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NOK had crashed long before Elop was hired. The subsequent decline was due to the leaked memo saying they were scrapping Symbian entirely rather than the move t
by throwawaykf02 13y ago
NOK had crashed long before Elop was hired. The subsequent decline was due to the leaked memo saying they were scrapping Symbian entirely rather than the move to Windows Phone. The stock would have crashed even if they had announced a move to Android instead. Symbian was the platform on which they rose to dominance, and it was clearly not going to cut it in the new smartphone era, so scrapping it was inevitable. But hearing it from the horses mouth clearly signaled that they had no new tricks up their sleeves and were essentially starting from scratch.
- rbanffy 13y agoWhile there was a sharp drop in early 2010, there is a second drop the day Elop publishes the "burning platform" memo. https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1379707200000&chddm=365306&chls=IntervalBasedLine&q=NYSE:NOK&ntsp=0&ei=Tow8UrD7JaaalgOm-wE https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&...
- throwawaykf02 13y agoOh yeah, the memo was definitely an expensive mistake, as I said elsewhere on this thread. I was just saying the majority of the damage was done before he joined.