Deathwatch: Nokia's tailspin towards oblivion continues
Remember when Nokia were top of the mobile phone pops? Seems like a long time ago now and it’ll be a long time before they ever get back there again. In fact they almost certainly never will, at least if their latest financial figures are anything to go by.
They’ve announced a 25% drop in net sales of all mobile phones and have unveiled an unenviable operating loss of €487m (£424m), compared to a s €295m operating profit of a year ago. Ouch. It all comes a few months after Nokia CEO Stephen Elop’s deranged ‘Nokia, our platforms are burning’ internal memo was leaked.
But it’s all going to be okay, because Nokia have teamed up with Microsoft for a ‘strategic partnership’ that involves cooking up some fancy new Windows-driven phones. Yes – that should sort everything out and result in a happy ending for both companies. Well, some kind of ending anyway…