“After revising its earnings estimates downward in May, on Thursday Nokia shared abysmal results for the second quarter,” Kevin C. Tofel reports for GigaOM.
“The onetime clear leader of the first smartphone era has tumbled down to what looks like the third spot for smartphone sales, definitely behind Apple and likely behind Samsung as well,” Tofel reports. “My first reaction to [the] results was twofold: one of sympathy and one of optimism. I thought to myself that one of Elop’s major actions so far, choosing Microsoft’s Windows Phone 7 platform for the future, was akin to quickly yanking a Band-Aid from a wound: Sometimes it’s best to just get the pain over with. But after digesting the news a little more and thinking about the path Nokia traveled to get to its current low point, I don’t see how the bleeding is going to stop this year, now that the Band-Aid is off.”
Here are five reasons why:
1. Feature phones can’t save the day
2. Existing smartphones aren’t helping
3. A smartphone answer doesn’t exist yet
4. Android squeezes at the top and bottom
5. Nokia’s brand is tarnished
Read more in the full article here.
[Thanks to MacDailyNews Reader Jax44″ for the heads up.]