06-30-2012, 12:55 AM
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SecretFriends.com
Industry Role:
Join Date: May 2001
Location: IMC Headquarters
Posts: 27,882
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Quote:
Nokia recently lost the world number one ranking it had held for 14 years as it attempts to survive on the rapidly changing landscape, with stiff competition from RiM's Blackberry, Apple's iPhone and handsets running Google's Android platform.
The company has been undergoing a major restructuring in the past 18 months, phasing out its Symbian line of smartphones in favour of a partnership with Microsoft.
It recently announced that massive new spending cuts and 10,000 more layoffs would be needed, in addition to the some 12,000 layoffs already announced in the past year and a half.
Adding to Nokia's problems was an anouncement by Microsoft late last week that its Windows 8 upgrade would not work on Nokia's new flagship smartphone, the Lumia 900 model which it launched earlier this year.
That caused Nokia's share price to shed 10 percent on Monday to 1.73 euros, its lowest point since August 1996 when it hit 1.71 euros, and down from 4.00 euros at the beginning of the year.
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Nokia, from leader to loser  |
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