Nokia CTO Abandons Ship
June 9, 2011 7:46 AM
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Nokia CTO Richard Green
Takes leave of absence, possibly a permanent one
It's been nearly eight months since
we last reported a major Nokia executive's defection
from the struggling company — after a string of them [
]. But the brief lull doesn't make today's news
about the possible resignation of Nokia's chief technology officer any better for the Finland-based handset manufacturer.
Nokia CTO Richard Green took a leave of absence and was unlikely to return over disagreements with the company's management decisions, namely ditching MeeGo
in favor of Windows Phone
A spokesperson told
that Henry Tirri, head of Nokia Research Center, will be the acting CTO in the interim, and would not confirm whether or not Green was gone for good (only that he'd taken a leave of absence).
Meanwhile, Nokia's struggles have prompted speculation that the company is a target for takeover by another company. Nokia CEO Stephen Elop dismissed those rumors as "baseless," saying the company was not for sale.
Nokia's troubles in the market appear to be accelerating, too. Last week, the company warned its second quarter results would be far below earlier forecasts, and the S&P cut its debt rating for Nokia, placing it on CreditWatch. This was after Fitch ratings agency placed Nokia's bonds one notch above junk grade.
"I think that this ... will confirm to the most skeptical people that Nokia can never make a turnaround," Strand Consult Head John Strand told
. "The victim here is again the shareholder."
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RE: Thats what happens...
6/9/2011 10:31:37 AM
Their biggest mistake was announcing it almost an year before having a product on the market.
That drove away Symbian customers and developers alike - that is why they keep lowering their forecasts. How could they be so blind???
If Nokia came three months ago showing a marvelous WP7 phone available immediately no one would have complained.
RE: Thats what happens...
6/9/2011 3:18:53 PM
Microsoft wrote that big check to help THEM and prop-up their struggling mobile OS. They wouldn't cough up a couple billion for a promise made in secret. Now MS is still out the money and Nokia is kerploding even more rapidly.
Countdown to MS buying Nokia in 3...2...1...
RE: Thats what happens...
6/10/2011 4:33:22 AM
Agree. But Nokia can hardly conceal such facts (that they had to abandon Symbian and Meego) because of the MS alliance. It is just an unfortunate side-effect.
The issue I have is that Nokia should at least release some mid-end to mid-lower end handsets based on WP7 (pre-mango) and allowing upgrade to Mango 1.0 when released. Holding on to Mango readiness is closing their market opportunities very quickly. I see a lot of cheap Nokia S40 handsets on "firesale" in the local mall. Not a lot of takers surprisingly considering froyo based devices from Chinese manufacturers are similarly priced. (See this market window closing ?)
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