Nokia's board supports CEO Stephen Elop
0. phoneArena 28 Jun 2012, 14:51 posted on
Despite a stock price at a 16 year low, Nokia chairman Risto Siilasmaa says that the board of the Finnish handset manufacturer stands fully behind Elop; the chairman credits Elop for getting Nokia's new Windows Phone based Lumia handsets into the marketplace quickly...
This is a discussion for a news. To read the whole news, click here
1. hepresearch (unregistered)
I have spent well over a year hoping for Nokia to recover and be successful again. Yet, at every turn, disaster is the result of every change and every effort. Nearly everything has been done in what seems such a ridiculous fashion, and yet we still have Elop and Board members saying how "quickly" everything was done, making excuses for why "everything had to go this way and ONLY this way", and explaining to us just how well Elop has done everything...
So, does the Board support Elop?
Obviously, yes... even to the death, apparently...
3. hepresearch (unregistered)
It looks to me as though Nokia will not survive long enough to release a Windows 8/RT/Phone 8 device. All indications are that Microsoft is rumoring-up a WP8 device of its own to go along with the Surface tablets, behind the backs of Nokia and other licensee OEM's, and Microsoft has already refused to bail-out or purchase Nokia altogether. With their patent portfolio valuation being revised in a declining direction rather quickly, all that is left is for Nokia to sell or liquidate before the patents are less valuable than their market capital. Otherwise, it will be an epic bankruptcy dissolution while their investors finally sue the corporate officers for everything they're worth...
This mobile-market gladiator is about to get the thumbs-down.
10. AppleConspiracy (Posts: 637; Member since: 18 Oct 2011)
Elop is Microsoft's mole actually. He destroyed Nokia from the inside. Great job indeed!
11. PhoneArenaUser (Posts: 5498; Member since: 05 Aug 2011)
I wouldn't be surprised if one day Microsoft buy Nokia with all Nokia's patents. Maybe it is the case.
13. qwertypoor (Posts: 72; Member since: 09 Jun 2012)
Your a pathetic idiot Microsoft already said there not making there own pnone you probably won't believe that but you hear a rumor and you'll run with it lol and Nokia will survive long enough to release a windows phone 8 devices
27. kanagadeepan (Posts: 892; Member since: 24 Jan 2012)
They also once told, all recent WP7.5 devices will get WP8 and now you know what happened... The same applies for this case...
33. AppleConspiracy (Posts: 637; Member since: 18 Oct 2011)
Yes, MS was also so confidently wrong when they said they won't make tablets either, and that was in March of 2011. Not just that they won't make tablets, but they don't believe in tablets in general...
41. hepresearch (unregistered)
Woohoo! I'm an idiot! Oh, wait, I mean a "pathetic idiot". How awesome is that...
Actually, from my experience, the more often and vehemently a rumor is denied, the more often it seems to turn out to be true.
15. jmoita2 (Posts: 930; Member since: 23 Dec 2011)
Yet, at every turn, disaster is the result of every change and every effort.
Almost the same words to the letter from my grand dad who served in the Italian Army in WWII...
24. hepresearch (unregistered)
The Italian Army was indeed a tough place to have to be in WWII.
26. steelicon (Posts: 317; Member since: 02 Apr 2011)
Fatten the pig before the slaughter - good idea.
42. hepresearch (unregistered)
More like starving the pig until it keels over dead...
Stalin did this to the Ukraine in the 1930's... it was decreed illegal to eat or possess food in the region for two whole years. Seven million people were starved to death without occupation troops having to fire a single bullet. It was considered "the greatest of successes" by The Party and their Fearless Leader.
If you really honestly take some time to read history, you will start to see it being repeated all around you, in different ways and contexts, these days.
2. akita256 (Posts: 80; Member since: 26 Jan 2012)
Apparently. If I were Chairman, he would have been gone a long time ago.
6. TROLL.ISAHA (banned) (Posts: 535; Member since: 28 Mar 2012)
He's a bribe. He killed his own platform for WP...
4. Muhannad (Posts: 455; Member since: 20 Sep 2011)
The only sensible explanation I can deduce from the board supporting Elop is if he has shared with them a plan for future competitive handsets and a great marketing plan.
5. TROLL.ISAHA (banned) (Posts: 535; Member since: 28 Mar 2012)
He dislikes high-end hardware. Doesn't like to give customers
high spec items in his phones.... also Nokia always had
mid range components inside there phones! Well Nokia
is done and dusted, you should be joining BB down the road!
I use to love Nokia till Android 2.3.3 came in and took the
world almost by storm, along with the iPhone. WP7 and
WP8 are both a big fail......
8. 7thspaceman (Posts: 1514; Member since: 14 Feb 2011)
Windows 8 is a game Changer for Nokia smart phones because it enables the Windows metro interface to run on cutting edge Electronic components and it has new soft ware features windows 7.5 MangtTango smartphones can not do. such as being part of a unified Microsoft NT OS that is used from smartphones all the way upto powerful Microsoft Servers
9. TROLL.ISAHA (banned) (Posts: 535; Member since: 28 Mar 2012)
But still RESTRICTIONS....
and its no way near Android. Root. Kernels. Rooms. Etc....
12. TheRetroReplay (Posts: 254; Member since: 20 Mar 2012)
I'm actually surprised that Microsoft said that they weren't going to buy Nokia. It's amazing that they're all just beating around the bush as their company fails. It reminds me of that movie "Other People's Money" where the Larry the Liquidator buys the company then using his voting power to liquidate the assets.
14. Johnnokia (Posts: 1059; Member since: 27 May 2012)
You can get everything from the last sentence .
"The handset manufacturer has seen its shares drop 80% since Elop became CEO in 2010."
16. AhmadAlsayegh (Posts: 288; Member since: 18 Jul 2011)
Well, those blaming the chairman and the board of directors, should know that those people are elected by share holders...so i would assume that share holders support the board.
last time i mentioned that Nokia now have to change its structure to support its new strategies, and apparently this is what is happening.
When a critical change occurs within an organization, people inside and outside the organization will react (in this case Nokia), a small number of people will directly support that change...many people will be observers and will accept the change after sometime...a small number of people will keep resisting and refusing the change...
People should understand that Nokia made this step after lengthy analysis and studies, they had threats out there from Apple and android, and it had some weaknesses inside shown in Symbian and probably meego (lack of developers support), and apparently this leaded them towards MSFT which didn't have enough attention from OEMs, and Nokia though they could star in that, another reason was MSFT injecting 1 billion in Nokia...all makes sense to me tbh
20. hepresearch (unregistered)
And so, Nokia loses $38 billion of its own stock valuation (diving from $15.12 per share, in Feb 2011, to $2.10 at today's NYSE close) in order to obtain $1 billion of Microsoft's cash... and now it has become clear that Microsoft is more than capable of stabbing its OEM licensees and partners in the back by stealing their ideas and competing with them directly. Nokia's maps are now a free gift to Microsoft's platform, and all the other OEM's who want to use it. Microsoft's billion was a very very expensive billion for Nokia, and it doesn't look like Nokia's new-found loyalty to Microsoft is getting a whole lot of loyalty from Microsoft in return. If the OEM-rage snafu with the Surface tablet is any indication, it is entirely plausible that Microsoft will spit Nokia out after using Nokia's ideas to develop their own proprietary devices. After all, Microsoft has had a history of "great artistry" and back-stabbing in-general since the beginning. Does it still "all make sense" for Nokia to give up that much just for a billion in cash and a little involvement in Windows Phone Mango/Tango/8 development?
34. AhmadAlsayegh (Posts: 288; Member since: 18 Jul 2011)
Whether people were seeing it coming or not, Nokia's share price was dropping. Nokia was losing huge market share, no proper OS, and not so creative marketing team. They needed MSFT's marketing capabilities and their infinite financial injection to their new OS. Now let us not forget that WP7 was the transition phase where the new Metro look was introduced. I, personally, believe that they were laying the bases for the incoming W8, making people and developers ready for the new looks and echo system. If Nokia went with Andriod, they might have had their stock dropping even more; for the very capable OEMs in that market. And what if they decided to continue with their own OS? They would have never kept up with the other two! Well, maybe Symbian could, but not anymore, it was too late.
Let's not blame it all on Elop, when he arrived, Nokia was already taking lose since 2008. Long term direction and existing of Nokia is > fast cash and short term profits
39. hepresearch (unregistered)
Symbian was a proper OS until the iPhone showed up. Nokia decided to ignore that one, hoping it would vanish on its own. Then Android showed up, and Nokia went WinMo Pro look-alike on us with S60 5th Edition...
Microsoft's financial "injection" has been far from "infinite"... 1 billion dollars shelled out to Nokia, and in return they have gotten Nokia Maps as a house-warming gift as Nokia collapsed by over $30 billion in valuation. That collapse was already happening gradually, yes, but this event made it all happen at once, in big falls. So, Elop is not totally responsible, and certainly not for anything before his arrival, but that doesn't make him less of a plant to bring what was left down. Pre-Elop, the Board gutted the company by failing to do anything about iOS and Android, and after Elop... Elop has clearly been part of a decision to condemn and buldose the hollow shell to the ground.
17. Stuntman (Posts: 835; Member since: 01 Aug 2011)
I certainly did not want to see Nokia take the route that they did in the past year and a half. However, I don't feel I am qualified to run a company such as Nokia. As much as I disliked Elop's decisions, I'm not sure if another course of action will have had a better result over the next few years. It will take more time than has already past to turn things around. I'm interested to see if he can pull off a big turnaround for Nokia.
18. allen83 (Posts: 107; Member since: 01 Mar 2012)
Good Luck Nokia I hope your brand does not fade away or degraded again in 2013. Iwas hoping to have a Nokia phone with its uniqueness not having a Windows phone that is surely not unique to Nokia
19. snowgator (Posts: 3554; Member since: 19 Jan 2011)
I made the observation about a month ago that the board absolutely supported Elop, his plans, and did so before hiring him.
So, if by 2014 Nokia is profitability, secure, and still completely independent, how many on this thread will still be posting and willing to give this devil his due? If Nokia was going to be bought out, my observation is this is the time. WP8 is MS mobile piece of the puzzle. Their ecosystem needs it. They need a strong OEM, they need Nokia. They will not purchase Nokia and put their Windows 8 launches in a weak spot.
I am still saying Nokia is a more profitable, better run company for WP due to it's lower R&D. Yes, Symbian should have been a part of the equation. But Nokia will be fine.
22. hepresearch (unregistered)
If this turns around for Nokia, and Elop is proven to be the genius behind their short-term-future (2013/2014/2015) rise from the ashes, then I will be the first of the critical posters here to stick my foot into my mouth... and then keep shoveling it in half way to my trachea...
Either Nokia actually IS gagging on a puddle of its own corporate-failure-vomit right now, or I will be the one choking on these words no more than a few years from now.
21. aoikemono27 (Posts: 177; Member since: 27 Feb 2012)
I dont know how microsoft can eat all the losses of its windows phone push. The dvelopment and marketing cost billions just for wp7 alone, and billions more are being offered to nokia to retain their partnership. Now that the lumias are out and sales re still disappointing, mayb micosoft is trying to cut their losses. Imagine what apple or google could do to improve their current os with that kind of money being thrown away so recklessly.
35. snowgator (Posts: 3554; Member since: 19 Jan 2011)
When you say "eat the losses", you may not see the big picture for a giant like MS:
1) They have billions in capital, billions coming in from their current product lines (Windows XP, Vista, and 7 all still in production and selling support software, the XBOX, Windows Office, add revenue from Bing, about a hundred other products I am not even thinking about).
2) They were in the profits from Windows Mobile when they pulled the plug. That went to R&D for WP7 & 8.
3) They are using WP7 to help get their tablet launches right. That is their ultimate goal to own the tablet industry the way they own PC/Laptops/notebooks right now, especially for professionals.
4) Money loss? COOL!!! TAX WRITE OFF!!!!
23. InspectorGadget80 (unregistered)
I think the board and CEO should resign after laying off so many people that do hard work on the SYMBIAN. and yet line they sold their soul to M$ and their still not even going to update their NOKIA LUMINA 900 series to windows 8.
25. allen83 (Posts: 107; Member since: 01 Mar 2012)
Hi Hepresearch! Can i ask you does the Lumia line in your country a popular device? Cause in our country Lumia does not register to our taste. Maybe to a few people but majority not a good one.
37. hepresearch (unregistered)
I have only had one friend try a Lumia device so far, a Nokia Lumia 710 on T-Mobile. He liked it just fine, gave it great praise, and used it for four months with no complaints at all, but many of our mutual friends were able to convince him over time that the Lumia is not an adequate replacement for an iPhone, and so he cancelled his T-Mobile service and paid the termination fee so he could switch to AT&T, where he bought an iPhone 4S. Now, he says that the iPhone is basically just as useful to him as the Lumia was, but is seen much more favorably by his coworkers and friends. He got a promotion to department head very shortly after making the switch, which he credits partially to his getting the iPhone to improve his career image. He managed to finally sell the Nokia on craigslist earlier this month. It took him two months just to sell the thing, and he had to discount it heavily to do so... at $50, he finally found someone willing to take it off of his hands. He said the Lumia works great, but had to go in the end because it put a damper on his business image. Thus, I must say that, at least around here in southern Pennsylvania, the answer to your question is "no".
28. kanagadeepan (Posts: 892; Member since: 24 Jan 2012)
A good Tr0janH0rse is one who NOT only weekens the enemy team without them knowing, but also should act well like HE IS THE ONLY ONE SAVIOUR OF THEM...
Well done Stephen El0p....
29. anshul0000 (unregistered)
"The handset manufacturer has seen its shares drop 80% since Elop became CEO in 2010."
this means he is the dumbest ceo in nokia's history........he is like a parasite...he is killing nokia from the inside..
38. hepresearch (unregistered)
Dumb? No... this was well thought-out, planned, and orchestrated perfectly. The fact that we are all here, still debating whether this will be good for Nokia long-term, or whether Elop is stupid, or whether Elop could have made better decisions if he knew more, is evidence enough of that. This stuff did not happen by accident, and Elop is NOT stupid... he knows exactly what he has done, and is just tying up the loose ends as we speak so that he can hang this around the right person's neck, wash his hands of the whole package, and then walk away.
43. TROLL (banned) (Posts: 4851; Member since: 13 Apr 2012)
Good bye Nokia... No 1 wants or likes there platform nor there outdated midrange low spec phones....
30. jlscott777 (Posts: 45; Member since: 10 Feb 2012)
So after reading all of the previous posts I can assume that none of you are, have never been, or ever will be a CEO of an electronics company. I own a Nokia N8 which I find quite adequate for my needs and even though I feel the Mr. Elop decision to suspend Symbian as Nokia's prime OS should have been just a little more gradual his decision to go with Microsoft was the only logical course of action he could have taken under the Circumstances, so get over it, I do not think they will fail with this course of action if they really bring in some great WP8 devices.
40. hepresearch (unregistered)
"So after reading all of the previous posts I can assume that none of you are, have never been, or ever will be a CEO of an electronics company."
And regarding myself, THANK GOODNESS I'm not a CEO of an electronics company! If that is the mark of how all good business in the electronics manufacturing industry is properly done, I think I might have had an aneurism from the stress and ridiculousness of trying to fight the "industry standard" of "good business operation"...
31. anshul0000 (unregistered)
the idiot killed meltemi & meego....meego was beautiful..the only strength of nokia was the maps application which is a part of windows 8 now...
32. jlscott777 (Posts: 45; Member since: 10 Feb 2012)
So you have never been a CEO either, thought so.
36. lubba (Posts: 1313; Member since: 17 Jan 2011)
Thought he was a douche bag not because he chose WP but because he was lippy in regards to other platforms. Now I like him because he admit his wrongs and strives to change for change.
44. downphoenix (Posts: 3154; Member since: 19 Jun 2010)
Microsoft probably promised them a big bonus to play along with Elop's trojan horse scam that will eventually make Nokia a part of MSFT.
45. jack1059 (Posts: 72; Member since: 31 Mar 2012)
Ah, its not elops fault. The problems were there way before he showed up. That's like blaming the fact that your house is on fire on last years weather. Leave the transition to another os aside, and you see nothing but downright stupid decisions / statements from day one. Putting out the burning platform memo (pretty much guaranteeing the os which is paying your bills tanks), killing meego (flushing all that development cash down the crapper), refusing to release the n9 in anything but minor markets despite great reviews (see previous), partnering with ms exclusively (no plan b - there are no guarantees in the marketplace no matter what size your new partner is), ignoring the fact that most partnerships with ms end up with ms getting what it wants and the partner getting screwed (see the announcement of the wp8 pretty much guaranteeing no one will buy nokia's lumia line. why should I when a new and better os is imminent. And the recent tablet announcement, which tanks nokia's announcement of the same strategy. Yeah ms loves you nokia and your getting a 'special' relationship in partnering with them). I could go on, but I give. Nokia is a dead man walking in my opinion. The only thing they have left is their patents . Everything else is sold and everyone who mattered is fired.