It was the Nokia board that made a bonus clause in Elop's contract if he managed to sell the company.
"Now We Know Why - Nokia's Elop had a $25M personal bonus clause from the Nokia Board if he was able to sell the handset unit to Microsoft"
http://communities-dominate.blogs.com/brands/2013/09/now-we-...
Blame Nokia board, not Microsoft!
But yes, Nokia itself was most to blame for its failure to "pee in its pants" and adopt Android when it still had 2x Samsung's market share in phones.
Check the The Register articles about the whole Symbian vs Maemo.
The prior Nokia leadership openly mocked the iPhone as a non-threat, and then the company got destroyed by what it represented. Their arrogance was integral in Nokia's suicide.
The only thing you'd ever need to know about Nokia's downfall is represented in this graphic:
http://i.imgur.com/m2pSsHk.png
And this article [2008]:
"Shares of Nokia Corp. fell as much as 10%" ... "Nokia Chief Executive Olli-Pekka Kallasvuo on Thursday brushed off suggestions that Nokia needs to do more to fight back the foray of iPhone onto its home turf, calling it a ‘niche product."
http://macdailynews.com/2008/04/17/nokia_shares_slammed_in_w...