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.
Zilliacus spent over 15 years as a Nokia employee including seven where he was its Asia-Pacific CEO. He left in 1993 but spent another three years under Nokia's payroll as a regional consultant. He left to become an entrepreneur and currently runs investment company Mobile FutureWorks, which advisors include former Nokia's mobile phones CEO Jorma Nieminen and Ericsson's former CEO Sven-Christer Nilsson.Zilliacus, in fact, tried to buy out Nokia a year ago with the aim to steer the company toward a strategy focused on
Android, but was unable to raise enough funds to do so despite approaching several global sovereign wealth and equity funds.
