Its going to be a big day for Nokia on Wednesday when its Chief Executive Stephen Elop takes the stage at the Cell phone Maker’s annual conference in London to make a few important announcements which is seen as a desperate effort by Nokia to regain it stop in the market. It has been facing a stiff competition from Apple, HTC and Samsung in the smart phone sector.

Due to the criticism with respect to the Symbian software smart Phone which is termed as outdated and cumbersome by the experts. Hence, Nokia has signed a billion dollar deal with Microsoft to replace its software.

It is expected that the cell phone giant will make quite a few announcements with at least 3 to 4 smart phones being announced. One need to observe that the company has openly said that it will provide only few new features to reduce the delay to bring out the new products to the market, as the time to develop new features was costing the company its sales. Keeping this in mind it has decided to reduce the features. It needs to be seen if this will have any impact in terms of sales as Nokia is known to provide the widest range of features.

If the main purpose for what Nokia was known is not met then it surely is a main challenge for Nokia in the coming days.
Nokia has also made some important changes in terms of the managing faculty to provide wider scope for decision making, all this to improve the market of its products which has taken a beating in recent time. With the new changes, it takes them 35% to 40% less time to develop and make decisions. This saves the time and the product can soon be released into the market, maybe some 3 months early.

Nokia still remains the world’s cell phone producer in terms of volume but the profit has shifted to the smart phones where the iPhones and Android based phones are the market leaders. Ever since Apple announced its iPhone in 2007, Nokia has dropped by 66% in terms of sales. The availability of the cheap smart phones is also one of the reasons for the decline in sales. Around 10,000 jobs have been cut by Nokia to stay afloat.Nokia has also been working closely with US carriers Verizon Wireless, AT&T Inc. and T Mobile USA to make a comeback in the market.