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Nokia investors smash Windows

  • 08 May 2013
  • Written by 
  • Published in Mobility

Nokia CEO Stephen Elop came under heavy fire from angry shareholders at the company's annual investor's conference, with investors demanding the company change its Windows-only route.

"You're a nice guy ... and the leadership team is doing its best, but clearly, it's not enough," shareholder Hannu Virtanen told former Microsoft exec Elop, according to Reuters.

"Are you aware that results are what matter? The road to hell is paved with good intentions. Please switch to another road."

Reports from Nokia's annual general meeting in Helsinki are saying cranky shareholders asked Elop to consider approaching Google for an Android deal, even if it would "hurt."

Elop had previously said the company would take two years to implement its Windows-only strategy, but two years on and Nokia is still struggling to regain marketshare lost to Samsung and Apple.

Its share price is around the $3 mark, which used to be more like $60 ten years ago when Nokia was a dominant player.

Elop is standing firm, however.

"We make adjustments as we go. But it's very clear to us that in today's war of ecosystems, we've made a very clear decision to focus on Windows Phone with our Lumia product line," he said.

"And it is with that that we will compete with competitors like Samsung and Android."

Others were less convinced.

"He's managed to decrease costs but not to increase market share," Magnus Rehle, senior partner in Greenwich Consulting, told Reuters.

"Maybe they could go back to Google and say we also want to go with Android. Even if it hurts. Microsoft, they've had their chances, and are not managing to take off."

Similarly, Finnish pension fund Ilmarinen was less than impressed, telling Reuters that it had reduced its shares in Nokia by 27%.

At ThoughtWorks Live yesterday in Melbourne Asymco analyst Horace Dediu told attendees there was genuine room for Windows in the mobile space.

"20% of five billion mobile users is still a billion people," he said.

"There is definitely room for a third option after Android and iOS."


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