Nokia's (NOK) Elop Basically Apologizes for Not Going with Android (GOOG) (MSFT)
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Nokia (NYSE: NOK) shares are indicated lower early Thursday following some dire comments from CEO Stephen Elop issued earlier.
In an interview with the Finnish daily news source Aamulehti, Elop said Nokia could have done some things different over the last year-and-a-half, "had we known that the industry was changing so rapidly."
Elop highlights one of the bigger challenges as being the steep price drop of Google (Nasdaq: GOOG) Android devices in China. The fall was so rapid, Elop said Nokia had little time to respond.
Basically, it appears Elop is really saying Nokia is sorry for not going with Android in the first place.
Shares fell to multi-year lows Monday following announcements last week Microsoft's (Nasdaq: MSFT) new Windows Phone 8 would not be compatible with current models. Along with the introduction of its Symbian-based 808 PureView smartphone (Nokia is phasing out Symbian in favor of Microsoft's OS), investors have had little in the way of reassurance to keep them in the stock.
Nokia is down about 1.4 percent ahead of the bell.
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In an interview with the Finnish daily news source Aamulehti, Elop said Nokia could have done some things different over the last year-and-a-half, "had we known that the industry was changing so rapidly."
Elop highlights one of the bigger challenges as being the steep price drop of Google (Nasdaq: GOOG) Android devices in China. The fall was so rapid, Elop said Nokia had little time to respond.
Basically, it appears Elop is really saying Nokia is sorry for not going with Android in the first place.
Shares fell to multi-year lows Monday following announcements last week Microsoft's (Nasdaq: MSFT) new Windows Phone 8 would not be compatible with current models. Along with the introduction of its Symbian-based 808 PureView smartphone (Nokia is phasing out Symbian in favor of Microsoft's OS), investors have had little in the way of reassurance to keep them in the stock.
Nokia is down about 1.4 percent ahead of the bell.
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