Last week, Nokia shareholders approved the sale of Devices and Services unit of Nokia to Microsoft. Even though many of us were happy to see the deal happening, many Finnish people were not feeling the same. Many Finland based analysts criticized that Nokia’s devices division is undervalued in Microsoft’s deal and they raised many questions.
In an interview, Nokia’s chairman Risto Siilasmaa commented the following on the criticism.
“On the board of directors, we understood that, as the decision-makers, we would also be heavily criticized . However, we are convinced that continuing with the old strategy would have most likely led to great difficulties for Nokia, its shareholders and employees,”
He defended former Nokia CEO Stephen Elop on his work he did at Nokia.
“I have never met anyone who had done as much work as Stephen has done.”
He also revealed that Microsoft was forced to acquire Nokia’s business because the equation didn’t work for Microsoft, when Nokia paid Microsoft a US$10 licence fee to use Windows Phone OS, Microsoft paid Nokia US$20 to support its marketing efforts.
Read full interview from the link below.