Nokia (NOK) Message Board

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Technology Stocks : Nokia (NOK)

NOK 6.875

+6.3%

11:56 AM EST

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To: engineer who wrote (28748)	4/21/2012 12:03:34 PM
From: E_K_S	of 34857

Hi engineer - In June 2011, you responded to my note regarding NOK developing their cell phone market in China and your view was that the company (at least from your experience) was hard to deal with and slow to respond to change in technology. Many of your observations were right. We see the outcome of current management's operating philosophy with the stock hitting an all time low this past week. As a value investor, I am once again looking at a possible buy into NOK at current levels because of the "value" I see in one of their "under the radar" company owned assets; their design and cellular phone infrastructure division they own in partnership w/ Siemens. Last time I looked, it was worth around $2.25/share or about 60% of the current price of the stock. Do you have any opinions (being in the business) regarding the value of this business segment and if Siemens might be better off buying NOK's 50% interest in this partnership? Siemens has had good success working in China designing and building next generation Cell systems. My thought is that currently several of the pieces (ie sum of the parts) of NOK might be worth more if sold than the current market price is reflecting. The largest of those assets is their Cell Tower and Design Infrastructure business they operate w/ Siemens. I suppose the 2nd largest asset they own are their intellectual property patents that Microsoft might be interested in. What's your current view specifically regarding the development of next generation cell infrastructure (3G & 4G, WIMAX) and if you think the Siemens/NOK partnership has some relative value? EKS

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