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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Eerie links between Harry Potter, bin Laden 02 May 2011 No proof Pakistanis knew bin Laden location: U.S. | 11:32am EDT Pakistan denies sheltering bin Laden amid U.S. skepticism | 11:38am EDT U.S. believes it can now destroy al Qaeda | 10:40am EDT Prince William back at work after royal wedding 11:39am EDT Discussed 166 Obama to make statement late Sunday, White House says 106 White House releases longer Obama birth certificate 104 Donald Trump calls U.S. leaders ”stupid” Watched Video of bin Laden compound fire Mon, May 2 2011 Osama bin Laden dead Mon, May 2 2011 Fire ants form rafts to defy floods Tue, Apr 26 2011 Nokia's chairman to step down next year Tweet Share this By Tarmo Virki, European Technology Correspondent HELSINKI (Reuters) - Nokia, the world's largest phone maker by volume, has started to look for a new chairman to succeed Jorma Ollila who will step down next year, Ollila said on Tuesday. Ollila led... Email Print Related News Nokia Siemens closes delayed Motorola deal Fri, Apr 29 2011 UPDATE 5-Nokia axes 7,000 jobs to cut costs Wed, Apr 27 2011 Nokia sees weaker times after strong first quarter Thu, Apr 21 2011 Apple phone revenues beat Nokia: Strategy Analytics Thu, Apr 21 2011 Apple phone revenue tops Nokia -Strategy Analytics Thu, Apr 21 2011 Analysis & Opinion Tech wrap: RIM shares dive ahead of BlackBerry World Tech wrap: Privacy storm strikes Sony, passes Apple Related Topics Technology » Media » Stocks A corporate logo is displayed at the Nokia flagship store in Helsinki September 29, 2010. Credit: Reuters/Bob Strong By Tarmo Virki, European Technology Correspondent HELSINKI | Tue May 3, 2011 11:12am EDT HELSINKI (Reuters) - Nokia, the world's largest phone maker by volume, has started to look for a new chairman to succeed Jorma Ollila who will step down next year, Ollila said on Tuesday. Ollila led Nokia's transformation from a rubber boots and TVs conglomerate into a mobile phone giant in the 1990s but the Finnish technology giant has recently lost out in the smartphone market to newcomers Apple and Google. , "It was a tough year, and I expect the year ahead to be a tough one too," Ollila told the annual shareholders meeting. "For a long time he did a great job at Nokia but then he made some mistakes that cost shareholders a fortune," said John Strand, founder and chief of Danish Strand Consult. "Under Ollila Nokia was slow in smartphone development, not active in the fight with Apple and Google and failed to succed in the United States," Strand said. Ollila joined Nokia in 1985, was chief executive between 1992 and 2006, and has been chairman since. He is also a chairman of Royal Dutch Shell Plc. Shares in Nokia were 0.2 percent higher at 6.31 euros by 1430 GMT. PAINFUL SMARTPHONE MOVE To turn around its smartphone fortunes, Ollila last year replaced his old colleague Olli-Pekka Kallasvuo with Canadian Stephen Elop, a unit chief from Microsoft. In February Elop unveiled a shift in strategy in smartphones by adopting Microsoft's unproven operating software in preference to Nokia's own Symbian platform. Elop on Tuesday reiterated that Nokia would receive billions from Microsoft as part of the deal, including substantial payments for the use of patents. Uncertainty over the success of the Microsoft deal has driven Nokia shares down 25 percent since the deal was unveiled, and the stock is trading at a mere third of what it was worth three years ago. "It has been very painful to be a Nokia shareholder for the past several years," said shareholder Pekka Voutilainen. Last week Nokia said it will axe 7,000 jobs, including outsourcing its Symbian software development unit, to cut 1 billion euros ($1.48 billion) in costs. ($1=.6773 euros) (Editing by Greg Mahlich) Technology Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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