RIP, Nokia

Farhad Manjoo for PandoDaily,

Now, for the second time this year, Nokia has reduced its earnings guidance, citing “competitive industry dynamics.” That’s code for, We’re getting whipped. The company announced that it is laying of 10,000 employees across the globe, shutting down factories, and divesting itself of Vertu, its luxury mobile phone business. That firm garishly outfitted Nokia’s devices in diamonds and pearls and then sold them at a high-markup. Nowadays, however you tart them up, people just don’t want Nokia’s phones anymore.

The Windows Phone ecosystem is not maturing fast enough & Nokia is feeling the heat. Microsoft is paying the top developers to port their apps over to Windows Phone but devs are waiting for customers to adopt the platform(classic chicken-egg scenario) & also see what Microsoft has in-store for Windows Phone 8. June 20th is the Windows Phone summit, Nokia’s final lifeline. Either they release a killer device shipping as early as possible across the world at reasonable price points or as Farhad says its Goodbye Nokia.