Featured Posts

Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

Read more

Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

Read more

Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

Read more

Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

Read more

UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

Read more

Will Nokia’s Bold Bet Soothe Shareholders?

Category : Business, Stocks

NEW YORK (TheStreet) – In an effort to stave off bankruptcy, Nokia is trying to maintain its foothold in the smartphone race, competing with the likes of Apple and Google’s Android. The company hopes that its recent aggressive actions will allow it to compete and survive. If not, it risks fading away.

The Finland-based phone maker has been floundering for months; shares have dropped more than 54% since early April. In attempt to “return the company to profitable growth,” Nokia plans to shakeup senior leadership, cut 10,000 jobs by 2013, close 3 factories, improve Lumia, its smartphone, and sell Vertu, its luxury mobile phone business.

Despite these major restructuring plans, analysts (and investors, if the 11% post-announcement share plunge is anything to go by) are struggling to see how Nokia will fit into the mobile phone landscape. …

Click to view a price quote on NOK.

Click to research the Telecommunications industry.

Link: Will Nokia’s Bold Bet Soothe Shareholders?

Penny Stock Picks

Post to Twitter

Post a comment