sold 28M smartphones and aapl sold 10M iphones and Samsung sold 7M android in Q4 2010.He was handed as a new ceo of nokia with 16.5b dollars in cash and #1 brand in the world and the largest market shareholder in the world.all they have asked him to fend off the competition coming up from iphone and and android.Imagine you were given 16.5B dollars cash and was asked to bring into the market the best phone in the world ,what would you do with all this money?You would you hire the smartest people from all over the world to bring you the next phone or get deceived with 1B from msft to use their unproven platform that you don't need and corner yourself in the box by doing the dirty work and heavy lifting for msft that consumers they don't want to use or change from their monopoly experience in the pc and labtops market.consumers have sour taste with msft don't care about consumer experience.Consumers had no alternative in the nineties until goog and aapl came alive to the market .I was a believer in the beginning of this strategy by joining forces with msft to fend off the competition but analysts had doubts that was inside me what was plan B for nokia in case things did not work out if consumers refuse to adopt msft platform and eflop was asked by analysts in feb 2011 when the agreement was announced .Eflop stupid answer was plan B is plan A to succeed and every body did not like this answer.I have given him the benefit of the doubt that was not pre planned by msft to inject this failure executive to run Nokia and creat so much fear in nokia employees and customers that they have to move with his burning msft platform.I have lost over 80 % of my life saving investing with this moron that he deceived us and cont to buy time and lie to us that the lumia products are selling well and growing very rapidly with 400K sales in Q1 b/w the three networks with over 200M subscribers in the US.Even Yhoo or JCP fired their failure ceos b/f and succeeded with new executive form
never want to see retail punished, guess it's a very rude life lesson.
learn from it,
long time ago, saw where buffet said never invest in a company where you didn't trust the management,
when he was getting caught up in S&P bad sliced & diced mortgage ratings,
he said if he had to trust a companies management, he never would have owned a stock.
hopefully you'll learn to look for eflops to make money.
timing & guts is everything
look at the market making all time high and Samsung just reported today record sales 69.5M smart phones and record profits around $6B net profit where this moron ceo sold 5.6M lumia and lost over 150M in Q1 and burned over 5B dollars in less than three yrs span and made shareholders lose 80% of their investment since he joined in spe of 2010.He mislead us by saying nokia lumia sales are sold out .He is full of garbage and needs to be fired immediately.Nokia does not need him for his failure strategy
You are right to be upset. Elop has obliterated retained earnings, assets, shareholder value, market share, brand image. And he continues to ignore the writing on the wall.
Microsoft is a good partner? Lol... What partner would abandon their own vendor partners and consumer base by makin wp7 obsolete with no upgrade ability and force Nokia to writedown 400million in inventory?!
Time for a new ceo and diversify to android as well as msft. 4 of top 5 global vendors run android!
Sorry about that, man. But think back to when you were pumping so hard. Instead of pumping all the time, maybe you should have analyzed the earnings reports a little more carefully. I have a hard time reading my earliest posts here before the January 24 CC, when I was rationalizing and listening to the pumpers. I can't believe I was defending a phone and a platform I'd never seen before in my life except in pictures on the internet! I listened to the CC on the 24th and realized Elop is a MSFT plant. His job is to drag this company into BK so MSFT can buy the parts for pennies on the dollar.
Next time don't pump so hard. You probably dragged a couple of innocent bystanders down with you.
From day 1 of the Nokia Microsoft announcement I know it is going to be very turbulent for Nokia to switch OS. I got into Nokia last year only after the news it broke 5 year etc. etc. (about 1.5 years after the announcement). Maybe that is too early.
Not only have I become negative on Elop. I also have Microsoft stock and now I wonder how Steve Ballmer can fall so far behind Apple/Google and getting so much public criticism without being replaced. Only reason I can think of is he is the 2nd largest Microsoft stockholder after Bill Gates. So he can stick around and screw everyone until he retires in a few years.
I believe we will see the business community light the fire needed under the windows platform. It may be a slower process then we'd like, since business runs on annuals, but it will come, and it will be big.
you been around much longer than I have . I bought in January during the fake Run up. so I can't argue with anything you are saying. you have to wonder if he went with Android how good things could be. I believe Windows Phone is a good system. but you know the old saying goes. if you can't beat them join them.. I still think it's a little too soon to jump ship on Windows Phone 8. in my opinion Marketing is the biggest problem. I strength train many high school athletes.. when I asked them about their phones. they know nothing about Nokia. iPhone seems to be the dominant phone. kids watch a lot of television. all they see is iPhone Samsung blackberry.. by the way is it that easy getting another CEO.
Don't know what to say. I usually have you on ignore for spamming. But all I can say is that though you are down by a lot, you have time. My gut says my 4.30 share investment will more than triple very soon. If that's the case, we both win. Hang in there.
Sorry for your loss.
The one that almost took me down was Chuck Prince.
He was rewarded with many millions of severance.
That is the reason I don't put anymore new money into securities.
At one point it was so bad at the end of the Bush/Chenney fiasco that a good car was all that was left. Thanks to the advice of a senior good old friend I decided to stay put and did some rearranging.
Sure enough things did turn around.
Still not where I was but more than five times up from where I was at one point.
The most telling point was when Aig was expropriated by the US gov and share holders got nothing. Every body else was bailed out but the owners only got the shaft.
I think and hope that NOK will do better than AIG,and that MSFT has some ethics.
On the other hand I have not put any new funds in play. I have recycled a few laggards into N and is now my largest single position.
Still a ways under water but better than the left over of AIG.