Nokia (NYSE:NOK) Getting Clobbered Even on its Home Turf

Nokia Corp. (NYSE:NOK) is in the fight of its life, and CEO Stephan Elop is ramping up the pressure, praising competitors like Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL) while castigating his people for their lack of leadership and accountability.

Elop said in a memo, "There is intense heat coming from our competitors, more rapidly than we ever expected. Apple disrupted the market by redefining the smartphone and attracting developers to a closed, but very powerful ecosystem. The first iPhone shipped in 2007, and we still don't have a product that is close to their experience. Android came on the scene just over 2 years ago, and this week they took our leadership position in smartphone volumes. Unbelievable."

Nokia has been losing share to Apple and Google in the high-end market and to the Chinese in the low-end market. China's ZTE Blade was the top-selling phone in Finland for the second month in a row.

Elop said he's going to reveal his plan for turning around Nokia (NOK) on Friday.

Nokia was trading at $11.46, up $0.18, or 1.60 percent, as of 12:04 PM EST.