Nokia’s Stocks Come Down On a 16 Year Low
Nokia’s stocks have taken a fall yet again. In a sixteen year low now, Nokia’s stocks don’t seem to be picking up anytime soon. Reports claim that the faltering sales of the Lumia 900 is to be blamed, though it’s still early days for the smartphone. It is believed that the smartphone had some technical glitches which led to the poor sales. This fall in stock prices has also made its place in the company’s first quarter earning’s report. Nokia has issued a warning to its stockholders to be on guard about the future.
Speaking about the problem on the device, it seems like users cannot connect to the internet. This is a major flaw on a flagship device given that its major selling point is LTE. Nokia has promised a fix by April 16th so users are still hanging in a balance till then. So what does this mean for Nokia? Only time will tell, but if these glitches aren’t dealt with at the earliest, all those loyal Nokia customers could lose hope. AT&T is offering the device for $100 to lure new buyers and existing customers are getting it for a better bargain, so it isn’t that bad a deal.
The Lumia series is still slowly picking up in Asian and African markets where Nokia generally has a strong hold. So maybe focusing more on the low end segment would help Nokia’s cause a little.
Gartner’s industry analyst, Roberta Cozza said – “We’re seeing that many consumers on emerging markets are shifting towards low-end true smartphones, rather than feature phones, and Nokia doesn’t have much to offer in this space.”
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