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Monday, July 16, 2012

Nokia sleeps before it's dead

Nokia Lumia 800
Nokia Lumia 800 (Photo credit:John.Karakatsanis)
Before we have even polished off the bottle of whisky needed after listening to RIM's painful figures, Nokia is heading our way with its second quarter results, due on Thursday.
I would normally wait until results day before shedding a tear for what was once a great company, much like RIM, but with the news today it is slashing the price of its flagship phone - the Nokia Lumia 900 - to just $49.99 (£32) we all know there cannot be good news coming our way.
The Finnish mobile manufacturer has struggled in the past few years due to the growing competition of smartphones from faster and sleeker developers at the likes of Apple, as well as missing the boat of adopting Android, whilst all the smaller guys grew from the partnership - again, much like RIM.
It lost its spot as the largest mobile manufacturer to Samsung, had cut 10,000 jobs and pledge €1 billion for on-going restructuring - if I say much like RIM any more times...