Nokia, once the leading phone maker, has reported €1.4b annual loss. The company's market share is consistently declining. The failure of Nokia may be attributed to the strategy of newly appointed CEO Stephen Elop.

Instead of learning from the market and take advantage of the widely accepted and adopted platform Android, Stephen Elop chose to use the failing mobile OS of his immediate previous boss Microsoft. Elop's decision to go with Windows Phone is seen by critics as a move create a hardware delivery truck to deliver Windows Phone OS. The move has not helped Nokia at all. In an ideal world the job of a Nokia CEO would be to protect the interests of Nokia and not Microsoft.

Every time Elop talks he either trashes Android or defends Microsoft's Mobile OS. He doesn't talk about Nokia's hardware or innovation. If you watch the recent interview of Elop with the Verge you will head the word Windows in every second sentence.This may make one to think whether Elop is working to serve the interests of Nokia or Microsoft? Is Nokia board watching this? Check this video and point out how many times he uses the word Windows vs Nokia in this interview.

The Nokia has lost its traditional market in Asian countries where Samsung is increasing its foothold with Android phones.

It this decline continues what will Nokia do? The company may have resort to be acquired. With Elop in place and the price of Nokia shares being brought so low it may be an easy target for Microsoft to acquire now devalued Nokia.

Can Nokia Still Be Saved?
We have seen it with HP. The new CEO of HP started driving the company in a different direction. He shutdown some units and it was considered that HP will sell its PC unit. HP almost reached the brink of acquisition and according to reports Oracle, the now enemy of HP, was considering acquiring the company.

The HP board took the right decision and fired Leo Apotheker after just 11 months on the job and replaced him with Meg Whitman. Looking at the poor financial results and bet on a failing operating system should not Nokia board consider a move similar to HP? Should Nokia not fire Stephen Elop and bring a CEO who puts Nokia back on the track of innovation by working with the leading mobile OS Android? Can Nokia return to its glory and become the master of the mobile world with Android or will Nokia, under the leadership of Elop, reduce to become the mistress of Microsoft?

When will Nokia board make its next move? It it already too late?