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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Pressure mounts on Nokia CEO as Q2 earnings plunge AFP - Friday, July 23 Send IM Story Print Pressure mounts on Nokia CEO as Q2 earnings plunge Slideshow: Full Photo Coverage: Personal Technology HELSINKI (AFP) - – Nokia's chief executive came under increasing pressure Thursday, as the world's biggest mobile phone maker saw its earnings slump in the face of competition from Apple and RIM in the key smartphone segment. CEO Olli-Pekka Kallasvuo, who according to the Wall Street Journal could soon lose his job because of his inability to hike Nokia's performance in the competitive smartphone market, called for an end to rumours about his departure. "There has been a lot of speculation on my position, on myself, during the last couple of weeks and that is not good for Nokia and must be brought to an end one way or another," Kallasvuo told CNBC television Thursday. "At the same time, I'm not in a position here and now to really shed any more light on the topic so I guess this is a no comment. I really concentrate now on the task at hand," he said. From April to June, Nokia posted a net profit of 227 million euros (290 million dollars) in the second quarter, down 40 percent from 380 million euros for the same quarter last year. The Finnish company's net sales were up 1.0 percent on a year-to-year basis to 10.0 billion euros, and sales in its key devices and services unit were up 3.0 percent on a year-to-year basis to 6.8 billion, but down 2.0 year-to-year in constant currency. Nokia said it had sold 111.1 million devices in the second quarter, up 8.0 percent on a year-to-year basis. But its market share stood at 33 percent, down 35 percent from last year and equal to the first quarter, while the average selling price of its devices was down to 61 euros from 64 euros a year earlier, a drop attributed to a higher proportion of lower-priced phones sold and price pressure on certain smartphones. Nokia continues to lead the cellphone market, but is under pressure from the likes of Apple's iPhone and RIM's BlackBerry in the high-end segment, with competitor phones seen as faster and easier to use then Nokia's, which are based on outdated Symbian technology. Kallasvuo acknowledged the challenge, telling CNBC it was "very clear that the smartphone segment (needed) more attention." In the earnings report, he lauded the new smartphones working on the Symbian 3 platform, which has been delayed, as a way for the company to fight back in the smartphone market. "We are confident (Symbian 3-equipped smartphones) will give the platform broader appeal and reach, and kick-start Nokias fightback at the higher end of the market," he said. A lawyer by profession, Kallasvuo took the Nokia top job in 2006, a year before Apple created waves in the smartphone market with the launch of its iPhone. Analysts predict he might not be there for another year. "He will leave ... When the rumors (about his departure) came out, Nokia stocks went immediately up. Investors have been frustrated for quite a long time now," Carolina Milanesi of Gartner told AFP, suggesting September as a possible date for the introduction of a new CEO. She warned however that "its not easy to find a CEO for a company as big as Nokia, who knows about software, services and products, and can fit in a Finnish culture." Nokia forecast its devices and services sales for the next quarter would total 6.7 billion-7.2 billion euros. Kallasvuo said the second quarter earnings gave reasons to be optimistic. "Despite facing continuing competitive challenges, we ended the second quarter with several reasons to be optimistic about our future. For one, the global handset market has continued to grow at a healthy pace, led by some of the less mature markets where Nokia is strong," he said. Gartner's Milanesi said Nokia's fourth quarter would be a bit better, but that a real turn-around would not come before the second half of 2011. Shares in company, which had recently plunged to their lowest level in 12 years, were up 2.72 percent to 7.17 euros on a Helsinki Stock Exchange up 1.69 percent at around 1500 GMT. 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