Nokia Sale Rumors Rubbished by CEO Stephen Elop

June 10, 2011, By Alexandru Ion

Nokia Sale Rumors Rubbished by CEO Stephen ElopYou might have heard the little bird telling you about a possible Nokia sale. The chief executive of Nokia Stephen Elop himself has finally thought it’s a must that he should answer the unending queries circulating for quite some time. Stephen Elop has simply rejected all news regarding such a possibility.

Elop said the rumors are baseless while addressing the Open Mobile Summit in London. His answer came when he was asked whether Samsung, Apple or Microsoft was in talks to buy the Nokia entity.

As we know, the Finnish giant is going through their toughest business phase. They recently saw a fall in share price and the company has admitted to investors that they would not turn profitable this quarter.

Nokia has even cancelled their outlook for the year. Also, several employees’ jobs at the company are facing the axe. In short, Nokia is facing the worst catastrophe ever in its history.

As if that were not enough, rating agency Fitch has cut Nokia’s credit rating to just above junk. To add to the woes, CTO Rich Green is leaving and is being replaced by Nokia Research Centre chief Henry Tirri.

Meanwhile, it is also being said that the rumors of the takeover were less than sensible. It has been further added that the decision to agree to a sale or not may ultimately be up to the shareholders, not the CEO Elop.  What do you think about that?


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