The word hitting the net waves is that Nokia CEO Olli-Pekka Kallasuvo is under pressure from shareholders which could see the Nokia boss on his way out if Nokia can’t come up with a serious challenger to the iconic iPhone reports and article over on intomobile by way of Reuters.

The problem is Nokia’s track record in pushing out smartphones that can challenge the iPhone isn’t that good and Nokia will be one of the few to miss profit growth in 2010, and analysts are saying that Kallasuvo could soon be replaced.

Nokia pushed out details of their latest smartphone the Nokia N8 after Eldar Murtazin lambasted the device in his review, but according to the article the Nokia N8 has failed to impress.

As for the Symbian^3 operating system, the president of Alan B. Lancz & Associated, a wealth management firm which holds Nokia stock, has said, “Symbian^3 really concerns me. If next quarter we see these delays and declines in margins — the management will feel more and more pressure.”