CEO Elop started Nokia career in Sept 2010 when NOK stock was around $10.30. NOK shares rose to a high of 11.75 on Feb 9 2011 when it tumbled with the leaking of the 'burning platform' memo. Elop started house cleaning radically, but the memo did damage all the way to $1.63 in July 2012 where NOK finally turn around to meet challenges and competition.
There are some truths of comparinjg the 'burning platform' with NOK. But NOK survived and rescued.
Think we may be riding the recovery with a dynamic CEO. On the other hand, AAPL lost Steve Jobs and its visionary brain.
NOK probably cannot chase AAPL, but the gap may be narrower the coming years.
No, it was the accelerated death of Symbian which was sparked by Elop. As Symbian sales nosedived so did the pps. There is a very clear and precise correlation of this fact. So Elop is in part responsible for the low pps. Not just because of the Symbian memo but because of the delayed cost cuts, the continued excessive R&D expenses to the tune of $7 billion per year, the lack of a better flagship and Tablet (which any company 2 years ago, spending nearly 3 times in R&D compared to apple should have had), lack of a plan B to run alongside the plan A windows route knowing windows 7 was lacking and the take up would be slow, the lack of foresight and planning by paying out nearly $1 billion in dividends just to dilute the very same shareholders 8 months later to the same tune, lack of foresight in not cutting unnecessary costs and the full dividend early enough in order to take advantage of the once in a lifetime opportunity to buy back massive amount of shares at a song and dance (3 decade low), and I would add: going in debt for a cool $1 billion (to buy back even more shares as below $2) in the revolving line to greatly increase future earnings per share.
Other than that Elop hasn't done anything wrong. Basically the guy has ran this company playing it by ear. There is no sign of doing anything well thought out well ahead of time. Not efen going with Windows - windows was a 50/50 pure chance play which offered some massive and kuch needed cash incentives and long term benefits of which android offered none so that choice was not so much planning as much as choosing the most logical and most beneficial decision for a sinking ship.
We should be sitting right now on a stock that should have at least 1 billion less shares outstanding but instead Elop diluted us near a 3 decade low pps and gifted shareholders now by going over the 4 billion share mark. The same bankers who Made a killing shorting this stock while buying millions of shares at a 3 decade low were rewarded by elop With a secondary bond offering which the banksters will convert into hundreds of millions of shares priced around $3 per share. Thank you Elop. Oh, did i mention Elop doesnt believe in releasing Status or sales PR's, that way the short bankers have lots of time to cover and no silly surprises like official PR's by nokia saying: hey, the 920 sold 3 million Units this month. no way, that might drive the pps up by lots of dollars and create a huge short squeeze costing Goldman Sachs huge losses and Elop doesnt want that. And i'm sure after giving the bamkers another 300 million shares via the secondary Elop will next give them that cool billion he just borrowed from them right back to them via another mindless dividend, and Goldman along with Morgan, the 2 biggest holders of nokia stock (all purchased while issuing a SELL rating) will be there to collect yet again at the cost of the shareholders.
So nokia has 4 billion shares now thanks to Elop, That's 4 times more shares than Apple (so please people PLEASE stop saying stupid things like Nokia is going to $200 cause apple is at $500, thats just a really stupid thing to say) and apple is still kicking Nokia in the teeth - Nokia still doesn't even have a tablet on the market, nearly 3 years after Elop took over and nearly $15 Billion in R&D spending over that time. There's no excuse for that other than stupidity and incompetence. Tablets are high margin items and Nokia is a top brand in many countries. Any tablet from them would have sold well and for high margins in countries like Germany, Finland, Japan, China and India.
I really hope Elop has learned to be a CEO by now given he now has 3 years of CEO experience and going forward he's not gonna disappoint.