According to Bloomberg,
Former Nokia CEO Stephen Elop (Bloomberg)
Stephen Elop, a candidate to replace Steve Ballmer as Microsoft Corp.’s chief executive officer, would consider breaking with decades of tradition by focusing the company’s strategy around making the popular Office software programs like Word, Excel and PowerPoint available on a broad variety of smartphones and tablets, including those made by Apple Inc. and Google Inc., said three people with knowledge of his thinking.
Elop would probably move away from Microsoft’s strategy of using these programs to drive demand for its flagship Windows operating system on personal computers and mobile devices, said the people, who asked not to be identified because the 49-year-old executive hasn’t finalized or publicly discussed his analysis of the business. Most of Microsoft’s software has been tied to running on Windows.
Posted in Bond, Economy, emerging market, Events, New York, Opinion
Tagged Apple, Bloomberg L.P., Google, Microsoft, Nokia, Office suite, Stephen Elop, Steve Ballmer
All Things D’s Ina Fried reports that Microsoft announced late Monday that it is buying the majority of Nokia’s cell phone unit for 3.79 billion Euros ($5.0 billion) and spending another 1.65 billion Euros ($2.18 billion) to license Nokia’s patent portfolio for a total of 5.44 billion euros ($7.17 billion).
Once the deal is done, a number of Nokia executives will join Microsoft including Stephen Elop, a former Microsoft executive seen as among the top contenders to replace CEO Steve Ballmer. Also set to join Microsoft are Jo Harlow, Juha Putkiranta, Timo Toikkanen and Chris Weber.
For now, Elop is stepping aside as Nokia CEO to become executive VP of devices and services. Nokia Chairman Risto Siilasmaa will serve as interim CEO.
“For Nokia, this is an important moment of reinvention and from a position of financial strength, we can build our next chapter,” said Siilasmaa “After a thorough assessment of how to maximize shareholder value, including consideration of a variety of alternatives, we believe this transaction is the best path forward for Nokia and its shareholders.”
The move is a clear sign that Microsoft believes it can and must succeed in the phone business and that it cannot afford to leave the success in the hands of a partner–even one like Nokia that had bet its future on Microsoft’s phone software.
Posted in Breaking news, Economy, emerging market, Finance, Investment Banking, M&A
Tagged All Things D, Android, Apple, BlackBerry, cell phone, Chris Weber, Google, iOS., Jo Harlow, Juha Putkiranta, license, maximize shareholder value, Microsoft, Nokia, patent portfolio, phone business, platform, Risto Siilasmaa, smartphone, Stephen Elop, Steve Ballmer, Timo Toikkanen, Windows Phone