| | | infrastructure business with positive cashflow, health IP portfolio, map business which has been written off from the book.
The phone biz was once #1 in the world, and the Nokia brand is basically the phone biz. So they just sold that off. Of whats left, I don't know much but:
1) NSN was bleeding money until recently. Siemans wanted out after all. So its profitable now, but what sort of market position does it have, and why is it well positioned, as one of many infrastructure players going forward?
2) IP portfolio: I suspect that was largely a legacy of the handset side, and since they have sold that division, its now a declining biz (they aren't going to replenish the patent supply, and they have a shelf life). Further, I'd guess quite a few of those patents are pretty old already.
3) The map biz is what, #3 or worse? MS will no doubt try to help make that grow, but Google and Apple aren't going to sit back, and it will be a long time before MS's mobile share approaches Apples, let along Android. So NOK maps is going to stay #3 or worse for some time.
4) The cash. That can be wasted pretty easily.... |
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