April 27, 2012 / 10:01 AM / 7 years ago

Nokia chairman-designate Siilasmaa buys 200,000 shares

HELSINKI, April 27 (Reuters) - Risto Siilasmaa, due to take over as chairman of Nokia on May 3, bought 200,000 shares in the struggling Finnish cellphone maker this week, according to an insider registry on the company’s webpage.

Siilasmaa, due to take over as chairman from Jorma Ollila, who made the Finnish boots-to-toilet paper group the world’s largest cellphone maker in the 1990s but is also criticised for letting Apple take the lead in smartphones.

The end of Ollila’s reign comes with Samsung Electronics having displaced Nokia as the world’s largest cellphone maker, a position the Finnish company enjoyed for 14 years. [ID:nL3E8FQABV} (Reporting By Tarmo Virki; Editing by Dan Lalor)

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