Yesterday, Nokia released their second quarter earnings report and I use the term “earnings” loosely here because it wasn’t pretty. Oh no, it was downright ugly. The cell phone giant went from a projected 6+ billion Euro quarter down to zero, zippo, bubkus (or as Nokia put it “break even”).
Nokia appears to be stuck in Purgatory saddled with a large inventory of phones they apparently can’t sell anywhere while waiting for the next generation of Nokia phones running Windows Phone 7.
ZDNet reports that Nokia CEO Stephen Elop said in a conference call that his company was unable to compete against Android phones in China, leaving them oodles of unsold inventory. Nokia’s getting slammed by Android in Europe too. Elop must wondering why he left his comfortable position at Microsoft to take over a train wreck.
Read on…
[Hmm...Any body in bed with Microsoft, suffers the same fate....]
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