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Old 06-15-2012, 07:41 PM
ANACONDA
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Default Beleaguered Nokia implodes, taking Microsoft’s mobile dreams down with it

Beleaguered Nokia implodes, taking Microsoft’s mobile dreams down with it
Friday, June 15, 2012 · 4:15 pm

“The once-great Finnish cell-phone giant Nokia is now undergoing one of the most spectacular implosions in the history of business,” Henry Blodget writes for Daily Ticker. “Several years ago, Nokia was the undisputed heavyweight champion of the world when it came to making phones. Now, the company is frantically cutting costs and downsizing in a desperate bid to survive.”
“What happened?” Blodget writes.” The iPhone happened.”

Blodget writes, “In the five years since Apple released its first iPhone, Nokia has lost a staggering 90% of its market value… Because Microsoft and Nokia are now in bed together, moreover, Nokia’s problems have become Microsoft’s problems. Microsoft is desperate to regain some of the ground it has lost to Apple and Google in smartphones. But its one major global partner, Nokia, is now drowning. So that puts Microsoft back at square one again.”

Read more in the full article here.
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