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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Nth_Man
Member since:
2010-05-16

In Nasdaq ( http://finance.yahoo.com/q/bc?s=NOK&t=2y&l=on&z=l&q=l&c= ) yesterday Nokia was 1.85 and now is 1.70

Reply Parent Score: 2

cdude Member since:
2008-09-21

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: http://online.wsj.com/article/SB10000872396390444330904577538622058...

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

Nth_Man Member since:
2010-05-16

Thanks! I found that the Wall Street Journal has that article:

Nokia's Red Ink Worsens
http://online.wsj.com/article/SB10000872396390444464304577536440351...

An image from the article:
http://si.wsj.net/public/resources/images/MK-BV835_NOKIA_NS_2012071...

And some words from the article:
"Nokia remains in a downward spiral"

Reply Parent Score: 2