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Nokia Share Price Takes A Hell Of A Nosedive, Down 14%

February 11th, 2011 02:08 admin Leave a comment Go to comments

How long can Nokia‘s share price go?

It was to be expected, but that doesn’t make it any less newsworthy: Nokia is really taking a beating right now.

Stock price was down about 14% last I looked, but it has been hovering around a 13.5% drop in the past few hours.

In case you hadn’t heard, Nokia this morning announced a major strategy shift, switching to Microsoft’s Windows Phone as its primary smartphone platform, shaking up the management team and pushing through other organizational changes.

For what it’s worth: Nokia CFO Timo Ihamuotila posits that the company should get a long-term financial boost from the strategic partnership with Microsoft.

Source: Nokia Share Price Takes A Hell Of A Nosedive, Down 14%

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