Nokia (NOK +6.1%) gives back some of its premarket gains as the Street digests its mixed Q2 data. Nokia's pre-subsidy Lumia ASP fell 15% Q/Q to €186 ($227), as it cuts prices to stoke demand. North American Lumia shipments only totaled 600K, in spite of AT&T's promotions. MKM remains bearish, asserting Nokia's €4.2B in net cash could be gone in 2 years. Q4/Q1 could be make-or-break time for Nokia, as it rolls out Windows Phone 8 models featuring its PureView camera tech.