The Nokia of today is a very different, much diminished company compared to what the company was early to mid- 2000s. Although it cannot be regarded as a failure yet, it is certainly a diminished force — smaller, less profitable, with fewer assets, and less resources at its command — including dwindling cash reserves. According to reports, Nokia’s net cash fell to EUR€3.6 billion by the end of Nokia’s third quarter in 2012, down from €4.2 billion in its second quarter. Nokia’s decline is evident in several ways; the company recently lost ownership of its own headquarters, with reports indicating that it agreed to sell and lease back the building to raise €170 million in 2012. Since 2010, job cuts have been a regular occurrence at the company. As at January 2013, Nokia had approximately 45,000 employees in its mobile and location division — down from approximately 61,000 a year earlier. The fall of the company culminated in the acquisition of its devices division by Microsoft for US$7.2 billion — a mere fraction of the estimated $250 billion it was worth in the early 2000s.
tech is future 