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
- Half The Population Of America And Canada Uses Facebook At Least Once A Day | ZeroHedge
- Bernie Supporters Boo, Chant "No More Wars" As Leon Panetta Pitches Hillary's War Credentials | ZeroHedge
- Goldman Raises September Rate Hike Odds To 30%, Sees 70% Probability Of Another Hike in 2016 | ZeroHedge
- Facebook Soars After Smashing Expectations: The Quarter In Charts | ZeroHedge
- Marc Faber: Invest 25% Of Investment Portfolios In Gold Bullion | ZeroHedge
- “Could Not Invent A More Bullish Story For Gold Bullion” | ZeroHedge
- Martin Armstrong: Throw Out the Fundamentals—Negative Rates Could Push the Dow Up to 40,000 | Financial Sense
The most relevant financial news and articles from the Internets
- How to figure out if you're financially on track | Business Insider
- WePay expands to the UK | Business Insider
- A $15 billion tech deal just landed, and there are 2 big... | Business Insider
- The top 5 must-know retail trends in mobile and social... | Business Insider
- Michael Bloomberg just summed up the election in one sentence | Business Insider
- A man who studied rich people for 5 years pinpointed a 15-minute daily habit... | Business Insider
- Apple CEO Tim Cook can’t pronounce Pokémon but he still thinks it... | Business Insider