Beleaguered Nokia implodes, taking Microsoft’s mobile dreams down with it

“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

49 Comments

  1. 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.

    1. 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.

      1. 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

    2. 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.

        1. 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.

    3. 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?

      1. 🙂 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.

  2. “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.

  3. 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.

Add Your Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.