Linked by Thom Holwerda on Tue 24th Sep 2013 11:44 UTC
PDAs, Cellphones, Wireless

Finland is boiling with rage this weekend over the $25 M bonus payment the CEO Stephen Elop is set to receive as he leaves Nokia after his two-year tenure. Questions are now being raised by the oddest aspect of the bonus: the board of Nokia seems to have given Elop a $25 M incentive to sell the handset unit cheaply to Microsoft way back in in 2010. This effectively means that the board hired a man who was given a giant carrot to drive down Nokia's overall valuation and phone volumes while preparing a sale to Microsoft. What could possibly be a reason to structure Elop's original contract in this manner? Did the board in fact end up promising Elop more compensation in case he sells the phone division than if he runs it with modest success?

Vindication. We were right all along.

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RE[5]: ...
by ricegf on Tue 24th Sep 2013 23:33 UTC in reply to "RE[4]: ..."
ricegf
Member since:
2007-04-25

I think it is you who needs to re-read my comment.


*sigh* We seem to be back in kindergarten. My entire comment was

Yes, it was the potentially fatal disease that afflicted Nokia when Elop took over. Missing the 2010 holiday selling season with N9 was a huge blow.


The N9 was largely developed prior to Mr. Elop's arrival, and he arrived far too late to affect its chances of shipping by the 2010 holiday selling season. He also specifically mentioned discovering the N9's delayed ship date as part of rationalizing his decision to abandon MeeGo.

Hence, when at the exact moment that Mr. Elop took over as Nokia's leader, Nokia was already afflicted with an inability to deliver products on schedule.

Not sure how to say it any more clearly than this. If you still think we're disagreeing, then we'll have to disagree to disagree. :-D

what makes you think the other vendors using Qt won't have the same fatal luck?


I'm giving them the benefit of the doubt, though it's a tall order for any company to enter the smartphone market at this point.

Two in particular stand out.

Jolla, started by the folks who created the N9, sold out their first set of pre-orders and are conducting a second round limited to Finland (you know, that country in the article whose citizens are looking for a way to show their displeasure with Microsoft's acquisition of Nokia's smartphone business). Sounds like they may have a good shot at a market niche there.

And Canonical, backed for almost a decade by a determined bazillionaire, set several records with their Ubuntu Edge funding campaign. Most telling, they raised more than any other campaign in history thus far. Kind of indicative of a potential market niche as well.

But we won't know until products are shipping. I'm willing to wait and see what happens. Perhaps you should too?

Edited 2013-09-24 23:41 UTC

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