Questionable financials spark new rumors that Nokia is going to sell its handset business
1. Droid_X_Doug (Posts: 5993; Member since: 22 Dec 2010)
Sammy is going to buy Nokia. Patents plus camera technology portfolio provides a nice firewall against Apple.
6. sats.mine2k4 (banned) (Posts: 208; Member since: 10 Aug 2012)
Agree totally, Minus their camera tech...Nokia's lumia line is just PURE crap...
18. SonyXperiaNexus (Posts: 374; Member since: 01 Oct 2012)
im missing that thumbs down button
22. Nathan_ingx (Posts: 3151; Member since: 07 Mar 2012)
Just type 'A big red down thumb for you'...all said and done!
30. Boreni (banned) (Posts: 28; Member since: 22 Feb 2013)
Huawei wanted to buy Nokia, at the end they had the money to buy only one employee from Nokia.
29. Bernoulli (Posts: 2421; Member since: 01 Sep 2012)
At least they are better build than sammys cheap plastics
35. Carlitos (Posts: 410; Member since: 23 Oct 2011)
I wont say Nokia phones are pure crap. They are solid entry devices. But they use the same plastic when it comes to build materials as Samsung.
41. MartianMe (unregistered)
You only think that because they're running on windows... you have to remember that android os is so powerful so it needs higher specs from oem's like more ram,cores with faster speed etc.so if nokia would make an android fone ,,,which they should!!. they would have to step up-to-date and the could do it by the way..
49. dre786 (Posts: 46; Member since: 10 Nov 2012)
yeah minus the xxx samsung gs series is pure crap same thing goes for iphone too
just dont hate on a good complete phone sound like you scared it may catch on
53. max9777 (Posts: 77; Member since: 11 Dec 2011)
I beg to differ, I am not a big windows fan, but when I played around with the 928, it was an amazing phone, no lag, very responsive! design was a little off, but I can't blame them, they do not want to be sued by apple or anyone else, for infringing on design or some other crap!
54. Trex95 (Posts: 689; Member since: 03 Mar 2013)
It seems that you forget Microsoft! Bell gates alone he can buy the whole Samsung group Lol.
2. ryq24 (Posts: 604; Member since: 17 Oct 2011)
If nokia sell their mobile business then what is left of nokia? Back to making paper?
8. Nematc (Posts: 28; Member since: 02 Feb 2012)
No they will continue with luna bluetooths and monster headsets, Happy?
31. FISTFLY (Posts: 27; Member since: 03 Jul 2013)
My Nokia 101 then will be rare , the sell price will be as high as antiques
4. ryq24 (Posts: 604; Member since: 17 Oct 2011)
If nokia sell their handset business then what is left of nokia? Back to making paper?
7. Nematc (Posts: 28; Member since: 02 Feb 2012)
No they will continue with luna bluetooths and monster headsets, Happy?
5. SIGPRO (Posts: 794; Member since: 03 Oct 2012)
I hope Nokia will not sell its mobile devision, man i dont want a phone running Android os!
14. SIGPRO (Posts: 794; Member since: 03 Oct 2012)
I use a N9, have also 3 droid devices and after these 3 droid devices i will never buy a droid device again! Android is ot the os for me, to slow and laggy with a lot of issues!
Even WP performs better than Android.
28. TROLL (banned) (Posts: 4851; Member since: 13 Apr 2012)
Jellybean is on par with Wp8 along iOS!
Even iOS is much better than Wp8.
I'm stuck here using the "Bing useless" search engine.
I every time have to rely and use "Zune" "GOD That really sucks" all the major apps are available on iOS and Android.
I'm using the L920, whenever I have to search for something I have to go right back which is a pain staking.
The only great thing about this phone is taking great photos
34. the_best (Posts: 139; Member since: 14 Oct 2012)
you can switch to googles searchengine in WP if you want.
13. boosook (Posts: 1276; Member since: 19 Nov 2012)
You won't, because Nokia will sell its mobile division for sure, but to Microsoft. They cannot survive without producing an Android phone, but they'll never make one because of Microsoft's influence on Nokia. So the logical consequence can be only one: Nokia will sell the mobile division to Microsoft, that's what we knew from the beginning.
36. MartianMe (unregistered)
And that will be the end of a great empire .... so sad :(
27. TROLL (banned) (Posts: 4851; Member since: 13 Apr 2012)
Google and Android does not need that cave old age always using a year old specs on there phone company.
Looks like no one wants to buy Nokia except for the patents it hold companies would love to.
9. techspace (Posts: 930; Member since: 03 Sep 2012)
if the sales aren't satisfactory, they should make android devices as well, because that is the only option they have
they can also port their exclusive wp apps to android
there are many people who love nokia and pureview...
12. ardavan (Posts: 6; Member since: 03 Jul 2013)
"Nokia's cash position has dropped from 4 billion euros to somewhere in the range of 2 to 2.5 billion euros, and that was before Nokia announced that it was planning to spend 1.7 billion to buy out Siemens"
Ehmm..no. Didn't you even read your sources?
Reuters: "Nokia put its net cash position at 3.7-4.2 billion euros at the end of the second quarter, and said that if the NSN deal had closed in the second quarter, the cash position would have been 2.0-2.5 billion euros."
It clearly says that net cash is 3.7-4.2 billion EUR and would be 2.0-2.5 HAD the NSN deal closed in the second quarter. Correct your article.
16. CardiWPfan (Posts: 129; Member since: 12 Sep 2012)
Thank you, thank you for summing that up perfectly!!
15. jackhammeR (Posts: 1548; Member since: 17 Oct 2011)
as usual PA spreads some stupid rumors and the author of this crapticle doesn´t even know what he´s writing about. Is it so hard to read with understanding?
17. jedpatrickdatu (Posts: 163; Member since: 24 Jan 2013)
By "handset business" does this mean Nokia's low-end phone business? Or will the Lumia business be sold too?
19. KINGJUAN27 (Posts: 204; Member since: 02 Jul 2012)
Get your facts straight Michael H! IDK if your articles are BS, biased or you're just plain stupid. Pfft!
33. FISTFLY (Posts: 27; Member since: 03 Jul 2013)
So this is not true? Can you confirm something?
37. MartianMe (unregistered)
he's all of those things...
21. Stoli89 (Posts: 333; Member since: 28 Jun 2010)
...or...someone on Wall Street benefits from this story by trying to avoid an iminent short squezze.
Do you really think the BoD of Nokia would approve the purchase of 49% of NSN without looking at the underlying cashflow to finance this approach? If cash is so limited, do you really think the BoD would approve of this plan without having a buyer for the other business already in hand. If it did, don't you think it would be material to legally disclose this fact beforehand to the investors?
The other "story" could be that Nokia's cashflow is actually improving and PROJECTED to continue to improve. That management is confident in these projections and willing to use a portion of exisiting reserves to take full ownership of a business that is cashflow ACCRETIVE!
On top of this, Nokia is already carrying the overhead of NSN (all employees, etc) as the controlling 51% entity. Clearly, the advantages of a full consolidation must also be considered.
Lastly, what if a Private Equity firm or consortium of firms are willing to purchase full ownership after NSN's consolidation under Nokia. The previous 49% sale wasn't going to help a PE firms approach...but now that Nokia will have 100%...maybe...just maybe...Nokia already has an offer at a very nice return for its efforts.
IMHO, the story your floating is for benefit of the short community.
42. UrbanPhantom (Posts: 949; Member since: 30 Oct 2012)
The story is likely to be false, and was put out by those who are shorting Nokia, the likes of which have been caught off guard by Nokia's talks with Microsoft and also their NSN consolidation purchase. They are looking to avoid being smashed before Q2 results are released on July 18th, and spreading myth about cash burn is designed to help them to buy extra time to exit their short positions...
23. Shrihari (Posts: 80; Member since: 29 Jan 2013)
nokia before closing yourself please make one try with android....
44. b1acktiger (Posts: 218; Member since: 19 May 2012)
Existence of Nokia is a need for the users to keep the smartphone market hot and competition among could benefit the users and more innovation. Duopoly of Apple and Samsung is hurting now.
51. xtremesv (Posts: 267; Member since: 21 Oct 2011)
Nokia, once a smartphone titan, punished for its lack of innovation and killed off by Microsoft.
52. Edmund (Posts: 656; Member since: 13 Jul 2012)
As they've already stated, it will fund the acquisition with a bridge loan, probably from the sale of Convertible Notes.
Siemens is a future cash-cow that could prove to be extremely profitable for Nokia. Its potential growth is seemingly limitless, particularly when you think about the fact that countries like the USA, among others, are still reliant on an ageing DSL network. To this end, high-speed broadband (in the true sense of fiber-to-the-home) is the next logical step toward achieving the Holy Grail of multifarious communication - convergence.
Let's also not forget who their major partner is - Microsoft - and If you think they don't have $1.7 billion to spend on a few convertible notes, then sadly you're even more dellusional than these so called "expert analysts".
55. 7thspaceman (Posts: 1351; Member since: 14 Feb 2011)
Folks there could be some truth in this because maybe the main reason Microsoft may have backed out of the deal to buy Nokia not long ago was Nokia was tied up with Siemens. Siemens may have priced their share Of Nokia so high that Microsoft walked out the deal plus the fact Microsoft did not want to deal with Siemens. Now that Nokia is free now Microsoft can seal the deal and buy Nokia and I hope that Microsoft does Buy Nokia because Microsoft has no guarantee that it's other OEM partners will continue to make Windows 8 smart phones because they do not sell as well as Apple Iphones or Android smart phones