Nokia Corp. said it was replacing embattled Chief Executive
Olli-Pekka Kallasvuo with Microsoft Corp.’s Stephen Elop, as
the world’s largest handset maker seeks to reverse steep
declines in earnings and market share that have decimated its
share price. […]
Mr. Elop’s main task will be to develop a credible challenger to
Apple Inc.’s iPhone, something Mr. Kallasvuo failed to achieve
during his four-year tenure. Many analysts feel that Nokia was
caught flat-footed by the iPhone’s success and blame its weakness
in smartphones for shaving about 70% off of Nokia’s market value
over the past three years.
I suppose the other analysts — the ones who don’t think the iPhone caught Nokia flat-footed — moonlight as dentists who recommend sugared chewing gum.