Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

But the job is not done yet!
Vote for the deserving candidate this year.

Check your mail to know more

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
SPONSORED BY
Tech
»
2-min read

Nokia Chairman Reopens Old Wounds With New Book

Nokia was the world's largest mobile handset maker and Europe's highest valued company at its peak, accounting for about 4 percent of Finland's economic output.

Reuters

Updated:October 13, 2018, 12:12 PM IST
facebookTwittergoogleskypewhatsapp
Nokia Chairman Reopens Old Wounds With New Book
Nokia Reshuffles Management With Focus on 5G Market
Loading...
Nokia's chairman has pointed the finger at his predecessor over the mobile phone maker's fall from grace in a book that has reopened old wounds in Finland, where the company remains a source of national pride. Nokia was the world's largest mobile handset maker and Europe's highest valued company at its peak, accounting for about 4 percent of Finland's economic output. But it failed to recognise the threat to its existence posed by the rise of touchscreen smartphones after Apple launched the iPhone in 2007. It has since sold off its handset business, with thousands of jobs lost along the way, and is now focused on telecoms networks and licensing its technology patents.

Nokia's decline was partly down to a lack of entrepreneurial leadership and the failure to face up to bad news, according to the book by Risto Siilasmaa, Nokia's chairman, who joined the company's board in 2008. Named "Transforming Nokia: The power of paranoid optimism to lead through colossal change," the book has made headlines beyond the business world because of its attacks on former Nokia CEO and Chairman Jorma Ollila. Siilasmaa said Ollila, one of Finland's best known business leaders who once considered running for president and is also a former chairman of Royal Dutch Shell, was quick-tempered and spread fear in the organisation, which curbed open discussion and led to a reluctance to share bad news.

Siilasmaa said he proposed Nokia look into choosing Google's Android platform for Nokia's smartphones over the company's own Symbian system in 2009, but a memo he had sent to Ollila was never discussed in the boardroom.

"RUINED LEGACY"

Siilasmaa said Ollila also sought to prevent his election as chairman in 2012, and yelled at him over phone when he briefed Ollila the following year about the plan to sell the handset business to Microsoft. "Our conversation followed the usual pattern: I tried to be polite; he exploded and yelled that I had ruined his legacy," Siilasmaa wrote. Ollila, now 68 and retired from frontline business, was Nokia chief executive in the phonemaker's heyday from 1992 to 2006, a year before the iPhone's launch, and then served as its chairman until 2012.

In Finland's Helsingin Sanomat daily he said that Siilasmaa, 52, was exaggerating with his accusations and had trouble understanding that running a large global company was different from managing a small company. Siilasmaa is the founder of Finnish cybersecurity and privacy company F-Secure. Under Siilasmaa's command, Nokia ended up selling the handset business to Microsoft in 2014.

Nokia then bought control of a joint venture with Germany's Siemens and followed up by acquiring Franco-American Alcatel-Lucent, making itself one of the world's biggest mobile network makers.
| Edited by: ---
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
T&C Apply. ARN EU/04/19/13626
 

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results