BMO cuts beleaguered Nokia to sell, doubts Windows Phone appeal

Tiernan Ray reports for Barron’s, “BMO Capital Markets’s Kevin Manning this morning cut his rating on shares of Nokia (NOK) to Underperform from Market perform, while maintaining a $2 price target, after cutting his estimates, writing that he’s skeptical about the Windows Phone software the company licenses from Microsoft ‘becoming a meaningful player in the smartphone segment.'”

“Manning cut his estimate for this year to €29.1 billion in revenue and a net loss of 34 cents per share from a prior €29.4 billion and a 31-cent loss,” Ray reports. “For 2013, he cut to €25.3 billion and a 25-cent loss from a prior €27.6 billion and an 8-cent loss.”

Ray reports, “Manning writes that he’s expecting Nokia to sell only 20 million smartphones next year, and he’s unequivocally negative on the appeal of Windows Phone.”

Read more in the full article here.

[Thanks to MacDailyNews Readers “Tayster” and “Rainy Day” for the heads up.]

9 Comments

  1. I wonder if Microsoft in their desperation throw their tiles and agreement with Apple out the window and end up slavishly copying the iPhone design too? It’s gong to be pitiful and ugly if their tablets fail too as PC sales plummet. The time to have replaced Ballmer may have already passed to avoid Redmondgeddon.

  2. I used Windows on the desktop throughout the 90’s and that taught me a really good lesson. That is, never rely on anything Mucrosoft makes to be secure and more importantly, stable.

    Years of blue screens of death on the PC, red rings on the XBox. Broken tiles on the phone?

    It is incredible Mucrosoft is still in business. How can any business, in any industry, sell a product that has been seriously flawed for so many years? It is beyond me how these second-rate software developers make money like they do.

    Now Mucrosoft is attempting the mobile platform. Well, good luck to all those who try it out but in the end you’ll suffer the same pain millions of users have endured on the desktop.

    Oh, I need some paracetamol.

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