Nokia’s board of directors is indeed in a state of flux during this period.
It can be said that there are pursuers behind and rivers in front. There is no way to retreat and no way to advance.
The pursuer is of course the huge debt Nokia incurred in order to develop the Symbian system and launch smartphones based on the Symbian system.
When Symbian was selling well, Nokia believed that Symbian was its future, so it concentrated all its firepower on developing the Symbian system and vigorously launched different models of Symbian mobile phones.
So at that time, Nokia recruited a large number of workers in construction factories. It even established experimental centers in different countries and recruited a large number of mobile phone talents, hoping to make Symbian mobile phones bigger and stronger.
Unexpectedly, the Symbian mobile phone did not bring a strong era to Nokia, but instead brought Nokia directly into a pit.
Blind expansion caused Nokia to owe huge debts.
The front Jianghe is of course in the Android and iOS camps.
The Android and iOS camps have achieved unexpected success in the past two years.
If Nokia spent a huge amount of money, launched overwhelming advertising, and launched a large number of Symbian mobile phones, it allowed consumers around the world to clearly understand the difference between smartphones and feature phones.
Then Android and iOS tell consumers that if you want to use a smartphone, you must buy Android or iOS.
Therefore, the smartphone concept that Nokia worked so hard to launch has become a wedding dress for others.
While the board of directors is busy paying off debts, it usually tries to find ways to make money.
In the end, the strong pressure caused Nokia's board of directors and all shareholders to collapse and decided to package and sell Nokia's mobile phone business.
At the beginning, Nokia's board of directors hired a professional organization to evaluate Nokia's mobile phone business.
The final valuation is approximately 10 billion US dollars.
This 10 billion yuan includes all industries of Nokia's mobile phone business, including the R&D department, its own production plants, machinery and equipment, land ownership, and even intellectual property technology, etc.
But valuation is one thing. Whether you can sell it after you estimate the value is another matter.
Just like a jade seller, he values his jade at 10 billion, but eventually someone has to buy it, and the 10 billion will count.
Nokia is currently a hot potato for the entire mobile phone industry.
Whoever takes over is finished.
Therefore, Nokia's board of directors is trying every possible means to negotiate a cooperation with Microsoft, and selling itself for US$7 billion is quite good.
Little did we know that Microsoft, which has always had a good cooperative relationship with Nokia and jointly launched the Windows Phone system, was not interested in Nokia either.
Microsoft casually offered a price of US$5.5 billion, paid in installments, and included a large number of equity transactions.
This makes Nokia very uncomfortable, because cooperation with Microsoft cannot solve the foreign debt owed by Nokia's mobile phone business.
Moreover, Microsoft's attitude is that I just gave you a price at will. If you agree to the price, then we will continue the negotiation. The conditions for negotiation will definitely be quite harsh, and we cannot afford to wait for a price reduction at this time.
What gives Nokia's executives a headache is the technology companies or capital around the world. Except for Microsoft, which is willing to reluctantly accept Nokia's mobile phone business unit, no capital or technology company is willing to take over.
The mobile phone industry used to be a fragrant steamed bun, but now it is like a smelly piece of shit that everyone avoids.
Just when Nokia's top management was having a headache and couldn't think of a way to prepare for a debt default.
CEO Kevinson actually brought some great news.
Kevinson reported to the board of directors: "Changtian Technology is willing to acquire Nokia's entire mobile phone business for $6 billion in cash."
After Kevinson reported the situation, the entire conference room was silent.
The first reaction of all the directors on the board of directors was disbelief.
"Mr. Kevinson, are you sure Changtian Technology is willing to acquire our mobile phone business for $6 billion in cash?"
"You should know that when we approached Changtian Technology for cooperation, we were turned away by Changtian Technology."
After one director raised such a question, many directors asked questions one after another.
"Six billion dollars in cash is not a small number."
"Is this news true?"
Kevin Kevinson is actually not a senior figure in the entire Nokia system.
The reason why he was brought to the forefront is just as a transitional figure or a scapegoat.
When Nokia's mobile phone business is sold entirely or declares bankruptcy, Kevinson's mission will be over.
Who knew that such a CEO, who was not valued by Nokia's board of directors, would actually come over to report the situation and say that Changtian Technology was willing to acquire Nokia's mobile phone business.
This is totally a timely help!
Under everyone's doubts, Kevinson immediately came up with the acquisition plan sent by Simpson.
"This is the acquisition agreement given by Changtian Technology. The agreement clearly states that the acquisition will be in cash, and as long as we are willing to cooperate, the entire acquisition process can be completed within a week."
The members of the board of directors read through the Changtian Technology agreement one after another, and they were very excited.
Judging from the content of the agreement, Changtian Technology is serious this time.
The entire agreement plan is also very complete. Even the employees of Nokia's mobile phone business department are included in the plan. Small details such as how to arrange the mobile phone business after it is acquired by Changtian Technology are also reflected in the plan.
The board of directors began to inquire in detail about the details of Kevinson's acquisition.
Because the acquisition agreement was also negotiated between Simpson and Changtian Technology, and Kevin was just passing on a message, so Kevin was busy and called Simpson in.
After seeing Simpson, the directors on the board of directors were filled with emotions.
Simpson is considered the old man of Nokia.
He was once the president of Nokia's Asia-Pacific region, and his most important task was to be responsible for the sales of Nokia's mobile phones in the Asia-Pacific region.
Simpson once established a very good relationship with Changtian Technology, and even had a very good personal relationship with Chen Xiao.
But it was precisely because of these reasons that when the rift between Nokia and Changtian Technology became wider and wider, Simpson was abandoned by Nokia.
I didn't expect that Nokia would be in its most critical moment, when it needed cash the most.
This veteran of Nokia stood up at the critical moment and brought the acquisition plan of Changtian Technology.
After Simpson entered the conference room, the entire meeting lasted for two full days.
Eventually Nokia's board of directors settled on a principle.
Now is not the time to bargain with Changtian Technology.
Now the task is to sell Nokia's mobile phone business and obtain cash as quickly as possible to repay debts and keep Nokia's communications business alive.
Thank goodness there is a company willing to emerge and acquire Nokia's mobile phone business.
Now I am bargaining with Changtian Technology. If Changtian Technology is angered, I will clap my hands and say that I will no longer acquire it.
The days left for Nokia are really numbered.
Therefore, Nokia's board of directors unanimously decided to fully agree to Changxian Technology's acquisition plan, without imposing conditions or delaying time, and fully cooperate with it.
In fact, what Nokia needs to cooperate with is to actively make this acquisition plan recognized by Finland and the European Union.
After all, such a blockbuster acquisition plan has already touched the relevant commercial regulations of the European Union.
The acquisition plan must be reviewed by the relevant EU technical committees before it can be implemented.
However, Nokia was already in the advanced stage of cancer at this time, and the wound continued to bleed.
All European countries, including Finland, where Nokia is headquartered, avoid Nokia and hope to deal with Nokia's problems as soon as possible.
Now, of course, everyone wants to meet a taker.
When Simpson informed Nokia's directors, Changtian Technology CEO Wang Xiang was in Finland at this moment.
The chairman of Nokia personally received Wang Xiang and held a grand welcome ceremony for Wang Xiang.
One day later, the two parties jointly signed an agreement at Nokia headquarters regarding Changtian Technology's acquisition of Nokia's mobile phone business.
Agreement stipulations.
Point 1: Changtian Technology fully acquired Nokia’s mobile phone business and corresponding intellectual property rights with $6 billion in cash.
One of the key points in the first point is that Changtian Technology can use the Nokia brand in the field of mobile communications.
Point 2: Changtian Technology will pay off the acquisition amount within one week of completing the acquisition process.
Point 3: After Changtian Technology completes the acquisition of the mobile phone business, it has three months as a boundary time to clean up the relevant employees of Nokia’s mobile phone business.
Among them, those employees that Changtian Technology is unwilling to hire will be dealt with by Nokia.
For employees who have not been laid off by Binchoten Technology within three months, the employee's employment contract with Nokia will be automatically transferred to Binchoten Technology.
This can be regarded as protecting the rights and interests of ordinary employees, so that these employees can be protected from being affected as much as possible during the education process between the two parties.
After the agreement was signed, Changtian Technology immediately transferred the first batch of 2 billion US dollars in cash to Nokia's account.
One month later, in July 2012, the two parties completed all acquisition procedures.
All the $6 billion went into the account at Nokia headquarters.
Chen Xiao sent Luo Ning to Finland to replace Wang Xiang and continue to complete the subsequent acquisition work with Nokia.
Wang Xiang returned to Changzezhou to take charge of the overall situation.
Changzezhou.
Chen Xiao feels like a child who likes toys.
If you like a toy, buy it.
It's very satisfying when spending money.
But when I actually bought the toy, I found that there were so many parts that I didn’t want to assemble it at all.
The toy in my hand now is Nokia.
See the asset report of Nokia’s mobile phone business provided by Wang Xiang.
Chen Xiao has some headaches.
Nokia's mobile phone business has a very broad global footprint.
We have our own production plants in Xiaguo, Romania, Mexico, India, Vietnam and even Masan, South Korea.
R&D centers are mainly located in the United States, Germany, Finland and China.
Chen Xiao looked at these factories and R&D centers with a headache.
Factories are available.
After all, in the future, Changtian Technology will not be able to rely solely on Jiangzhou's factories to make its own mobile phones.
Moreover, if Changtian Technology’s mobile phones are to be sold all over the world, especially to Europe and the United States, then some local benefits must be tasted.
Therefore, it is very necessary to keep overseas factories.
For example, important sales channels such as Nokia sales center and experience center must also be retained! This is very important.
As for the R&D center.
Nokia has been working on the Symbian system.
Is it necessary to keep the R&D center that develops the Symbian system?
Of course, Chen Xiao said to Wang Xiang: "If it is communication baseband, chips, motherboards and other R&D centers, they can be left. Regarding the R&D centers of the Symbian system, I will close them all."
Chen Xiao was also speechless because there were actually some real estate properties belonging to Nokia's mobile phone business.
In addition to some commercial properties in Europe, there are actually several villas in Finland, Switzerland, France, the United Kingdom and Australia, and the United States.
These villas were originally listed on Nokia's mobile phone business-related departments and were provided for Nokia's executives to live in.
Now Changtian Technology has acquired the entire mobile phone business, and of course these assets have also been acquired.
It's not just a villa in the UK, but a small castle with a history of more than 100 years.
When Chen Xiao saw these things, he didn't know whether to cry or laugh.
It's like buying a toy and giving you a lot of free gifts.
But then again.
From now on, Chen Xiao will not need to stay in a hotel when traveling overseas with her relatives or friends.
Wouldn’t it be nice to have a villa in a wealthy area or a castle with a lot of history?
Wang Xiang looked at Chen Xiao's weird expression and said with some helplessness: "Actually, among the fixed assets of Nokia's mobile phone business, the real value is not the factories or R&D centers, but these villas and castles.
.”
This may not sound right, but it seems to be the truth.
It's similar to a certain A-share listed company in Xia Guo. After working hard for a whole year, it didn't make a dime in its main industry and suffered a lot of losses. Instead, the company sold its office building. Hey, now
Well! Profits increased by 200% last year!
What gives Chen Xiao the most headache is not just Nokia’s global assets, but Nokia’s 30,000 employees around the world.
Changtian Technology's industry is so large and covers many industries.
The total number of employees is less than 3,000, and Nokia suddenly has 30,000 more employees.
Fortunately, Chen Xiao had a detailed understanding of the contract status of these employees.
Nokia has signed short-term contracts with most of these employees, and only a few have long-term contracts.
Moreover, Changtian Technology has reached an agreement with Nokia. Changtian Technology can unconditionally fire these employees within three months, and Nokia Corporation will handle the aftermath.
Chen Xiao said to Wang Xiang: "Retain employees in key positions. The so-called key positions are R&D personnel in important R&D centers and technical personnel in factories."
Chen Xiao set another number for Wang Xiang, "The total number of people should not be higher than 500."
"Sales channel personnel can be transferred to third-party platform companies for management, but the sales channels must be retained."
Wang Xiang was shocked when he heard what Chen Xiao said.
No more than 500 people.
That is to say, some overseas factories may only have two or three managers left and all workers will be laid off.
But Wang Xiang understood Chen Xiao's intention immediately.
The reason why Changtian Technology acquired Nokia was that it was not interested at all in the so-called fixed assets or technical personnel held by Nokia.
All we want is a permanent key to the European market.
As long as the company's name is still Nokia, as long as the management is still white-skinned and blue-eyed.
Then the resistance for Changtian Technology to enter the European market will be greatly weakened.
Chen Xiao announced another most important thing.
"After completing the acquisition, Nokia Communications Technology Co., Ltd. was established and Simpson was appointed CEO."