Nokia CEO rues recent company decisions, says report

It appears that Research In Motion isn’t alone in the struggle. Earlier this month, Nokia released a press release citing that it will ax 10,000 jobs on a global scale by the end of 2013. According to Asymco analyst and founder Horace Dediu, Nokia CEO Stephen Elop has a few regrets about some of the company’s recent decisions.

Dediu quoted the Nokia CEO’s words from a Finnish newspaper saying, “The past year and a half have had situations where we might [have done] some things differently if we had known [things were] changing so rapidly, even faster than anyone could have predicted”.

“One example of this is the Android phones prices in rapid decline in market such as China. It has happened so quickly that Nokia’s situation has become more difficult in the short term, but we continue to refine our strategy. Each time the future is difficult to predict, the situation is difficult,” Elop reportedly said.

Dediu also said that Microsoft could most likely capitalize Nokia in exchange for a small equity stake, similar to what it did for Apple, Barnes & Noble, and Facebook. “It did so not because they wanted to own these companies but because they wanted them to survive or thrive. The move acts as a signal to the industry, partners and developers,” Dediu said.

Gene Ryan Briones
Categories: Cellphones
Tags: Nokia