By Lacy Langley

Steve Ballmer is resigning as CEO of Microsoft. He readily admits his company reacted too slowly to developments in the mobile and smartphone markets. He also stated that Microsoft phone sales were disappointing. He was addressing a group of Wall Street investors and analysts, and told them that, with hindsight, he realized that the company had placed too much emphasis on its operating system and missed out on mobile phone opportunities.

Ballmer said, “I regret that there was a period in the early 2000s when we were so focused on what we had to do around Windows that we weren’t able to redeploy talent to the new device called the phone… That is the thing I regret the most. It would have been better for Windows and our success in other foreign factors.”

However, Inquisitr reports that trying to view the situation from a “glass half full” stance, Mr. Ballmer said that for Microsoft mobile the only way to go is up and went on to say that the company has significant opportunities in the market now, due to its recent acquisition of the mobile phone unit of Nokia. He thinks this will allow Microsoft to speed up development on its Windows Phone platform.

HELSINKI: Microsoft Corp on Tuesday said it would buy Nokia’s mobile phone business for 5.44 billion euros ($7.2 billion), and the Finnish firm said its CEO, Stephen Elop, would join Microsoft when the transaction closed.

Finland’s Nokia, once the undisputed leader in mobile phones, has been struggling to respond to the challenge from smartphone makers such as Apple and Samsung .

Analysts say Elop’s bold bet in 2011 to adopt Microsoft’s untested Windows Phone software has yet to pay off.

The deal is expected to close in the first quarter of 2014 and is subject to approval by Nokia’s shareholders and regulatory approvals. Nokia partnered in 2011 with Microsoft and uses Microsoft’s Windows software to run its mobile phones.