Nokia: Optimistic Despite Slump

Nokia may be the world’s largest cell phone manufacturer, but they’ve recently reported the smallest quarterly profit since 1996 – over ten years ago and when the cell phone industry was still gaining steam. Despite the slump, the company is optimistic about their future and believes that the worst may be over.
CEO Olli-Pekka Kallasvuo says that retailers have kept smaller inventories on hand, which means that there will be a stronger demand in the coming months. The Finnish company saw their sales fall by 27% from January to March, but in many places, cell phone sales in general were down …read more