As you may have noticed in the past couple years Nokia's presence in the smart phone market is almost nonexistent. They are still the biggest handset maker, but Apple and Google's operating systems are beginning to build loyalty with their customers. As a result, Nokia's stock has dropped 60% since 2007. However, Nokia's newly hired CEO, Stephen Elop, may just be the individual to turn around their company. As the former head of Microsoft's business software group, Elop's software background should help transform the company from their current slow moving culture into a leaner more innovative company.
Another advantage of having Elop as your CEO is his ties with Microsoft. In fact, the two have already reached an agreement to put a mobile version of Office on Nokia's phones. It makes you wonder if they may form a strategic partnership and use Microsoft's operating system for Nokia's phones.
Only the future will tell if Elop can turn around Nokia's fortunes, however Nokia's stock has already increased just due to the news of Elop's arrival.
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