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Microsoft Corp (MSFT) Financial News - Nokia Sales Slump May Cut Into $9B Cash Pile

Microsoft Corp (MSFT)

Nokia Sales Slump May Cut Into $9B Cash Pile

Quote: ‘Collapsing’ Microsoft Corp. (MSFT)’s Windows Phone over Android because it offered the chance to help build a new market segment. The handset maker, which consolidates Nokia Siemens in its results, may report a second-quarter net loss of 48 million euros, according to the average of 22 analyst estimates. The loss for the third quarter may reach 192 million euros, the average of 13 estimates. Second-quarter revenue may have fallen 7.3 percent to 9.27 billion euros, while the average selling price dipped 5.7 percent to 57.5 euros, the estimates show. Stockholm who recommends selling Nokia shares. The erosion of Nokia’s cash would be an “alarming trend” for valuation and dividend payments, he said. Windows Phones overtook Symbian in the first quarter as the most popular mobile-phone software. The first Nokia handsets with the Microsoft system are scheduled for the fourth quarter. Apple Inc. (AAPL)’s iPhone and Google handsets, and spun off non-core units. Cupertino, California-based Apple said yesterday its third- quarter profit more than doubled to $7.31 billion, topping estimates, lifted by record sales of iPhones and iPad tablets. Last Symbian Phones Nokia last month announced the N9, a high-end handset that will be the last device in the Linux-based product line the company has developed alongside Symbian since 2005. The handset, designed by Marko Ahtisaari, the son of former Finnish President and Nobel Peace Prize laureate Martti Ahtisaari, would be a test of hardware and features that will appear in Windows Phones. Nokia continues to introduce new Symbian devices, promising 10 more this year despite a rapid falloff in operator and public enthusiasm. Price cuts are already being reported on the E6 handset, introduced in May. Elop has a goal of selling 150 million more handsets on the last versions of Symbian. “Any possible positive trigger...
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