There are some who are trying to write revisionist history about Nokia now, as they head to their shareholder meeting about the handset unit sale. I want to post these three pictures from Nokia results, to show just very clearly, yes there is obviously an Elop Effect, all Nokia data totally agree that in the smartphone unit there was clear unit sales growth before Elop Effect, which turns into decline. There was clear revenue growth before Elop Effect, which collapsed. And there were strong profits before Elop Effect which all vanished turning into perennial losses. Nokia the company did not die out of becoming a dinosaur. Nokia was killed by an assassin - a paid assassin, the CEO who got a 25 million dollar bonus for destroying the smartphone unit. That is why Elop was worst CEO of any company in Fortune 500 history. Here are the pictures
There is total agreement in those pictures. Nokia smartphone unit was VERY healthy, growing unit sales, growing revenues and generating increasing (and Nokia record-setting) profits. Those all were destroyed exactly in Q1 of 2011, ie February 2011, with the Elop Effect. That is the truth, people.. Lets not rewrite history now. If you want to read the full story of what happened at Nokia and how the above performance was possible, read this: Nokia Requiem. And if you want to know how Elop could have gotten such a bizarre 'assassination bonus' into his contract, this is my speculation of how it happened. And for those who think that Nokia was in trouble before Elop, he had a hopeless mission - here is the comparison of previous CEO Kallasvuo vs Elop. Yes, Nokia had problems before Elop came in - totally fixable problems and the smartphone unit was not the sick puppy at Nokia at the time. Elop decided to destroy the smartphone unit, because it was the easy way for him to collect 25 million dollars.
PS if you are curious why is there such a strong peak in Q4 of 2011, that was driven by the launch of Nokia's only MeeGo based handset, the N9, Nokia's flagship smartphone of 2011, plus obviously Christmas seasonal sales peak (which is almost non-existent a year later when Christmas sales were driven by new Windows Phone 8 based Lumia flagship phones). It is not a peak driven by Lumia and Windows Phone (which launched in small numbers in Q4). You can see that Lumia did not help decline Nokia smartphone unit sales, or revenues, or help turn loss-making into profits, until the "Lumia bottom" was hit about Q1 of 2013.