Last Stand For Nokia? (NOK)

Nokia

CEO Stephen Elop put out a memo to Nokia's employees that essentially ripped the company into shreds, and said things needed to change fast. Elop described the company as a a ‘burning platform,' and said that "we must decide how we are going to change our behaviour.” Elop was referencing Nokia's efforts in the smartphone market, as the company is distant compared to Apple

and Google

in terms of market share. Nokia's offerings such as Symbian, Maemo and MeeGo have flopped terribly, and Elop is trying to compete with these two tech titans. He goes on to say that Nokia is way behind these two companies, but he does offer some hope, in the form of an announcement made tomorrow. “When we share the new strategy on February 11, it will be a huge effort to transform our company,” he said. Here is the

In an interview with

Ben Wood, an analyst at CCS Insight, discusses the outlook for Nokia Oyj. At last check, shares of Nokia were off 79 cents to $10.94, a loss of 6.7%.