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At our core, Microsoft is the productivity and platform company for the mobile-first and cloud-first world.

As the leadership team, we're taking bold and decisive action to evolve our organization and culture. This includes difficult steps, but they are necessary to position Microsoft for future growth and industry leadership.

The mobile-first, cloud-first is a very rich canvas for innovation - it is not the device that is mobile, it is the person that is mobile.

I think reconceptualizing Microsoft as a devices and services company is absolutely what our vision is all about. Office 365 and Azure on the services side are representative of it.

The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster, and continue to transform.

I think Microsoft will have to change. I think that the business of Microsoft, the company of Microsoft, is going to continue to succeed. But I think the business model of Microsoft is going to have to change.

If you bet on Microsoft, you are not going to ask anymore, 'Hey, where is the innovation?' The challenge going forward is how do we keep up with it.

Future is mobile computing - smartphones and tablets are just elements of it. The industry is on the verge of a whole new paradigm.

Going forward, we will focus on building the very best Windows phones on a quicker timeline. We will also focus on the channels and markets that offer the best returns. This is a similar approach to the one we have taken with Surface, which has been very successful.

Well we have a good working relationship with Microsoft at the development level. But let's not kid ourselves, this is a company with enormous resources and talented people, and there is a certain pride that comes along with that for them and for us.