Nokia Corp. said it will reorganize the company into four divisions to focus on convergence, new mobility markets and growth.
The four segments include mobile phones, multimedia, networks and enterprise solutions. The reorganization, the most far-reaching in a half decade, does not only set the tone for the company business going forward but also effects a management reshuffle to position a successor for the company’s top position.
“With our flexibility and the new structure we are truly in the best position to bring the benefits of mobility to everyone and to take the opportunity of the next growth wave in this industry,” said Jorma Ollila, chairman and chief executive officer.
The mobile-phone unit will operate under Olli-Pekka Kallasvuo as executive vice president and general manager. The multimedia division, which seems the main point of the restructuring, will be under Anssi Vanjoki, executive vice president and general manager. The networks division, which is the weakest of the four, will have Sari Baldauf at the controls as executive vice president and general manager. The enterprise solutions segment, which was announced last July, does not have a head yet.
Nokia said it will establish companywide horizontal functions to work with the four groups.
“This will enable global care of customer relations and channels, economics of scale in operations as well as better horizontal leverage of technologies, business opportunities and common support,” said the company.
The changes will take effect Jan 1, 2004, according to Nokia.
