Nokia now worth three months of Apple cash

[Sitlay]

Here’s the latest for NOK from Google Finance. See Nokia’s current market valuation? It’s barely hovering at $25.54 billion. This means Wall Street is now valuing the #1 handset maker in the world at about the same as Apple’s last quarterly revenue of $24.67 billion. Apple’s market valuation? $321.81 billion. Another way of looking at it? Nokia’s phone business could be also worth less than Skype.

Nokia yesterday issued profit warning, telling investors to brace for impact. Stephen Elop, the CEO, told investors on a conference call that “Android is gaining strength”, adding “Apple is Apple, of course”. as Apple and Android cut into its sales on the high-end and cheap Chinese phones ate its lunch on the low-end. Shares immediately stumble 18 percent, a thirteen-year low for the company, erasing nearly four billion euros in market value. An increasing number of investors are now worried that by the time Stephen Elop pulls its magic tricks with Windows Phone, Nokia might surrender so much market share that it would never recover. Look no further than the latest numbers…

Even though Nokia is still the leading phone maker in the world, its market share has been evaporating at a rapid pace – especially in smartphones. According to IDC, Nokia went from a 38.8 smartphone market share in the first quarter of 2010 to 24.3 percent a year later, while Apple’s share grew from 15.7 percent to 18.7 percent in the same period. Nokia sold 24.2 million smartphone units versus 18.7 million iPhones, making Apple the second-best smartphone vendor globally.

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[Heist]

A shame.
And to think they dominated the handset arena a scant ten years ago.
If you could break out Motorola's handset business from their financials, I bet the news would be equally as grim.

[l8ter]

No wonder , did you ever had an N97 in your hands and learned what the crappiest ever produced touchscreen is ? A neighbur of mine got it , and i laught my ass of about the weird experiences he makes with this piece of junk , and that was not long ago nokias top device . Hillarious

Maybe they made in the meantime something better, but the customers that went off the nokia brand and switched to another brand dont return that fast..

Thats what i call an own created and previewable scenario.

Nokia = lol