The global financial meltdown has hit really bad many companies and it seems even major cell phone manufacturers are bleeding. Nokia
is hard hit as well and has been cutting out the deadwood to trim down on expenses and make it through the bad patch. There is a glimmer of hope in the Q3 results that the Finnish giant has just posted, because they show 5% growth in sales of devices and services compared to the figure in Q2 2009. However, saying things are looking worrying, to put it mildly, would be a gross understatement. Year on year net sales are down with the stunning 19.8%, while operating profit slumped the mind-blowing 57.8% on the same period. Perhaps it´s about time new entrants took over the board room.
The manufacturer announced several new models at Nokia World 2009
that took place last month. Still, moving back in the black may prove to be much harder than the release of a new cell phone bestseller, not that this would not be a step in the right direction. Is it likely that handsets like the N97 mini, X6 and Booklet 3G bring Nokia back to life? Only time will tell, although we doubt that several brand-new cell phones are going to cut it in these troubled times.