Despite Big loss, Nokia still hold more cash than feared

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Even thought the Giant mobile maker has had successive loss following the decline in smart phone market dominated by the iphone and sumsung galaxy models, the company is not burning through its cash as quickly as feared.


At the end of the second quarter besides a 1.53 billion euros loss, Nokia said it had net cash of 4.2 billion euros ($5.2 billion), compared with a market estimate of 3.7 billion euros. the shares rose by 18 percent though.

This gives the company a chance to improve its Nokia Lumia (as stated that a new software will be out soon) and increase sales in the third quarter. During the second quarter, the company put more effort on improving its finances where cutting jobs were some measures taken. Currently, Nokia is investing heavily on research and development on areas it hopes will earn them a payback.

For now, Apple with their iphone 4s and sumsung galaxy continue to dominate the market with apple looking forward to sell 30 million iphones and sumsung optimistic to sale 50 million sumsung galaxy models.

Howerver, Nokia is not all gone, it has a chance to turn things around and improve sales from 4 million Lumia phones sold so far to higher number.