The Nokia Army

Nokia Lumia 900

Nokia has to do something and quick.  How about starting an army in Silcon Valley?

Nokia (NOK) shares keep falling hitting new 12 month lows on a weekly basis.  Nokia shares never recovered after the 2008 fall.  Since early 2008 Nokia shares are down 94%, its ugly and then some.

Nokia shares closed today at $2.50 for a terrible 3 month decline of more than 50%.  The WSJ.com did a mixed bag story on Nokia today titled Nokia Late to the Silicon Valley Party.

The positive spin in the article states:

Nokia sold 600,000 mobile devices in North America during the first quarter, compared with 500,000 in the fourth quarter. Revenue from these devices, meanwhile, was up 75% on a quarter over quarter basis thanks to higher price points.

Still, North American sales only represented 2% of Nokia's global total in the first three months of the year.

Matt Rothschild, head of retail and sales operations (at Nokia), said in an interview that relocating has given the workforce a "start-up mentality, a challenger mind-set" in the critical U.S. market. Mr. Rothschild has recently tapped that enthusiasm by creating the "Nokia Army." (source: wsj.com)

Bottom line: Its a valiant play by going back to silicon valley and making Nokia out to be the underdog player. Time will tell if Nokia can make a comeback and the same goes for its shares.

NOK CHARTS

NOK

 

NOK

 

NOK

 

Latest Headlines

Newsbot 3000

Newsbot 3000

The most relevant financial news and articles from the Internets