Nokia shares hit a fresh 16 year low last week moving below €1.50 (down 63% in the last year) on news that it was continuing to lose share of the smartphone market in the United States and also cutting the price of its flagship Lumia 900 phone from $99 to $49. An act of desperation perhaps? Nokia’s market cap has now fallen to €5.6 billion euros, compared with cash of €4-5 billion, but it is burning money at an alarming rate leading to it being downgraded to junk status last month. CEO Stephen Elop has plenty to worry about!
Research in Motion, maker of the Blackberry, is now trading close to its 52 week low at $7.35. It was trading in the $90 range as little as three years ago.
The Nielsen market share data shows that Apple and Android phones (HTC/Samsung) continue to dominate the market and that Blackberry is losing share to Android.
Contrarian Investor UK