Nokia is continuously going down the hill and even its new CEO Elop cannot put stop to this degrading condition of Nokia. Nokia is definitely a innovative company and produce some of the really good mobile phones. But it failed to handle transition from classical mobile phone to a smart phone arena.
Even their Lumia series of smartphones are unable to revive this falling giant. They are often considered to be inferior as compared to other Android phones. Nokia also lags behind in understanding the importance of multiple core smartphones. This feature is one of the most deciding factor behind choosing a smartphone but again Nokia is helpless in this field.
Some facts on the condition of Nokia:
+ After posting the results for the second quarter, it was proved than Nokia’s Lumia series is definitely not doing well. Nokia reveals a loss of 1.52 billion euros.
+ Rating agencies around the world have downgraded the rating of Nokia which is worrisome news for its investors.
+ The number of Lumia smartphones sold by Nokia in second quarter is 4 million out of which 6,00,000 are sold in USA.
+ Cash reserves with Nokia is still in better position.
I appreciate your efforts in collecting those figures.
According to me Nokia can improve their condition by using the magic formula that is they should create an ultimate smartphone which can rip apart iphone or s3 in terms of hardware.
They have some of the most innovative products on their side like Windows 8 and Nokia PureView technology. Combine these with a quad core chip and 4.5 inch display and than see Nokia giving Apple and Samsung a run for their money.
The only lifeline left with Nokia is Windows Phone 8. If it gets clinched than Nokia will prove that they are the real innovators but in case Windows Phone 8 flops than i think they better exit from Smartphone business.