Nokia (NOK) Holders Get Vocal About Failing Windows Phone; Elop Firm on Decision
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Nokia (NYSE: NOK) shares are ticking higher following the company's annual general meeting on Tuesday, as some shareholders became vocal about the company sticking with Microsoft's (Nasdaq: MSFT) Windows Phone platform.
Reuters quoted one shareholder as saying to Nokia CEO Stephen 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."
Amid the dissent, Elop averred that Nokia would be continuing with Windows Phone for the foreseeable future. He commented, "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. And it is with that that we will compete with competitors like Samsung and (Google's (Nasdaq: GOOG) operating system) Android."
Notably, Elop worked at Microsoft just before joining Nokia in 2010.
Analysts have also been critical of the Espoo, Finland-based company. Having sold 5.6 million Lumia handsets last quarter, up from 4.4 million the prior quarter, Nokia's market share is just about 5 percent. Many suspect that Nokia should focus on grabbing more of the low-end smartphone market. Competition still lingers in that segment, but the company's Asha line has been well received.
Shares are up 4.3 percent.
Reuters quoted one shareholder as saying to Nokia CEO Stephen 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."
Amid the dissent, Elop averred that Nokia would be continuing with Windows Phone for the foreseeable future. He commented, "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. And it is with that that we will compete with competitors like Samsung and (Google's (Nasdaq: GOOG) operating system) Android."
Notably, Elop worked at Microsoft just before joining Nokia in 2010.
Analysts have also been critical of the Espoo, Finland-based company. Having sold 5.6 million Lumia handsets last quarter, up from 4.4 million the prior quarter, Nokia's market share is just about 5 percent. Many suspect that Nokia should focus on grabbing more of the low-end smartphone market. Competition still lingers in that segment, but the company's Asha line has been well received.
Shares are up 4.3 percent.
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