It’s been a bad time for Nokia in the last year, having lost a major piece of their market cap and market share after dropping Symbian and MeeGo for Windows Phone. Their financials for the first quarter of 2012 show that that choice may have been a huge mistake.
Nokia has reported a drop of 30% in net sales from U$13.6 Billion in Q1 2011 to U$9.7 Billion last quarter. They reported a loss of U$1.7 Billion in the first three months of 2012 mainly due to restructuring, U$1 Billion towards restructuring Nokia Siemens Networks and U$132 Million towards employee retrenchments and moving most of their factories to Asia. They do however still have U$6.3 Billion in liquid cash.
It seems they are struggling more than ever having lost the majority of their smart phone market share to competitors and slow Windows Phone sales. Carriers are also said to be against Nokia’s new line of devices although the Lumia 900 is said to outsell at every corner. With their current position in mind, it’s safe to assume that a takeover is as likely as ever at the moment with the likely buyer being Microsoft, who want their own hardware vendor for all their software to run on. We’ll keep you update as more news unfolds.
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