nokia refused to replace ceo pekka lundmark less profit after iphone 16 in india

There was a time when Nokia had a one-sided hold on the smartphone market. But this trend of the company has decreased. Now another decision has been taken, in which it has been said that the company is not looking for a new CEO at the moment. Reuters report claims that the company is not looking for a new CEO. Earlier, a report claimed that Nokia can replace its current CEO Pekka Lundmark. But now Nokia has clarified on this.

In a statement to Reuters, Nokia said that the board fully supports President and CEO Pekka Lundmark. At present, no replacement is being considered. The company said that the leadership is confident that the company’s long-term plan is being fully followed.

Lundmark was appointed CEO of Nokia in 2020. The company has also suffered huge losses recently. Because the demand for 5G equipment decreases significantly. In such a situation, everyone’s eyes were that perhaps the current CEO could be replaced. The company says that it hopes to see a jump in profits by the end of 2024 after recently receiving orders from North America.