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Nokia chief bookies’ favourite to become next Microsoft CEO

NEW YORK - Nokia chief executive Stephen Elop is the hot favourite to take the top job at Microsoft, after Steve Ballmer announced his intention to retire last week.

Ladbrokes is offering 5/1 odds on Elop - who spent two years at Microsoft before joining Nokia - being chosen to replace Ballmer as CEO of Microsoft, the Daily Telegraph reported.

Mr Elop joined Microsoft in 2008 as head of its business division, which is responsible for the Microsoft Office suite of products. The Canadian was then appointed CEO of Nokia in 2010, becoming the first non-Finnish director in Nokia’s history.

The following year Mr Elop announced that Nokia would adopt Microsoft’s Windows Phone as its primary smartphone operating system. On the strength of this partnership, Microsoft recently overtook BlackBerry as the third-largest smartphone operating system, after Google Android and Apple iOS.

The latest odds from Ladbrokes has Mr Elop as the favourite, ahead of Microsoft chief operating officer Kevin Turner (6/1), former president of Microsoft’s Windows Division Steven Sinofsky (8/1) and Julie Larson Green (8/1), executive vice-president of Microsoft’s devices and studios business.

Outside bets include Twitter founder Jack Dorsey taking charge (40/1), Microsoft founder Bill Gates making a return to the company (50/1), or Tim Cook swapping control of Apple for its rival (100/1).

http://www.todayonline.com/tech/nokia-ch...rosoft-ceo

May be the biggest winner of MS-Nokia deal, is the Nokia outgoing CEO Stephen Elop...

Nokia to pay outgoing CEO S$31 million

HELSINKI - Nokia says it will pay outgoing CEO Stephen Elop a compensation package of some US$25 million (S$31 million) when he leaves the company to move over to Microsoft.

In proxy statements to shareholders published yesterday (Sept 19), the Finnish company says the amount includes Mr Elop’s base salary and equity awards of about €14.6 million (S$24.6 million).

The announcement comes in the wake of Microsoft’s plans to buy Nokia’s phone business for US$7.2 billion, including a portfolio of patents and services.

Mr Elop, who left Microsoft in 2010 to become chief executive of the ailing Nokia, is stepping down to be executive vice president of the company’s devices and services before he rejoins Microsoft once the acquisition closes.

Nokia’s share price closed down more than 1 per cent at €4.88 in Helsinki. AP
http://www.todayonline.com/tech/nokia-pa...31-million

After officially completed, Nokia phone news will be posted under Microsoft, rather than here. The launch doesn't catch too much eyeball, amid the Apple new tablets launch...

Nokia core business after the sale, are Nokia Solutions and Networks, and the location business. There is an article on Nokia new core business in the Oct 21 issue of The Edge.

Nokia unveils new phones, tablet

NEW YORK — Nokia has revealed an expanded line-up of phones and is introducing its first tablet computer, just one month after Microsoft announced its plans to buy the struggling mobile phone maker’s phone business and patent rights.

Microsoft aims to complete the €5.44-billion (S$9.23 billion) deal early next year.
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http://www.todayonline.com/tech/nokia-un...nes-tablet

Frankly I dunno what that means: Is Nokia now super low self esteem, purposely super marketing low key or super incompetent to launch their FIRST tablet together with Apple launch?

(24-10-2013, 10:47 AM)specuvestor Wrote: [ -> ]Frankly I dunno what that means: Is Nokia now super low self esteem, purposely super marketing low key or super incompetent to launch their FIRST tablet together with Apple launch?

Apple event day was known, but Nokia marketing team still went ahead on the same day. I am not sure it was overly confidence or no body care with the impending new bosses?

Nokia-Microsoft deal gets approval

HELSINKI — Nokia shareholders approved the US$7.4 billion (S$9 billion) sale of the company’s mobile phone business to Microsoft, deciding the deal’s financial benefits outweighed any objections to the loss of a Finnish national asset.

Investors holding more than 99 per cent of Nokia voting rights supported the deal, according to a final tally at yesterday’s (Nov 19) shareholders meeting in Helsinki. The sale is expected to close in the first quarter of next year after regulatory clearances.
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http://www.todayonline.com/tech/nokia-mi...s-approval

The deal has been completed...

Nokia, Microsoft complete S$9.5b cellphone deal

HELSINKI — Nokia said today (April 25) it has completed the €5.44 billion (S$9.47 billion) sale of its troubled cellphone and services division to Microsoft, ending a chapter in the former world leading cellphone maker’s history that began with paper making in 1865.

The closure of the deal, which includes a license to a portfolio of Nokia patents to Microsoft, follows delays in global regulatory approvals, and ends the production of mobile phones by the Finnish company, which had led the field for more than a decade, peaking with a 40-per cent global market share in 2008.

Nokia said the total transaction price would be “slightly higher” than when it was originally announced on Sept 3 because of adjustments made for net working capital and cash earnings. The deal was to have closed during the first quarter but was held up because of delays in regulatory approvals worldwide.

The company will now focus on networks, mapping services and technology development and licenses, and said it will give more details of the deal and future plans when it releases first-quarter earnings on April 29 — the last report to include the ailing devices and services division.

“The new Nokia can now go forward and concentrate on its remaining assets,” said Mr Neil Mawston from Strategy Analytics, near London. “It has one of the best IPR (intellectual property rights) assets in the entire industry and it has good mapping services.”

Nokia said two plants will remain outside the deal — a manufacturing unit in Chennai, India, subject to an asset freeze by Indian tax authorities, and the Masan plant in South Korea, which it plans to shut down. The adjustments have no impact on the deal and Nokia “will be materially compensated for any retained liabilities”, the company said.

Microsoft said it will acquire some 25,000 Nokia employees in 50 countries. More than 4,000 in Finland will transfer to Microsoft and the Nokia headquarters in Espoo, near the Finnish capital, Helsinki, will be taken over by the United States giant.

Former Nokia CEO Stephen Elop will serve as executive vice president of the Microsoft Devices Unit, which will include Nokia’s former Lumia smartphones and tablets, Microsoft said.

Nokia’s share price was up more than 1.5 per cent at €5.37 in afternoon trading in Helsinki. AP

http://www.todayonline.com/business/noki...phone-deal

Will the Nokia networks division achieve the same success as mobile division? Let's see...

Nokia names new CEO in bid to revive fortunes

Helsinki — Nokia has named Mr Rajeev Suri as chief executive officer, picking the head of its networks division to chart the company’s future and revive growth after selling its mobile-phone business to Microsoft.

Mr Suri, 46, will take over the role from tomorrow, Nokia said yesterday. The appointment ends a search for a replacement for Mr Stephen Elop, who returned to Microsoft with the sale of Nokia’s handset unit for about US$7.5 billion (S$9.4 billion).

By appointing Mr Suri, the 149-year-old company is intensifying its focus on wireless-network equipment as it faces a new start without the phones that made it famous. Mr Suri, who has run the network unit for four years, needs to challenge larger companies, such as Ericsson and Huawei Technologies, to reverse falling equipment revenue, which accounts for about 90 per cent of Nokia’s sales.

“Mr Suri is a strong choice as CEO,” said Mr Hannu Rauhala, an analyst at Pohjola Bank in Helsinki. “The industry is going through a major shift to software-defined networking, so he certainly has plenty of work ahead of him.”

Mr Suri has spent almost 20 years in Nokia’s networks business, dealing with strategy, mergers and acquisitions, sales and marketing before becoming its head in 2009. An electronics and telecommunications engineer from Mangalore University in his home country of India, he cut jobs and focused on more lucrative deals to boost earnings at the unit.

Nokia has three businesses left after the phone-unit sale: The networks division, which made up 71 per cent of its adjusted operating profit in the first quarter, its maps business and the unit responsible for licensing its patents.

Nokia could make “small” acquisitions to fill in gaps in its product offering, Mr Suri said in an interview. The company can compete in all its three business areas and has no plan to focus on only networks, he said.

While Mr Suri’s precise plans are unclear, Nokia could invest more in research and development and purchases, said Mr Sami Sarkamies, an analyst at Nordea Bank. The network unit sells base stations, antennas and other equipment for mobile carriers and offers related services.

“It’s clear the networks business is here to stay, but they’ll need to work on new partnerships and smaller acquisitions,” he said.
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http://www.todayonline.com/tech/nokia-na...e-fortunes

Will Nokia make it, with its new venture? The combination seems right, with network equipment as cash cow, and navigation/intelligent cars as star...

(not vested)

Nokia set to invest S$125 million in intelligent cars

HELSINKI — Finnish mobile technology firm Nokia said yesterday it has started a US$100 million (S$125 million) fund to invest in companies that develop intelligent-car technologies, joining the likes of Google in betting that future vehicles will be smarter and more connected.

The fund will be run by the company’s venture capital arm Nokia Growth Partners.

“We’re seeing innovation that’s happening across the auto ecosystem through the combination of mobility and the Internet,” said Mr Paul Asel, a partner at the Nokia venture capital arm, in an interview. “The car is really becoming a platform, like when the mobile handset became a smartphone and all the apps and services developed around that.”

Nokia is rebuilding itself and expanding to new fields after selling its mobile phone unit to Microsoft for about US$7.5 billion last month.

The investments are meant to support Nokia’s digital map business, it said in a statement yesterday. While the company now gets most of its revenue from wireless-network equipment, it is also seeking to make its maps business a stronger competitor against rivals, including Google.

Nokia built its location-technologies business by buying map provider Navteq for US$8.1 billion in 2008 and 3D map technology maker Earthmine in 2012. Nokia provides map data to Amazon.com, Microsoft, Yahoo! and four out of five car navigation systems, a crucial segment as future connected-device systems use more location data.

Carmakers are introducing smarter dashboard navigation systems, adding features such as real-time traffic information and automated calls to emergency services in case of accident.

Manufacturers are also gradually adding automated-driving systems that may ultimately lead to self-driving vehicles. Google, operator of the largest Web search engine, has been testing driverless cars in the United States.

Toyota Motor said in October it will introduce systems in about two years that will enable cars to communicate with each other to avoid collisions. General Motors is planning vehicles by 2020 that will be able to drive themselves on controlled-access highways. BLOOMBERG
http://www.todayonline.com/tech/nokia-se...igent-cars

Nokia still strong without the phone business...

Nokia beats market expectations in third-quarter

HELSINKI - Finland's Nokia on Thursday reported stronger-than-expected profitability at its core networks business in the third quarter and raised the unit's full-year outlook on the back of major network roll-outs in North America and China.

The network unit showed a core operating profit margin of 13.5 percent, up from 11.0 percent in the second quarter and topping analysts' average expectation of 9.9 percent in Reuters poll.

Nokia said it now expects the networks unit's full-year operating margin to be slightly above 11 percent, compared with its previous forecast of at or slightly above the higher end of a range of 5 to 10 percent.

Nokia's total underlying operating profit for the July-September period rose as much as 32 percent from the previous quarter to 457 million euros ($578 million). Analysts had expected an operating profit of 359 million euros.

Nokia in April closed the deal to sell its former flagship phone business to Microsoft, leaving it with the network equipment unit, navigation technology business and a smartphone patent portfolio. REUTERS
http://www.todayonline.com/business/noki...rd-quarter