FX.co ★ Nokia and Windows Phone: shareholders rebel

Nokia shareholders call to unite against the company’s current plans, oust new CEO Stephen Elop and limit cooperation with Microsoft. The revolt is arranged on the forthcoming shareholders’ meeting.
A group of 9 Nokia shareholders published an open letter to minority shareholders with a request to unite and get control over the company on the forthcoming meeting on May 3, 2011. The group has created a website where the message and related news can be found.
In case of success the group intends to follow an innovative way of development and produce “overwhelmingly superior products with unrivaled user experience”. Besides, they are planning to return to developing their own operational systems. Optimization of expenses for research and design is also expected. At the moment Nokia research centers are spread all over the world and most of the money is spent on bureaucratic procedures. According to Sanford C. Bernstein & Co, in 2010 the vendor spent $1.4 bn only for development of Symbian, while Apple expended $772 on the iPhone during the same period.
If elected to a majority on the board, the group said it plans to immediately dismiss current CEO Elop and replace him with a person involved in mobile industry. Cooperation with Microsoft is planned to be limited to the North American region where it is supposed to boost sales. In particular, they intend to release one or two Windows Phone devices, but avoid having WP as the major platform for smartphones.
MeeGo based on Linux is expected to be the company's primary mobile platform. In order to shorten the time for the release of MeeGo devices on the market all research assets are planned to be concentrated in one place and, if necessary, the group is ready to temporarily reject cooperation with Intel in this direction (the companies have been developing the platform together since February 2010).
At the same time the existence of Symbian platform is offered to be prolonged for 5 more years. This OS is supposed to be a basis for medium price range devices.
It is also suggested to immediately fire Nokia executive vice-president Tero Ojanpera, who is responsible for mobile services and partnership programs, as well as developers Niklas Savander, head of the market relations department, and Mary McDowell, executive vice president responsible for release of mobile phones.
This decision is based on the following events. In autumn of 2010 Nokia Board of Directors decided to change the CEO and appointed on this position Steven Elop, former director of Microsoft Business Division responsible for Microsoft Office and corporate products. Last Friday, February 11, after several months of preparation and analyzing prospects of the company Elop presented a plan of revitalizing of the withering mobile phones producer. In particular, Elop announced that Windows Phone is chosen as the major platform for future Nokia smartphones. Since the middle of the previous week amid rumours of the forthcoming announcement Nokia shares dropped by 20%.
Several days ago Elop was forced to comment the suggestion of numerous observers that he is a Trojan Horse of Microsoft. Answering a question on the briefing he disclaimed this suggestion: he cannot impose a course to the whole company, decisions are made by the Board of Directors by voting, just as in Microsoft corporation where he used to work before.