When Nokia agreed to sell its cellphone division to Microsoft, it was almost like a match made in heaven. After all Nokia was probably Microsoft’s biggest support as far as Windows Phone devices were concerned, and with the company commanding a whopping 90% of the Windows Phone market, it sort of made sense. While the majority of Nokia shareholders approved the deal, there were some who weren’t too happy about it and criticized Nokia’s then CEO, Stephen Elop. In an interview with the South China Morning Post, Nokia’s Chairman not only defends the company’s decision to sell, but also Stephen Elop.
According to Risto Siilasmaa, he defended Elop by saying, “I have never met anyone who had done as much work as Stephen has done.” He also went on to defend the reason behind Nokia’s decision to sell to Microsoft, stating, “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 employee.” He also highlighted how the deal made sense for Microsoft, who was paying Nokia $20 per handset for marketing efforts, while Nokia only paid them $10 per handset for licensing fees.
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