Stephen Elop Running Out of Time to Turn Nokia Around
Nokia is desperately trying to reestablish itself as a major contender in the mobile phone space, but it's no easy task going up against the likes of Apple and Samsung. There's also a lot riding for company CEO Stephen Elop, who could find himself looking for a new job if the Lumia 920 fails to excite customers the way he envisioned.
Elop has bet the farm -- and possibly his job -- on Microsoft's Windows Phone platform. So far, that strategy hasn't really paid off, but if Windows Phone 8 turns out to be a success, Nokia's fortunes could turn around in a heartbeat. The problem with that scenario is that the Lumia 920 announcement didn't exactly create a feverish buzz the way Elop hoped it would.
Analysts believe the Lumia 920 is a make-or-break product for Elop. When Elop took control of Nokia in late 2010, he put into motion a plan that included dropping Symbian and focusing on a partnership with Microsoft. At the time, he touted a two-year transition period, and the end of that period is quickly approaching.
To be fair, Elop inherited a company that was already in trouble.
"He has been making some brave decisions and courage is something this company has lacked for a long time before Elop jointed," Nordea analyst Sami Sarkamies told Reuters. "His starting point was really weak and it's hard to say someone else would have done a better job."
That's true, but at the same time, it was Elop who gambled on Microsoft's mobile platform. Win or lose, that strategy falls on him.
Elop has bet the farm -- and possibly his job -- on Microsoft's Windows Phone platform. So far, that strategy hasn't really paid off, but if Windows Phone 8 turns out to be a success, Nokia's fortunes could turn around in a heartbeat. The problem with that scenario is that the Lumia 920 announcement didn't exactly create a feverish buzz the way Elop hoped it would.
Analysts believe the Lumia 920 is a make-or-break product for Elop. When Elop took control of Nokia in late 2010, he put into motion a plan that included dropping Symbian and focusing on a partnership with Microsoft. At the time, he touted a two-year transition period, and the end of that period is quickly approaching.
To be fair, Elop inherited a company that was already in trouble.
"He has been making some brave decisions and courage is something this company has lacked for a long time before Elop jointed," Nordea analyst Sami Sarkamies told Reuters. "His starting point was really weak and it's hard to say someone else would have done a better job."
That's true, but at the same time, it was Elop who gambled on Microsoft's mobile platform. Win or lose, that strategy falls on him.
