Nokia CEO Stephen Elop sells all his Microsoft shares

Nokia CEO Stephen Elop sells all his Microsoft shares
Nokia's investors and devoted fans were reasonably concerned when Stephen Elop was appointed the new CEO of Nokia. After all, he was a former employee of Microsoft, and possessed 130,000 Microsoft shares valuing US$3 million. The concern was that Elop was implanted with the intention of guaranteeing a Windows Phone 7-Nokia collaboration.

Nokia devotees shouldn't be concerned. Stephen Elop is in the process of selling off all of his Microsoft shares. He explains that when he first moved from Microsoft to Nokia, he was legally prohibited from selling his shares. He started to sell them off, but was again prohibited during the negotiations between Microsoft and Nokia.

Elop has made it clear that he is selling all of his Microsoft shares. In fact, he has purchased 150,000 shares in his new company. Elop assured the media that "We made sure the management team was involved in the process, and of course the board of directors of Nokia are the only ones that can make this significant of a decision about Nokia."

But beyond Stephen Elop, what do you think about a Nokia-Microsoft collaboration? Will Symbian be missed, or is Windows Phone 7 a good match for your Nokia device?

source: Symbian Freak

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19 Comments

1. ATTCallCenter unregistered

WP7 is a flop

15. Krista unregistered

WP7 is an fElop?

2. ribbonsalmark

Posts: 84; Member since: Jan 06, 2011

LOL. He is selling cause he sees a major price drop coming to microsoft when Nokia WP7 flops.

3. vvelez5

Posts: 623; Member since: Jan 29, 2011

Symbian will be missed yes, but it was time to move on. But to WP7? That's where the issue lies. Many people don't believe that Elop selling his Microsoft shares mean he is dedicated to Nokia standing on it's own. I mean what happens if Nokia tanks even more and Microsoft buys it? Doesn't Elop get money from those shares if/when Nokia sells? Of course that is purely speculation, though many people including myself believe it to be probable. I've said it before on comments relating to this but why didn't Elop give Meego a chance on Nokia handsets?

4. TKFox007

Posts: 303; Member since: Nov 02, 2010

He's trying to get the majority of Nokia's controlling stock so he can sell it to Microsoft.

6. John unregistered

Ohh the ignorance.... First, 150,000 shares of Nokia accounts to about .004% of all Nokia shares available in the NYSE. Second, He would need to own 1,870,000,000 shares to even control half of the company. Third, Nokia is a Finnish company. Aka in the EU. Meaning there are restrictions on how much ownership a foreign company can have.

11. snowgator

Posts: 3614; Member since: Jan 19, 2011

Think it was kind of joke. Just guessing.

5. snowgator

Posts: 3614; Member since: Jan 19, 2011

Okay- my imagination- or does that picture look like Al Franken???? Be afraid, Nokia, be very afraid....

7. Crucial unregistered

Why are all of you so rigid. At least give WP7 a chance. You've never tried it yet. Don't let your fanboism take over your rationality.

9. vvelez5

Posts: 623; Member since: Jan 29, 2011

Ive tried WP7 and its meh as best

8. rafaelinux

Posts: 31; Member since: Jun 29, 2009

WP7 is absolutely the worst OS around for Nokia.

10. Crucial unregistered

From the way I see it, people here are really extreme. So what if Symbian is going extinct? Give WP7 a try before jumping to conclusion. Who knows, you might dual-actually like how simple and how friendly the overall presentation is. At first I was also very skeptical about WP7 until I've tried it myself. Sometimes we need to adapt. Elop bought 150,000 shares and let go of all his Microsoft shares for a reason. To me, I think it is to show the employees about his sincerity. That way, all of them will be motivated to find ways to save Nokia from sinking. Symbian was practically sinking Nokia corp. as a whole. I will definitely be buying one of Nokia's WP7 provided they have top notch hardware (dual-core processor and 768-1GB RAM, 1.1GB ROM) and of course the much beloved CBD AMOLED display. Go NOKIA!!

12. superpooburger

Posts: 31; Member since: Feb 17, 2011

symbian wont be missed. It was crap, never liked the soft. But nokia will be missed. This will definetly change the nokia. Its hard to belive that after these changes they still will be able to provide great product with great value (old win mo and adro phones couldnt provide these 2 options)

13. Saad073

Posts: 13; Member since: Dec 10, 2010

How is WP7 worse than Android phones that you have to hack so that you get the latest features you SHOULD be getting? How is WP7 worse than Android phones that need dual core processors to be decently fast and responsive? How is WP7 worse than Android phones that have hundreds of thousands of apps, but all of them look different from each other and disturb what should be a cohesive experience? I used to have Android and I really did enjoy my time with it. But at the same time, it was a double edged sword and I wasted hours of my life customizing it and loading custom ROMs just to be getting the functionality I should have already been guaranteed when I bought the phone and signed a contract for two years. I decided to go for a Samsung Focus and while it doesn't have as many apps or as many features, I'm still really happy with it. But I suppose WP7 isn't for everyone. It's just that people should be open minded enough to at least try it before bashing it.

14. Bob unregistered

killing symbian was a smart move they have had three years to adapt and still the user interface is not even close to the original iphone. WP7 is a fun os but still lacks to many features. Best move would have been to be open minded not just put all your trust on one os since if that flops Nokia is not going to recover.

16. Joe unregistered

That man should be in prison. It's amazing what we let people get away with.

17. ps316

Posts: 19; Member since: Oct 19, 2010

I really don't think why people are taking it on a wrong note. Only buzz you people are making is because Elop is ex-employee of Microsoft that's why he is preferring WP7. If it would have been someone else also even then moving to WP7 would have been the best decision. No one really felt anything about burning platform. Samsung did it right way by continuing with Bada and adopting Android and WP7 along with that. This is where Nokia took wrong step by just continuing with Meego which is still not in the market. Choosing android would have been not so wise decision because they wanted to build another Eco-System beyond iOS and Android. That's why they choose WP7 which is lagging behind a bit but still very promising platform and because of ease of development on .Net Silverlight. We are very keenly waiting for outcome from this merger. Thanks, Prady

18. moT unregistered

Does it matter really? In 3 years, all nokia shares will be microsoft shares anyway. WP7 is a *downgrade* from Symbian. Any other OS would be a better choice. There is absolutely 0% change I am buying a WP7 nokia phone.

19. toM unregistered

Does your comment matter, really? In 3 lines you defined what an idiot you are. You have no idea what shares are and mean, and clearly, you can't even spell. There is absolutely, and I quote, "change" that Nokia would be missing a customer like yourself.

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