As technology moves from one generation to the next, the old champions are frequently left behind with only fading memories of former glories. That has certainly proved to be the case with Nokia (NYSE:NOK), as this one-time growth champion has become a lagging dotard in the cellphone market that it still, somehow, leads. With new management and a new operating philosophy in place, including a far-reaching partnership with Microsoft (Nasdaq:MSFT), it is time to reconsider the investment case for Nokia.
The Problems Have Been Many
Although much is made of Apple (Nasdaq:AAPL), burying Nokia under the avalanche prompted by the iPhone, the fact is that Nokia was struggling long before that. Consider any recent innovation (going back to the clamshell design), and Nokia was almost always one of the last to be on board and usually not a good representation of the breed. In fact, Nokia couldn't even stay ahead of the likes of Research In Motion (Nasdaq:RIMM) or Palm as the cell phone world changed.
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