Why It Is Not Yet Time to Write Off Nokia
Cameron Kaine submits:
To say Shares of smartphone maker Nokia (NOK) have been taking a beating in recent days would be a gross understatement. The stock lost 14% of its value on Tuesday and appears to be headed for another brutal beating as of this writing.
The company warned it might not book a profit in its core cellphone business this quarter, as the struggles in a smartphone market are increasingly dominated by nimbler rivals such as Google Inc. and Apple Inc. The profit warning also led analysts to predict Nokia’s days as the largest mobile phone company in the world could be numbered, with one suggesting its market share could be cut to just 15 percent by the time it launches its Microsoft Windows 7 smartphone. It has, by their own admission, been a tough couple of years.
Nokia’s bleak outlook, including sharply lower sales forecasts, sent its shares tumbling to theirComplete Story »