Business, Technology

Nokia is dead, Newkia rises from its ashes

Nokia’s fate would have been a lot different today if it had taken the Android route, and this is what freshly minted company — aptly named Newkia — plans to do by acquiring as much of Nokia’s know-how as possible.

Speaking to ZDNet in an interview Thursday, Thomas Zilliacus, executive chairman and founder of Mobile FutureWorks, did not mince his words when asked about his views on Microsoft’s US$7.2 billion deal to buy out Nokia’s devices and services unit. The deal reflects the complete failure of the Windows strategy Stephen Elop chose when he was appointed Nokia CEO some two years ago.

Nokia, which only three years ago was the world’s runaway market leader in mobile phones, is today a small and insignificant brand, he said, noting that the purchase price announced yesterday represented just 2 percent of Nokia’s market cap over 10 years ago — via redwolf.newsvine.com

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