The jury is still out on the future of Nokia. The company still has a lot of support in its home market from domestic investors and that will be crucial in the months ahead, but patience is clearly running out.
Nokia CEO Stephen Elop defended his company's embrace of Microsoft's Windows Phone platform as its primary smartphone strategy amid scathing criticism from shareholders who urged the company to try a new tack in its battle to regain market share.
Nokia CEO Stephen Elop came under heavy fire from shareholders, as investors weary with the Finnish vendor's failure to compete with Apple and Samsung Electronics told the company they were running out of patience with its strategy of using Microsoft's Windows Phone software.
Nokia officially unmasked its next high-end Lumia Windows Phone device, the Lumia 928, which appears destined for Verizon Wireless.
Nokia reported a year-over-year and sequential drop in device sales in North America, but CEO Stephen Elop also hinted that the company will soon bring a "hero" Lumia Windows Phone smartphone to a top U.S. carrier, likely Verizon Wireless.
During the past several weeks, publicly traded companies in the wireless industry revealed how much they pay their CEOs. The following lists the highest paid executives in wireless.
Nokia CEO Stephen Elop said he is confident that the company's Lumia smartphones running Microsoft's Windows Phone can help the platform grab more market share, and said he is focused on the enterprise market as a major opportunity. However, analysts are worried that Nokia's lack of a 5-inch superphone to compete with the likes of the Samsung Galaxy S4 may be holding the company back.
Nokia said it expects to pay around a net of €500 million to Microsoft as part of a multi-year agreement to cover software licence fees. However, Nokia will receive slightly more in Windows Phone "platform support" payments this year from Microsoft than it pays to the software giant in royalties, though Nokia will begin paying Microsoft more than it receives starting in 2014.
Nokia CEO Stephen Elop saw his total 2012 pay package cut by 45 percent compared with 2011, according to a regulatory filing. Nokia struggled mightily in 2012 in its transition to using Microsoft's Windows Phone software for its smartphones.