Nokia CEO Stephen Elop is on the ‘road to hell’ according to one company investor
Despite recent speculation that Nokia needs to look for a different strategy, Nokia plans on remaining focused with Microsoft’s Windows Phone platform and plans to take on Samsung and Android. However, Nokia’s investors are not to happy and have some harsh words to say.
During Nokia’s annual general meeting in Helsinki, Nokia’s investors had some harsh words to say about the CEO, in regards to his attempt at taking on Samsung and Android. “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,” one shareholder by the name of Hannu Virtanen told Nokia CEO Stephen Elop.
Well, if Nokia is on the road to hell, why invest with them? Apparently, some older shareholders admitted that they held stock in the company due to sentimental value, since Nokia symbolized “Finland’s rebirth” after the collapse of the Soviet Union in the early 1990s. Hardly being on the road to hell, Nokia recently reported sales of $7.6 billion dollars and 5.6 million Lumia devices sold in the first quarter of 2013.
Elop isn’t changing his mind and still plans on using Microsoft’s Windows Phone platform to take on Samsung and Android. “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 operating system) Android,” Elop added.Nokia, Windows Phone