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Nokia chairman warns of slow progress for 'a significant part' of 2012

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Nokia's outgoing chairman Jorma Ollila has warned that it will take time for the company to see positive results from its transition to Windows Phone, but remains optimistic over the long-term prospects.

Nokia Lumia 900
Nokia Lumia 900

Nokia's shift to Windows Phone kicked off with a quarter in which the company lost $1.2 billion and saw smartphone sales decline by 31 percent, and outgoing chairman Jorma Ollila is warning that it's going to take a while to see much improvement. In comments made to Finnish national broadcaster YLE, Ollila expects to see the effects of the transition "for a significant part of the year", though Nokia hasn't officially forecast beyond the first quarter. The company remains bullish on the prospect of eventually becoming a major player in the modern smartphone world, with Ollila saying that the slow start was expected, and that Nokia has "a very good chance" of becoming one of the three dominant manufacturers. For its part, Microsoft seems more than willing to help Nokia on its way, so we wouldn't want to bet against their Windows Phone collaboration just yet.