“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.
MacDailyNews Take: Verilöyly.
[Thanks to MacDailyNews Reader “Tayster” for the heads up.]
Related articles:
Beleaguered Nokia to axe 20% of workforce, close only plant in Finland; stock crashes – June 14, 2012
Microsoft’s Nokia Lumia says the best smartphone is Apple’s iPhone – May 14, 2012
Fox News reviews Microsoft’s Nokia Lumia 900 Windows Phone: ‘Disappointing’ (with video) – May 12, 2012
Beleaguered Nokia hit with class-action lawsuit over weak Lumia Windows Phone sales, deteriorating market share – May 4, 2012
Beleaguered Nokia dumps sales chief as Lumia Windows Phones flounder, promises more cost cuts after Q1 loss – April 19, 2012
Euro carriers: Beleaguered Nokia’s Windows Phone not good enough to compete with Apple iPhone or even Samsung phones – April 17, 2012
Mossberg reviews Microsoft’s Nokia Lumia 900, can’t recommend it over superior iPhone 4S – April 5, 2012
Wow! Microsoft wasn’t much help? What a surprise!
The corporate blind leading the blind. Let this lesson resonate for decades. A stagnant pool collects scum.
I thought Nokia was indestructible ….literally
DIE MICROSOFT
And wasn’t that with Microsoft paying Nokia $1 Billion for Nokia to use Windows Phone OS for its smartphones?
Nokia really needs to release an Android-based Nokia phone yesterday. It’s the company’s only chance at remaining open.
I actually want to see Windows Phone do well enough to give google a run for its money… I hate android that much. I’d rather watch as droid and wp7 took eachother apart while the iPhone just kept growing in market share.
I’m absolutely with you on this. iOS versus WP7 would be an honest fight between two different ways of doing things, instead of the current battle between iOS and its ripoff clone.
——RM
With the deal the cut with MS, it’s probably too late to release an Android phone.
As much as I hate Android, Nokia should have released an Android phone a long time ago. But, they were too proud and arrogant at the time, and now ended up with Windows Phone OS. Since they actually DO make good hardware, they could have given Samsung a run for their money in the Android space.
Now this new “plan” to make cheap crap Windows phones to try to undercut the cheapest crap Android phones is going to be the end of them.
Remember Android has IP issues. Nokia chose WinMobile because they didn’t want to get into a lawsuit fight with Apple.
At the time, I’m not sure that is really what they were thinking.
They were still thinking that they were going to battle iOS with Maemo/MeeGo.
In recent times, and of course with ex-Softie Elop at the helm, MS was the only choice.
Add Microsoft’s stock goes up 2.32%. Apple’s stock goes up 0.45% even after killing of a second smart phone maker in less than a year. If Apple takes out the leading Android cell phone maker will it go up 1% or just a 1/2% Idiots!
When does this stupidity end? Will Apple need to have their stock value match the cash in the bank?
Once again I’m ahead of the market. I had Nokia $8 puts last year. Rats!
Substance talks
To the novices on this site:
Verilöyly. >> Bloodbath / Massacre.
http://en.dicios.com/fien/veriloyly
And it truly is one. 😀
novices = no vices = pure, as the driven snow
Yes, we are ; )
🙂 well… you have to start somewhere 🙂 Welcome, by the way 🙂
The tradition is, anytime we hear of a product that is axed, or a company that sinks, MDN posts “Bloodbath” in the take, usually in their native tongue, and occasionally in drippy horror movie font.
Horror movie.
“Elävien kuolleiden yö”
😀
Verily verilöyly even!
Verta kiukaalle!
married with death
“What happened?” Blodget writes.” The iPhone happened.”
Proof that even a lying, scum sucking crook can make honest sense every now and then.
Sort of like the blind pig and the truffles.
Back in the day, Nokia used to build phones with the best sound quality.Reception was the best. Talking and hearing was great, and I was a loyal Nokia customer.
I’ve had 3 or 4 Nokia phones, which I really like. The last one I got was a piece of junk. I chose Nokia because of my past experiences. This new phone was awfully bad. Awful sound, awful reception, the phone used to crash or lose connection for no reason… terrible and dissapointing experience.
it’s sad. They lost a customer. I’m looking for alternatives now.
Looking for alternatives?
What, you want a V8 bottle to knock you in the side of your head?
The ‘MS TAX’ at it’s finest!
And the bozo who went there from MS will no doubt bankrupt the company when he receives some godawful payout for his “services”.
Nokia was walking dead before Elop got there.
Yep…Microsoft kiss of death strikes again.
Microsoft needs to get together with Samsung now!
Samesong is already making WinPhones.
We can only hope that it leads to their demise too.
Forgive me a very loud and long satisfying cruel chuckle, guffaw, laugh, and maniacal cackle.
When you are in quicksand up to your chin, you realize that Microsoft, standing on your shoulders, waving billions while whistling the Finnish national anthem, sucks even more.
It’s like watching two bloated, out of shape people who can’t swim counting on each other to survive in the middle of the deep end.
Only old ladies & soon to be castrated men use Nokia phones. They’re going to the dustbin of history along with Ballmer’s pet monkey, Mr. Burning Platform Elop.
Microsoft Midas Touch… Booyah!
The linked article speculates that Microsoft may announce its own “Zune” tablet… LOL
wow.
how sad.
so may jobs lost.
but
stop blaming Apple!!
since when is doing your best sinful?
if no one can handle Apple’s competition, so be it.
it sure as hell is not Apple’s fault!
Apple is involuntarily, consequentially the world’s catalyst for Economic Tsunamis!
Stop blaming Apple for your demise or stupidity.
every casualty is not due to Apple but self-inflicted.
it’s neurotic, lazy to think otherwise.
like Madonna taught us: “Are you afraid of who you are”
like Michael Jackson taught us: look at /blame yourself “Man in the Mirror”
like Nike taught us: “Just Do It”
like Audi taught us: Lead. Don’t Follow.
like Apple taught us: surveys are useless, create something new, if behind – leapfrog (your competitors)!
like Apple taught us: “Think Different” and “It’s the Crazy Ones, who think they can change the world (for the better), that do”
like Nietzsche taught us: “God is Dead” – meaning: stop bitching – be your own deity, create your own Epic Shit
amen!
Only a real mensch could put Michael Jackson and Freddie Nietzsche in the same comment!
Well said!
M-
Amen, indeed.
But Nokia and Windows Phone were going to triumph over the smartphone market!
What happened? Could the viral marketers I heard this from have been wrong?
“What happened?” Blodget writes.” The iPhone happened.”
“PC guys are not going to just figure this out. They’re not going to just walk in,” — Ed Colligan, 2006, CEO of the now-deceased Palm.
“500 dollars? Fully subsidized? With a plan? I said that is the most expensive phone in the world. And it doesn’t appeal to business customers because it doesn’t have a keyboard. Which makes it not a very good email machine… I like our strategy. I like it a lot.” — Steve Ballmer, 2007.
Swirling the bowl…
Schadenfreude. So tasty.
Frack Microsoft. This is a great event from that point of view.
But I was hoping Nokia would step up and actually COMPETE with Apple. As I am ever saying: Apple requires competition! Watching all these wannabe companies hit the skids is getting depressing and does not bid well for the future. A monopolist Apple is not a good thing. Even if that does not happen, I don’t want to watch only Apple coming up with seriously innovative technology. What the frack has happened to innovation in the rest of the industry?!
Get moving new innovators! Your services are required right NOW!
Oh and Samsung: FRACK OFF and die already, simpering little ripoff roaches.
Samsung is winning because they copy Apple slavishly!
Could not happen to a nicer company. Sorry for all the workers losing their jobs because of management ineptitude.
Todellinen verilöyly todellakin.
Real bloodbath indeed.