Just how much is a partnership with Microsoft worth? More than $10 million if you’re the CEO of Nokia, the handset-manufacturing giant.
Stephen Elop took home $10.5 million (approximately 8 million euros) in 2011 after striking a deal with the Redmond, Wash.-based software company and rolling out the first smartphones based on Microsoft’s Windows Phone operating system, Bloomberg reported. He’s in line to get a bonus of 750,000 company shares if Nokia’s stock price can hit 9 euros ($11.87 U.S.) by the end of the year, according to an SEC filing. But that will be an uphill climb because the stock is currently worth less than half that price.
Elop still has a big job ahead of him. Nokia’s sales of feature phones have started to flounder around the world, but particularly in advanced markets where smartphones have become the handsets of choice for the majority of consumers.
Nokia’s Lumia series of phones is just starting to take off. The Lumia 900, an LTE phone aimed at both the consumer and businss markets, is expected to make its debut in the U.S. with AT&T on March 18. It’s rumored to go for $100, a price that could make some of its prime competitors jealous.