Nokia announced yesterday that it was “no longer appropriate to provide annual targets for 2011.”
For a listed, market leader to say this means 'I've given up'.
I don't want to berate about what Nokia did wrong - that's an old folk story now.
The question is - What will be written on the Tombstone on the Grave of Nokia?
Will the tombstone say 'Here in lies the inventor and innovator of the mobile phone, loved and touched by all'??
Will it the same tombstone that adorns the Graves of Polaroid and the Palm Pilot?
Will you have any memory of your first, second, and probably third Nokia phone after a few years?
Will you remember the scary and hair tearing moments of forgetting to 'back up' your phone and then losing all your data?
Will you ever forget that immortal Nokia Ringtone.....?
Adieu Nokia.... may you rest in peace (hic)...
MAY YOU REST IN PEACE
Apple was in precarious shape after firing Steve Jobs and actually needed a $100MN+ cash infusion from Microsoft (part of a settlement) to re-ignite themselves after they were forced to hire back Steve.
Nokia too has just shaken hands with Microsoft, and may shake hands with RIM too. It has also set up a dedicated team and funded them to develop newer technologies. Elop is radical. Give him 12-24 months before writing Nokia's obituary.
It ain't over until the fat lady "rings".
Apt reply by Om of GigaOm: http://gigaom.com/mobile/how-nokia-didnt-listen-to-itself/
Apparently Nokia stock hit 13-year low. Wonder why it discontinued Ovi, wonder why it partnered with Mocrosoft