Nokia post a $1.7 billion loss for the quarter

[BladeVenom]

Nokia Posts Another Quarterly Loss As It Hangs On To Cash

There was a narrower-than-expected loss of 1.4 billion euros ($1.7 billion) or 0.08 euros per share, and Nokia managed to cling on to its cash pile. The Finnish company’s cash at the end of the second quarter stood at 4.2 billion euros, higher than the 3.8 billion euros expected by analysts.

How long will Nokia last? They still have money, and sell a lot of phones, even if they aren't doing well in the smartphone arena.

 

[jpeyton]

Nokia lost money but actually increased their cash reserves, due to MS and their big quarterly payouts for Nokia adopting Windows Phone.

How long can they last? Probably another 2 years assuming continued losses. Indefinitely if Windows Phone takes off.

 

[Dr. Detroit]

Laying off almost 50% of its workforce will reduce its costs significantly. 10,000 cuts expected this year.

They moved 4-million Lumia phones in the quarter and are gearing up with Windows 8 launch on all new hardware. Plus their not so smart phones sell very well in developing countries.

They are not going anywhere.

 

[smartpatrol]

NOK actually went up almost 7% today. Apparently it wasn't as bad as people were expecting.

It's still pretty depressing to think that their stock was around 7.60 a year ago, and hit 40 5 years ago (it closed at 1.85 today).

 

[crisscross]

They laid of R&D... not a good sign for a co. which expects to go head on against Apple/Samsung.

 

[akugami]

Laying off almost 50% of its workforce will reduce its costs significantly. 10,000 cuts expected this year.

They moved 4-million Lumia phones in the quarter and are gearing up with Windows 8 launch on all new hardware. Plus their not so smart phones sell very well in developing countries.

They are not going anywhere.

Here's the problem, "dumb" phones are much lower margin products. That's compounded by the fact that developing countries are usually lower priced as well. While it looks good for revenues, it's not great for profits. The premium branded phones market, which is where Nokia made its massive profits, is basically usurped by Apple and Samsung at this point.

Unless Nokia puts out an amazingly attractive product in the near future, I don't see how their fortunes are going to change. It's going to be a downward spiral. Microsoft isn't helping things either. Windows Phone as an OS isn't bad, I haven't had as much time to play with one as I'd like but at the same time it's not garnering much press.