Linked by Thom Holwerda on Thu 19th Jul 2012 18:32 UTC
PDAs, Cellphones, Wireless Nokia just posted its quarterly results - including shipped devices - and it's not looking good. Massive losses, sales dropping, and no growth in Lumia sales in the US. The company is losing money hand-over-fist, and with Windows Phone 8 still months away, the company warns the next quarter will be just as bad.
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Member since:

At the time of writing Nokia is up 6.36%

Yesterday it was more then 14% more. Within one day they lost more then 8% again. Tendency future down. The market reacted positive cause Nokia's cash reserve was far above expectations and for a company in that situation (junk-state rating) the cash reserve is everything.

Nokia's market cap is down to 6.3 billion $. Google payed more for Moto while Nokia has still one of the best patent portfolios worth billions, navteq, networks, brand and those 4 billions in cash. The market clearly believes Nokia is losing a lot more before it can stop the downfall either with selling products (unlikely taken the long timespan and competition into account) or itself (eitger as a whole, unlikely to happen, or in parts, brings more cash in). When Elop is fired today you would see the same day a huge jump up at the end of the curve displayed at:

Edited 2012-07-20 18:01 UTC

Reply Parent Score: 2

Nth_Man Member since:

In Nasdaq ( ) yesterday Nokia was 1.85 and now is 1.70

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cdude Member since:

What equals a lose of 8.1% compared to yesterday.

Meanwhile we get confirmation for the markets pesimistic view in Nokias feature. Fitch just downgraded Nokia from junk-state 2 more states down. Not 1, no, 2 more to toxic-state:

Thats the next disaster news for Nokia. But it becomes even better. Read the link, with negative outlook! "it might cut the rating further."

"Nokia doesn't seem to have the products in its portfolio to stem the recent losses, Fitch said, adding that tough competition in the industry will probably make it hard for the Finnish company to re-establish a significant presence in the smartphone market."

Edited 2012-07-20 19:56 UTC

Reply Parent Score: 1