Too bad it was Nokia that got ****ed in this situation. Paid Elop 6 million and all Nokia got was run into the ground.

So is it time now to say wp7 did not save nokia? Or are we now waiting for nokia to try out its hand in the tablet market?

Now is the time. The shareholders have spoken. These are not fans, fanboys nor armchair politicians. That group, in one way or another, are invested in actual stock of the company in ways that do not equate to idle talk.

This still isn't the best way to get things done; however it's the way that some of the more vocal parts have decided to go forward with airing out their grievances.

Part of me says bravo, the other part of me says that they've expedited Nokia's fall if there are no contingency plans.

So yes. WP7 did not save Nokia. Harmattan (in its current form) won't either.

Well, I blame shareholders. All after all, someone nominated and elected this idiot, making him CEO.

BTW, even if - now opposing, shareholders will "win" by firing Elop either way, there is more than just financial damage he did. Nokia lost great amount of true experts on lower - much more important than failop and his ''royal guard'' - level. It's like not only starving a organism (money), but also making it loose 1/3 of blood. When it comes to R&D department, You can even say about cutting entire organ and throwing it again.

I'm not sure, if Nokia would be strong enough to regenerate *even* if everything would start looking great (= not only elop fired, but also his "companions" inside Nokia) from now on. Especially, that ambient conditions are hard.

It's just that this little sucker did already too much damage:


Stephen Elop as seen in last interview. All rights reserved. Unauthorized copying strictly prohibited.

/Estel

The Lumia 900 seems beset with lot's of problems. There's a rattle when it vibrates, volume jumping when calls come in, menu glitches, wi-fi problems, short battery life and now the infamous N8 purple tint problem has also affected the white Lumia 900. Many users say they exchange their phone 2-3 times. As Nokia is selling the L900 at a loss this will magnify their loss. Nokia is depending on the U.S. market to turn the tide but with such high return rates soon salespersons won't want to recommend Lumia.

Actually it doesn't matter how many L900 Nokia "sells" in the U.S. because Nokia is really selling, it is buying market share. It will do nothing for the financial results but Elop can always tell the Board the company is "in transition".

It doesn't really matter whether the suit succeeds or not but Elop will be hung out to dry on his illogical decisions. It's like giving Tomi Ahonen a platform to rant about Elop who will only be able to defend himself with vague generalities and optimistic dreams. No matter which way the suit goes Elop's reputation will be tarnished and this may wake up the sleeping Board members to see the MS mole in their midst.

Jorma Ollila concedes mistakes:

http://news.yahoo.com/outgoing-nokia...--finance.html

They look truly sorry:

They do don't they? Plus he says he isn't satisfied but fails to tell people what is the reason for this. Is he desatisfied with the Lumias sales or the N9 sales or the ******* he appointed as a CEO?

I'm surprised at you for echoing a wild misunderstanding of many of the posts here.

The shareholders have NOT spoken with this suit. Closer to the truth would be to say that some lawyers have spoken, maybe with some shareholders too.

A class action suit is filed ON BEHALF of a class and does not necessarily reflect the opinion of ANY member of that class.

Nokia has just held its annual general meeting, see Financial Times. Excerpt:

New Nokia chairman defends strategy

Nokia’s new chairman said that the turnround strategy would remain unchanged under his leadership even as the struggling Finnish mobile phone maker faced a crowd of angry investors at its annual general meeting.

The handset maker was compared to the Titanic, a Greek tragedy and a sinister version of the Snow White fairytale where the princess stays asleep forever, all by shareholders upset by the sharp decline in the share price this year.

“The current situation is close to catastrophe,” said individual shareholder Pekka Jaakkola to Stephen Elop, the chief executive at the meeting in Helsinki on Thursday. “We know that Nokia is fighting against the tide. The products are not popular.”

Nokia has been left behind in the fast-moving high-end smartphone market in recent years dominated by Apple and phones using Google‘s Android operating system, but is attempting to make a late-break into this lucrative market with its new range of Lumia products launched last year with a Windows operating system.

This year the company has already faced a profit warning, the loss of its investment grade status by two rating agencies and a 31 per cent decline in its share price.

But the new chairman Risto Siilasmaa said the company’s turnround strategy – which includes substantial job layoffs – was on track. “I don’t think any new change is required as we are going through a transformation period already,” he said. “I am confident that Nokia has the right team, right strategy and now increasingly also the right products.”

Mr Elop also produced a robust defence of the company’s strategy over the past year, attempting to remind investors that Nokia – which started over 100 years ago as a pulp maker, graduating to making rubber boots and then into consumer electronics – has reinvented itself many times and could do so again.

Mr Elop made the case that the “burning platform” metaphor he used to describe the company was not longer apt, saying that Nokia was now more like Finnish long-distance runner Lasse Virén who tripped during a race in 1972 but still won in the end. “Like Virén we are off the grass, on the track and running again,” he said.

Many investors appeared unconvinced, favouring elaborate metaphors to drive home this dissatisfaction the company’s progress. Another individual investor, Raimo Selin, compared management to the knight in the Snow White fairytale who instead of saving the princess with a kiss “just feeds her more poisoned apples”.

Despite the visible anger in the room there was little indication of a brewing revolt from the major shareholders as it was mostly the smaller individual investors from Finland asking the difficult questions.