Nokia’s Big Drop
They started the day off with bad news, and it just hurt. Ouch! Nokia is not looking very happy right now. They reported this morning that they are cutting 10,000 jobs - 20% of their workforce, and closing three research facilities. Then this happened:
It's a bad day for Nokia.
Which leads me to wonder what they'll be doing with NAVTEQ - the mapping company they bought not too long ago. If it's making money for them, then they might bleed it dry. I doubt they'd sell it as it cost them a bundle and they need the cash to stop the hemorrhaging. I hope things stabilize for them. And soon.