Nokia investors told Chief Executive Stephen Elop on Tuesday that they were running out of patience with his flagging attempts to catch up with market leaders Apple and Samsung in smartphones.
A number of shareholders at the annual general meeting in Helsinki said Elop should reconsider his 2011 decision to switch to the phone operating software made by his former employer Microsoft, which has left the company scrambling to get back in the race from a standing start with its new Lumia range of smartphones.
"You're a nice guy ... and the leadership team is doing its best, but clearly, it's not enough," one shareholder, Hannu Virtanen, told Elop. "Are you aware that results are what matter? The road to hell is paved with good intentions. Please switch to another road," he said.
The transition to Windows Phone from Nokia's own Symbian system was meant to take two years. That period is now over, and while recent results have shown growth in sales of Lumia smartphones using Windows Phone 8, the volumes pale in comparison with the top Samsung and Apple models, and sales of its "feature phones" have plunged in the meantime.
Nokia shares have also plunged, now trading at €2.72, a fraction of their €65 peak in 2000.
Source: The Guardian
