Nokia names Rajeev Suri as CEO, gives extra dividend

[third eye]

Nokia names Rajeev Suri as CEO, gives extra dividend| Reuters

(Reuters) - Rajeev Suri will become the new chief executive of Finnish telecommunications gear maker Nokia (NOK1V.HE), the company said on Tuesday, adding that it would return an extra 1 billion euros to shareholders from the sale of its phone unit.

Suri, 46, until now led Nokia Solutions and Networks (NSN), the smaller network equipment unit of Nokia when the company still made mobile phones.

Suri is credited with turning the unit around, and last year it contributed most of the 12.7 billion euro ($17.58 billion)turnover Nokia made from its continuing operations.

"Rajeev is the right person to lead the company forward," Nokia Chairman Risto Siilasmaa said in a statement. "He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results."

Last year, the NSN unit's sales were 11.3 billion euros, while navigation unit HERE accounted for 914 million euros and its patent unit, dubbed advance technologies, 529 million euros.

Nokia finalised the around 5.4 billion euro ($7.5 billion) sale of its struggling mobile phone business to Microsoft (MSFT.O) on Friday. It said it would now focus on its three remaining businesses that cover networks, navigation and patents.

The network unit was long in the red, but turned profitable in 2012 after Suri slashed costs and shed unprofitable business.

Analysts say management now needs to concentrate on winning more contracts as higher research and development costs mean bigger, deep-pocketed rivals have an advantage.

Nokia has said it would make an aggressive push this year to gain market share against industry leader Ericsson (ERICb.ST) as well as Chinese rival Huawei. Nokia has also said it aims for year-on-year sales growth in the second half.

The company also said it would pay stakeholders an extra 0.26 euros ($0.36) per share on top of the annual dividend of 0.11 euros for last year. The extra dividend amounts to around 1 billion euros total, and the ordinary dividend will cost another 400 million.

Nokia also said it planned to give at least 0.11 euros as dividend for 2014 and start a 1.25-billion-euro share repurchase programme, and reduce debt by 2 billion.

($1= 0.7223 Euros)

 

[Tshering22]

They have really improved big time from the past. I just bought a new Lumia 1520 about two months ago and it is awesome. It has all the social apps I use on my android, has a beautiful display and has a very easy to use operating system.

By the end of 2014, Windows Phone 8 series will really be competing with the droids and iOS.

 

[madooxno9]

Nokia = fail , though my best wishes Nothing was once better than nokia

 

[pursuit of happiness]

Nokia = fail , though my best wishes Nothing was once better than nokia

--
these are old gladiator.. just need good leadeship to see future and act

dont underestimate the power of NOKIA

 

[sree45]

Finnish telecommunications equipment maker Nokia today appointed India-born Rajeev Suri as its President and CEO. He replaces Stephen Elop, who has returned to Microsoft as the executive vice president of its devices group.

Here are five must-know facts about Rajeev Suri:

1. Earlier, the 46-year old was leading Nokia Solutions and Networks, the smaller network equipment unit of Nokia before the company sold its handset business to software giant Microsoft in a USD 7.2 billion deal.

2. Suri has a Bachelor of Engineering degree in Electronics and Telecommunications from Mangalore University. He is based in Espoo, Finland.

3. With more than 23 years of international experience, Suri has worked in strategy and mergers & acquisitions, product marketing, sales, major account leadership, regional and business unit leadership and has lived in the Middle East, Asia, Africa and Europe.

4. Suri joined Nokia in 1995 and headed the Asia Pacific region for NSN in 2007.

5. Like the newly appointed Microsoft CEO Satya Nadella, Suri is also a Mangalore University graduate. He joins the elite club of Indians heading global firms, which includes PepsiCo Chairman Indra Nooyi, Reckitt Benckiser Chief Executive Rakesh Kapoor, President and Chief Executive of MasterCard Ajay Banga and Anshu Jain of Deutsche Bank.

Rajeev Suri appointed Nokia CEO: Five must-know facts - Financial Express

 

[Skull and Bones]

They have really improved big time from the past. I just bought a new Lumia 1520 about two months ago and it is awesome. It has all the social apps I use on my android, has a beautiful display and has a very easy to use operating system.

By the end of 2014, Windows Phone 8 series will really be competing with the droids and iOS.

Have you tried Cortana personal assistance? It rivals Siri on many factor, and it has that humane touch.

 

[Tshering22]

Have you tried Cortana personal assistance? It rivals Siri on many factor, and it has that humane touch.

Cortana is in Windows 8.1 update which has not hit the market yet, man. But seen the videos. Hopefully when the update is posted for the phone, it will be good.