Nokia shares drop 14% following scary profit warning

April 12th, 2012 10 Comments By Mof Gimmers

1178363122 nokia 2630 136x300 Nokia shares drop 14% following scary profit warningNokia have been getting their asses handed to them in a tall hat for some time now. Basically, since everyone decided that they wanted a smartphone, the Finnish company have been losing ground.

Nokia has predicted a €126m first half loss, blaming software problems and the strong competition from smartphoneland. And shares have plummeted by 14% this week as a result. This will be the sixth quarter in a row in which Nokia have lost money.

This hasn’t been helped by the slow sales of Nokia’s Lumia smartphones, which in fairness to everyone who didn’t buy one, weren’t very good and pricier than your average smartphone. It feels strange to see a company so willfully out of touch with the market, considering just how hugely dominant they once were.

That said, if you needed to break an intruder’s skull, you’d want the Nokia 3310 in your corner, rather than a wimpish smartphone.

However, everyone wants a phone that isn’t what Nokia are currently offering and this profit warning comes on the back of the company admitting that their latest Lumia handset has a software bug which means it drops data connections to the AT&T network, which it just happens to be exclusively sold on. Nokia are offering a $100 credit to anyone who has bought one of the phones, which is all well and good, but it isn’t exactly going to stop people from switching from iPhones and Android phones, is it?

[Guardian]

Comments (10) Jump to most recent comment
  1. Posted by Fantastic Mr Fox April 12, 2012 at 7:15 pm

    Noika are dicks. They had the best mobile platform and burned it for fucking Windows. Twats.

  2. Posted by Sicknote April 13, 2012 at 8:14 am

    Face it, Nokia were a bunch of lazy fuckers for so many years serving up the same old crap to customers and generally not giving two shits. Then you get companies like HTC, Samsung and of course let’s not forget Apple and all of sudden Nokia appear to get the dinosaurs on the block.

    And, like the dinosaurs coming to an end so must Nokia.

  3. Posted by The Real Bob April 13, 2012 at 9:01 am

    I have to say, Symbian was a piece of shit, it stagnated for 10 years, was in no way innovative for that period and generally deserved to be buried. Saying that I’ve got a mate who worked for them as a dev (smart bloke, phd) and he spent the last 5 years prior to be being made redundant waiting to be made redundant because the management buried their heads in the sand and ignored what was going on around them.

  4. Posted by Wonkey Henry April 13, 2012 at 9:25 am

    @Fantastic Mr Fox

    Up for a bumming ?

  5. Posted by Phil76 April 13, 2012 at 10:26 am

    What’s this shit about the 3310? The 3210 was the serious robust one, they made the 3310 with crappy plastic changable covers that seemed designed to snap.

  6. Posted by Phil76 April 13, 2012 at 10:27 am

    Oh, and ever since Nokia chummied up with MS they deserved everything that’s gone wrong.

  7. Posted by Bazinga April 13, 2012 at 10:36 am

    Should have gone with Android.

  8. Posted by Bazinga April 13, 2012 at 10:37 am

    3210 had changeable covers too. 5110 could poke people in the eye with the antenna, and the cover only changed at the front – that’d be my choice.

  9. Posted by Mary Hinge April 13, 2012 at 10:59 am

    Nokia fill the gap left by the smartphones, I only buy the cheapest phones as I don’t want all the shite, I haven’t been swept up by all the hype and nescessity to maitain constant contact with 500 people I don’t know or care what they had for fucking breakfast! I struggle to find anything that doesn’t look like it’s a chewy dog phone! That’s where Nokia comes in.

  10. Posted by Zleet April 13, 2012 at 12:11 pm

    Nokia are still around!?!

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