While Nokia still is a global leader in smartphones, it's struggling to compete in the expensive segment with rivals such as Apple's iPhone and Research In Motion's BlackBerry.
Nokia chief executive Olli-Pekka Kallasvuo conceded that the Finland-based company had "plenty of work to do," as the company's share price continued a two-week slide.
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Nokia's CEO is promising more smartphones like the N8 to better compete with the iPhone and Blackberry.
Nokia's CEO is promising more smartphones like the N8 to better compete with the iPhone and Blackberry.
"This year, Nokia is planning to introduce a new generation of devices that is expected to help close the gap with the competition in high-end smart phones," he said.
The Nokia chief was speaking amid Finnish media speculation that he would be forced to step down as the company was seen as losing out against chief rivals.
Board chairman Jorma Ollila agreed the past year had been "unsatisfactory", but told the annual general meeting of shareholders (AGM) that "the board supports the company's management," in its business strategy.
Nokia shares plummeted last month after it reported weaker than expected earnings, cut its outlook and said new, high-end phones would ship later than hoped.
Kallasvuo also admitted the Symbian operating system used in most of Nokia's phones had not managed to keep up with those of rivals, but said the company was "fixing this factor as we speak", and added its aim was to become the "image leader" for high-end smartphones.
Kallasvuo said that 83 million customers worldwide were registered as active users of Nokia's mobile services but admitted that it also has to improve in this sector.
"We are working hard to reclaim leadership in high-end smartphones and mobile computers," he said. "It is critical that we improve the customer experience with the usability of both our devices and our services."
Kallasvuo described the new models as a "new generation" of devices, but gave scant details.
"Our approach has been to concentrate on fewer, competitive products that bring the features of Symbian-based smart phones to more and more people around the world," he said. "And we are well on our way to doing that."
Kallasvuo said that 2009 was the 12th consecutive year that Nokia was the No.1 mobile phone maker, when it sold 432 million handsets globally — more than its top three rivals combined.
Nokia, based in Espoo near Helsinki, employs around 126,000 people worldwide.
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