Change before it’s too late, Nokia investors warn CEO

Windows gamble isn’t paying off, they claim

make Android phones instead

Angry Nokia shareholders have warned the company’s CEO, Stephen Elop, that time is running out to turn the Finnish manufacturer around.
Since Elop abandoned Nokia’s own Symbian operating system in favour of the Windows Phone platform in 2011, the company has had little success in denting the smartphone duopoly of Apple and Samsung. Elop, himself a former Microsoft executive, was criticised at the time for gambling the future of Nokia with an untested platform. Yesterday (7th May 2013), at the phone maker’s AGM, investors rounded on him again – calling on him to start making Android handsets instead.

Referring to his Microsoft gamble, one investor commented, “The road to Hell is paved with good intentions. Please switch to another road.”

However, Elop reaffirmed his commitment to Windows, claiming there was no alternative.

He told the meeting, “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, and it is with that that we will compete with our competitors.”

Meanwhile Nokia continues to be hit by competition from rivals, particularly Samsung which in Q1 2013 is reckoned to have sold 106.6 million phones; up from 92.5 million last year.

By comparison Nokia’s market share declined during the period to 16 per cent from around 22 per cent in 2012.

But for Nokia watchers, there is still some hope. The company’s recent quarterly sales of 5.6 million for its high end Lumia’s, running Windows, came on the heels of the prior quarter’s 4.4 million.

About Dave Evans

Dave Evans was a long established commentator on both the IT and cellular industries. His last focus was on share price trends within the sector. He passed away in September [2014].
This article was published in Financial, Samsung, WP8, Windows Mobile, android, mobile news, nokia, symbian and tagged , , , . Bookmark the permalink.

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