Rajeev Suri has only been the CEO of Nokia Siemes Networks since October 1, 2009, yet he managed to drop this quote in Finnish newspaper Helsingin Sanomat:
“In early 2008 we made a strategic decision to focus more on cash flow and profitability than on the market share. Now it’s time to give it up and to focus solely on the market share.”
If you have any Nokia or Siemens stock, now may be the best time to dump it. [Hat tip to Reda!]
If you’re a wireless operator looking to roll out a brand spanking new network on the cheap, call Rajeev, he give you a very good price my friend!
[Via: Reuters]
Update: Got an email from the head of Media Relations at NSN:
Hi Stefan
I noticed the interesting “spin” you put in the headline of your piece today. Rajeev did a long interview with Helsingin Sanomat and this piece has been subject to some misinterpretation, perhaps understandable with the back and forth from an English interview, into Finnish and then translated back to English. Certainly your use of a colon suggesting that Rajeev said at any point “forget about profits” is highly misleading.
What Rajeev actually said was “it is time to move on from that strategy [focusing on profitability and cash] and really to drive for growth; not growth for growth’s sake, but to drive for market share. And that drive comes from deal momentum… And then thirdly we need to prioritise cost leadership.”
Cheers,
Ben Roome
Head of Media Relations
Nokia Siemens Networks
+44 7827 300 203