The Nokia Army
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.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- The Mechanics Of NIRP: How The Fed Will Bring Negative Rates To The U.S. | ZeroHedge
- Spend or Die! The Era of Negative Interest Rates | Financial Sense
- Pros & Cons Of Obama's $10/Barrel Oil Tax | ZeroHedge
- USDJPY Entirely Ignores Yet More Jawboning From Japanese Offcials | ZeroHedge
- “The People Who Cast The Votes Don’t Decide An Election, The People Who COUNT The Votes Do.” | ZeroHedge
- PBOC Wins The Battle: Yuan Surges To Highest In 2016, Currency War Not Over | ZeroHedge
- Bank of Japan and Oil Detracting Market's Focus from Weak GDP Report | Financial Sense
The most relevant financial news and articles from the Internets
- These people ran 7 marathons in 7 days on 7 continents | Business Insider
- Watch the 18-year-old tennis player once sponsored by Bill Ackman hit a killer trick shot | Business Insider
- This is how economic empires collapse | Business Insider
- There’s a new theory about the source of the Chipotle E. coli outbreak | Business Insider
- Wall Street is taking a pounding | Business Insider
- Donald Trump dismisses audience after getting booed at the... | Business Insider
- UBS cuts its 2016 S&P 500 target and says stocks could fall 8% in the next few weeks (SPX, SPY,... | Business Insider