Nokia drops MeeGo phone before launch (Reuters)

Nokia drops MeeGo phone before launch (Reuters)

Also, seeing an ex-MSFT guy vouching for Windows 7 on Nokia handsets sounds suspicious and makes one thing whether this departure from Meego is not an unplanned one.

What's remarkable is that someone thought it would look great to have a publicity shot of the guy shaking hands with his former boss at Microsoft, presumably not understanding how anyone with any familiarity with the guy's career path might interpret it.

To stabilize, they can temporarily drop out of smartphone business

Stabilize in terms of applying the skills of the employees or to shore up the financials? I don't think we need dignify the former with any analysis as it's clear that they have to flush lots of logistics and organisational pipelines in order to follow their new strategy, and I imagine that the "MBA way" here is to lay people off.

Leading into the latter, the reason why the stock market was punishing them is down to the straightforward connection between valuations and future earnings. When a company effectively says that the part of the market that is supposedly really profitable, which they were told to enter as soon as possible, is now not going to be addressed at all with actual products until next year, guess what that does to the bottom line. Now guess what happens to the stock price.