By Adhurim Murtezai
Nokia doesn’t need any more bad press, but now Reuters and BusinessWeek have been spreading the news from more than a few financial analysts and venture capitalists that Nokia’s troubles are far from over.
UBS stated that Nokia would have “to significantly discount its new Microsoft Lumia products, including the Nokia Lumia 900, Nokia Lumia 800 and the Nokia Lumia 710 in order… to gain any traction with retailers, operators and consumers.”
Janardan Menon with Liberum Capital said that Nokia had, ”too much baggage in terms of cost structure and legacy operating systems” to be attractive to most buyers.
Charlie Wolf, an analyst at Needham & Company painted the worst picture. He said “if Nokia doesn’t come out of its funk within a year, Nokia is going to be finished.”
Microsoft has been the only company talked about as a serious potential buyer.
Nokia has been lowering its projections. Most recently they cut earnings expectations and announced layoffs of 10,000 employees by the end of 2013.