Linked by Thom Holwerda on Wed 16th Feb 2011 23:02 UTC
PDAs, Cellphones, Wireless "There's just one problem, though: the 'nine young investors' don't really exist - according to the last tweet on the @NokiaPlanB Twitter account, it was all a hoax perpetuated by 'one very bored engineer who really likes his iPhone'. Ouch."
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Comment by Radio
by Radio on Wed 16th Feb 2011 23:14 UTC
Member since:

The -25% fall of Nokia shares is real though.

For posterity:

Reply Score: 3

RE: Comment by Radio
by tylerdurden on Wed 16th Feb 2011 23:46 in reply to "Comment by Radio"
tylerdurden Member since:

Yeah, they are getting hammered big time. This was a stupid move regardless.

BTW, The new Nokia CEO is apparently one of the top ten largest single stockholders of Microsoft shares (I think he weights int a # 7). So he has probably more incentive to care about Microsoft's performance than he may have regarding Nokia. Under that context his push for WP7 makes total sense, since Microsoft has much more to gain for such a move than Nokia does.

If I were an actual Nokia stock holder, I'd be asking a lot of questions to the board of that company right about now. That is a very serious conflict of interest for the CEO to have, esp. since Microsoft is still a direct competitor of Nokia.

Basically Microsoft may get away with taking over Nokia without spending a single dime. Which is why the two stock prices are having such a diverging behavior right now (not that the market is a good metric for anything).

Edited 2011-02-16 23:48 UTC

Reply Parent Score: 11

RE: Comment by Radio
by segedunum on Thu 17th Feb 2011 01:32 in reply to "Comment by Radio"
segedunum Member since:

Indeed it is.

Additionally, considering that no Windows phones are going to ship on Nokia phones until next year at least, Symbian market share is declining fast and it is simply being put on life support one wonders what is going to be left when this much vaunted 'strategy' actually starts doing something.

Reply Parent Score: 2

RE[2]: Comment by Radio
by mutantsushi on Thu 17th Feb 2011 03:19 in reply to "RE: Comment by Radio"
mutantsushi Member since:

Exactly... But I guess the plan is they will get at least a year into this strategy before the results of their marketshare, etc, are revealed, at which point their MeeGo development has been sabotaged and going with WP7 is the route of least resistance. Kind of like `we started these wars in Iraq and Afghanistan, so now we CAN`T just withdraw, it would be admitting failure and that is un-American`.

I hope EU investigates this Elop for conflict of interest, Nokia received funds from EU on understanding they were developing QT as a European mobile app-framework. Then again, they get away with taking German subsidies to only close-shop and relocate to Romania.

Reply Parent Score: 1

RE: Comment by Radio
by unclefester on Thu 17th Feb 2011 12:09 in reply to "Comment by Radio"
unclefester Member since:

So what?

Markets don't act rationally. They grossly overvalue or undervalue on a whim.

Reply Parent Score: 2