Apple and android hit nokia

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Nokia shares fell the most in seven months yesterday after chief executive Stephen Elop signalled “ significant challenges” in its fight against iPhones and Android. The biggest cellphone maker fell as much as 8.7 percent in early trade and was 5.9 percent lower at e7.44 (R72) at 1.22pm in Helsinki. “ Nokia faces some significant challenges in our competitiveness and our execution, ” Elop said in the company ’ s earnings statement. “ The industry changed and it’ s time for Nokia to change faster. ” Elop, who took over as chief executive in September last year, is trying to stem the drop in the company ’ s market share since the 2007 unveiling of Apple ’ s iPhone. Nokia, which shipped its N8 smartphones with revamped Symbian 3 software at the end of last year, faces an uphill task as Apple expands into new markets and Android software becomes the favoured alternative for customers and application developers.

Nokia shares fell the most in seven months
yesterday after chief executive Stephen Elop
signalled “ significant challenges” in its fight against iPhones and Android. The biggest cellphone maker fell as much as 8.7
percent in early trade and was 5.9 percent lower at
e7.44 (R72) at 1.22pm in Helsinki. “ Nokia faces some significant challenges in our competitiveness and our execution, ” Elop said in the company ’ s earnings statement. “ The industry changed and it’ s time for Nokia to change faster. ” Elop, who took over as chief executive in
September last year, is trying to stem the drop in
the company ’ s market share since the 2007 unveiling of Apple ’ s iPhone. Nokia, which shipped its N8 smartphones with
revamped Symbian 3 software at the end of last
year, faces an uphill task as Apple expands into
new markets and Android software becomes the
favoured alternative for customers and application
developers.