Jorma Ollila: Finn Fatale
Only a year ago, JORMA OLLILA'S Nokia Corp. was still viewed as something of a novelty: a Finnish company, of all things, that had forced its way into the top ranks of the booming mobile-phone business, joining Ericsson and Motorola. But make no mistake: Nokia's success is no fluke. In 1998, Ollila grabbed first place in global market share, registering record earnings while his competitors announced profit warnings and layoffs.
Ollila, 48, is a former banker who has quietly but firmly inspired his troops to transform Nokia--and Finland itself, for that matter--into a high-tech center. The results have been astounding. Nokia's profits jumped more than 70% in 1998. And over the past five years, sales have more than quadrupled, to $10 billion. Key to Ollila's success: outstanding phones with superlong battery life. Nokia's gains in market share have been powered by easy-to-use market winners, such as the nifty 6100, AT&T's first choice for its nationwide one-rate calling plan.
Ollila himself remains an enigma. Intense and competitive, he plays tennis regularly--but purely for exercise, shunning chat on the court. His management style is generous. He doesn't fire people, even if they screw up.
Truth is, though, screwups are rare. And Ollila is already pushing the next generation of products, mobile phones with links to the Web. That could mean going up against Microsoft Corp. But the market could be huge, and Ollila has already proved he isn't one to shy away from a good fight.
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