Shareholders Grill Elop Over Windows Phone Strategy

6

lum

According to Reuters and the Wall Street Journal Stephen Elop was subject to a bit of a grilling from Nokia shareholders who are becoming impatient at the rate which market share recovery is taking.

During the Annual Shareholders Meeting held on Tuesday 7th, one shareholder, named Hannu Virtanen told Mr Elop “You’re a nice guy…and the leadership team is doing its best, but clearly, it’s not enough. Are you aware that results are what matter? The road to hell is paved with good intentions. Please switch to another road”

Another is reported to have asked why Samsung is managing results “10 times better” than Nokia.

I think it is understandable that people with large amounts of money tied into any company will be anxious to see improving results, and with last years widely reported suspension of a dividend payment,  have every right to question the strategy which is being used.

That said, with big announcements due in the coming weeks, for Nokia to “switch to another road” now, could be seen as a huge waste of time and effort particularly at a point where Nokia produced Windows Phones are about to reach their pinnacle.

In response, Stephen Elop reaffirmed his faith in Windows Phone, saying “We make adjustments as we go. But … 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 competitors like Samsung and (Google’s operating system) Android”

Source arstechnica

Comments