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Nokia Shareholders Fight Back

Posted by CmdrTaco on from the shut-up-and-sit-down dept.

MohammedSameer writes "A group of nine young Nokia shareholders are fighting back. They posted an open letter for Nokia shareholders and investors asking to be elected in order to bring sanity back. They are also planning to challenge the company's strategy and partnership with Microsoft."

9 of 424 comments (clear)

  1. almost tempted to buy some shares by Nursie · · Score: 5, Interesting

    Just to join int, try to stop the company that made the best, most reliable phones for the longest time from being sold down the river by an MS plant.

    1. Re:almost tempted to buy some shares by timeOday · · Score: 5, Insightful
      But if they're successful in thwarting the Microsoft takeover, then what? Arrive late at the Android party? Sell dumbphones for $14.99 at Target? Everybody criticises companies like Silicon Graphics for sticking with the old strategy too long, but also for jumping on the bandwagon (such as SGI taking a stab on NT).

      Being outmoded is an extremely difficult position to be in.

    2. Re:almost tempted to buy some shares by TheRaven64 · · Score: 5, Informative

      1) He said 'outside the USA'. 2) He said 'phones' not 'smartphones'. Symbian featurephones outsell ALL smartphones, (including Symbian, Android, and iOS). The featurephone / smartphone distinction is pretty arbitrary from a user perspective - both can run third-party apps, but smartphones must expose a larger set of APIs.

      --
      I am TheRaven on Soylent News
  2. They might be on to something by toopok4k3 · · Score: 5, Interesting

    I guess that a huge drop in the share value might mean that this plan B might get some actual backing from the majority of shareholders. The share has dropped around 20% since the Microsoft announcement.

  3. wow 9 people!? by Megor1 · · Score: 5, Insightful

    Why is this even being posted, it's 9 people who let me guess own 0.0000000% of the company? Next up 9 apple share holders want Steve Jobs to stop wearing turtlenecks.

    --
    Everyone that disagrees with me is a paid shill
    1. Re:wow 9 people!? by magarity · · Score: 5, Informative

      Why is this even being posted, it's 9 people who let me guess own 0.0000000% of the company?

      Most big companies set the lower limit around 1,000 shares for anyone who wants to bring up any issue for a vote at the company shareholders' meeting. This can be anything from 'I nominate me to the board of directors' to 'presenters should not wear turtlenecks' to 'the company assets should be liquidated and the proceeds given to the homeless'. It then goes to a vote and since institutional investors who own a million shares at a time are there, anything frivolous or absurd gets immediately voted down.

  4. Re:Somebody had fun by MikeDirnt69 · · Score: 5, Funny

    Index: http://nokiaplans.com/

    --
    Am I eval()? - http://www.monst3r.com.br
  5. Anything else? by Anonymous Coward · · Score: 5, Funny

    Dear /.,

    We get it, you hate us. What else is new?

    - MSFT

  6. Their CEO is right by eyrieowl · · Score: 5, Insightful

    that they have a bad hand, and that they're playing a desperate game for the life of the company. Yes, they could do a bunch of other things...and none of them would be great for them. At this point, they do not have a winning hand. There is no winning move for them. The choice he made is a pragmatic one, to stay in the game. It doesn't mean it has to be their 50 year strategy, but it keeps them in the game for the next 3-5 years at least and that's crucial. They screwed up, and it's not the recent decision that was the big mistake. They missed the boat...arguing about why doesn't really change the basic fact that they missed the boat...and they are left in a precarious position. No, the MS way isn't going to get them to #1, or #2. But they can be #3. They can't run iOS...so they're cut off from apps on that platform. They can't be RIM...so they're cut off from that. They could do Android, and probably do it well...but he's right, that they would be subject to severe price pressure and that it would be brutally competitive, low margin. It would gut the company. Any of the other options, save MS, would consign them to the Nokia ghetto, with few apps, no significant community. Going with MS at this point is the only option which helps them to keep profit margins more than razor thin and also gets them access to a larger community, as well as a built in market, that they otherwise wouldn't have. IN THE MEANTIME...if they don't bust their butts on R&D and get out ahead of the next game changer, they will eventually fade away, but at least this buys them time to do that.

    Sometimes, the best move is just staying in the game, and they've done that. Yeah, I know, there's lots of risk, and lots of people would want anything but to be wedded to Microsoft, but...sorry guys, too little too late.