Nokia Lays Off Due to Apple Success

Rich Tehrani : Communications and Technology Blog - Tehrani.com
Rich Tehrani
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Nokia Lays Off Due to Apple Success

7,000 people will be laid off by Nokia because of loss of market share to Apple. How bad is the situation? Well, a five-year chart of Stock performance of Apple and Nokia shows Apple up 400% and Nokia down about 59% during the same period. Of course Apple sells more than iPhones but we know this device is bringing more buyers into its stores with open minds and open wallets.

Will the new Microsoft deal turn things around for the beleaguered cell phone maker forced to cling to non-smart-phone sales as a differentiator? Time will tell but it will take a Herculean effort to turn the tide as you can see from the trends below. Click to enlarge.

apple-nokia-5-year-chart.png

Disclosure - I have investment which benefits from Apple's share price increasing.

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