Apple? Nokia joked about Apple iPhone a few years ago! HTC? Samsung? LG? All of them were small in mobiles a few years ago. It's not only innovation, but you must -in particular in consumer electronics- anticipate trends ~ 1-3 years in advance. Nokia was only running behind the marked for years. The problem is management of Nokia didn't get how much potential is in Maemo for future devices and visionary applications of all kind beyond Smartphones (that is lost for Nokia anyhow). Just think of future car2car networks, driving assistance systems, etc. Maemo has (had?) a good position in automotive applications - an interesting future market. I agree that Nokia had to increase cashflow, and hence had to use additional platform (WP7, Android, whatever). However, Nokia might have just added these platforms without destroying existing ones (Symbian, Maemo). Just slowly reducing Symbian development and moving towards Maemo or WP7 would have been more safe and more visionary strategy. The value of the Nokia stock just reflects this issue.