with the Finnish telecom equipment maker before setting a strategy, as the company jostles for position in the highly political 5G race.

US government pressure to limit the use of China's Huawei presents an opportunity for Nokia as next generation technology is rolled out, but Lundmark would not be drawn.

"Maintaining good relations with governments in pretty much all parts of the world is extremely important," Lundmark said in a video interview with Reuters on Friday. "We are talking to governments in different parts of the world, but that's pretty much business as usual for us."

Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability

He also declined to disclose his thinking on Nokia's broad range of product portfolio and strategy. The company made product mis-steps last year, although it managed an unexpected rise in second-quarter underlying profit as it took on less low-margin business.

"What we will be doing now is to preview the current plans and then potentially make new plans as to how we develop the portfolio," said Lundmark, who took on the Nokia top job last weekend.

"I have theories and ideas in my mind, but again day five is far too early to talk about them."

European Commission Asks EU Nations to Diversify 5G Suppliers

He said he hoped to be able to give more detail "before the end of the year".

Lundmark previously spent 10 years working in Nokia's network business in the 1990s and then 20 years working elsewhere. Most recently he was CEO of Finnish energy company Fortum.

"This job is my dream job," he said of his new role. "It's definitely kind of a homecoming for me."

Huawei to Be Purged From UK 5G Networks by End of 2027: PM Boris Johnson

Why are smartphone prices rising in India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.