Nokia in a "do or die situation"

Nokia's chief executive Stephen Elop has warned its staff that Nokia must change or be burned alive.The chief executive compared Nokia with a man standing on a "burning platform" who is forced to decide whether to stand still and be burnt or dive in to freezing cold water.

Further the chief executive said Nokia was falling years behind in the lucrative smartphone market which is dominated by Apple and Android. He said it was unbelievable that Nokia did not have a device to rival Apple's iPhone.

Nokia has been struggling to retain its share in the United States and Europe due to intense competition and ever increasing popularity of Android phones and Apple's iPhone. It is rumored that Nokia will announce a major strategy change on Friday, Possibly announcing Windows 7 OS for its devices