/// Selling Nokia Was Hard Emotionally, but Right Thing to Do, Says Interim CEO
Nokia’s interim CEO said Tuesday that selling the company’s phone business was hard emotionally, but clearly the right move for his company. “Selling businesses is not nearly as cool, but sometimes it is the right course of action,” Risto Siilasmaa said during a press conference that was also broadcast on the Internet. “It was a very emotional decision for me.” However, Siilasmaa said that the phone industry is “becoming a duopoly” with the leaders (clearly iOS and Android) gaining increasing momentum. “Nokia alone does not have the resources,” Siilasmaa said. Microsoft, he said, does have the resources but lacked the business model under the existing arrangement, noting that Microsoft made less than $10 in revenue for each phone sold. He also tried to position the deal as something other than a blow to Nokia’s home country. Finland becomes a core base for Microsoft in Europe, Siilasmaa said, while the remaining Nokia is better positioned for the future. Microsoft CEO Steve Ballmer, meanwhile, pointed to the growth that Windows Phone has seen, with sales up 78 percent from a year ago. “Now is the time to build on this momentum,” Ballmer said.
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