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  • Nokia Is Now Fully Valued [View article]
    Good job Paulo.
    Sep 19, 2013. 02:54 PM | Likes Like |Link to Comment
  • What Should Nokia Do Now? [View article]
    NSN dream will end beg of 2014

    IPR fees collected by have been decreasing fast in past years for NOK according to the financials

    Samsung is a technological company with different solutions for phones than NOK, it is very unlikely that Nokia collect dramatic fees for each Android sold
    Sep 18, 2013. 10:51 AM | Likes Like |Link to Comment
  • Nokia: A Growing Value Play [View article]
    @ diablogun, dwdallam:

    In the short-term, NOK share will head to $7 and correct towards $5.6 if we look at technicals

    There is always a difference between market value and fundamental value, but they also always converge to some extent ;-)
    Sep 14, 2013. 12:58 PM | Likes Like |Link to Comment
  • How To Make Money On $NOK - Week 8 [Starting 18.2] [View instapost]
    Follow-up:

    Open 19.2: $3.96
    low 21.2: $3.68

    Forecast was correct
    Sep 14, 2013. 12:45 PM | Likes Like |Link to Comment
  • Nokia: A Growing Value Play [View article]
    No, the liquid assets are included in the net cash; part of it is under NSN, the rest will go to MSFT

    This cannot explain the $3bn difference you state, so your valuation is $3bn too much

    On patents, the cash flow is fading very quickly, so you cannot calculate $0.65bn for 10y, this is mistake. The impact is at least $2bn here

    So Nokia valuation is closer to $20bn-$5bn~$15bn

    meaning a share price of $4
    Sep 11, 2013. 02:52 AM | 1 Like Like |Link to Comment
  • Nokia: A Growing Value Play [View article]
    $10bn cash? this is impossible. How do you explain the difference with $7.2bn received from the deal?

    And patents are not worth $4bn.
    Sep 10, 2013. 11:07 AM | 1 Like Like |Link to Comment
  • Nokia: A Growing Value Play [View article]
    @Matthew:

    So according to you, HERE is valued at $8.3bn?

    This figure comes from:
    - market cap $20bn
    - NSN: $4.5bn
    - Cash from D&S sale: $7.2bn

    Isn't that a BIT much ? :D
    Sep 10, 2013. 08:25 AM | 1 Like Like |Link to Comment
  • Partial Transcript Of Nokia's Press Conference, September 3rd 2013 [View instapost]
    Great work Seppo, as usual. Thanks!
    Sep 9, 2013. 08:28 AM | 1 Like Like |Link to Comment
  • The Nokia Shorts Were Right All Along, And Fatally Wrong At The Same Time [View article]
    @Redrut:

    ALU and NSN are not competing on the same segments, so you can hardly compare their valuation

    NSN is all-in in LTE
    Sep 9, 2013. 08:21 AM | 1 Like Like |Link to Comment
  • The Nokia Shorts Were Right All Along, And Fatally Wrong At The Same Time [View article]
    @solucky:

    even if you REALLY need a buyer, you do not sell at EUR 1.7bn something that is worth EUR 3.5-4bn.

    Your value estimate for NSN is way too high
    Sep 9, 2013. 07:51 AM | Likes Like |Link to Comment
  • Nokia Won't Buy Alcatel [View article]
    A discount of more than 50% offered by Siemens?

    I do not think it is correct.

    NSN has a low value due to shrinking sales trend
    Sep 9, 2013. 06:50 AM | Likes Like |Link to Comment
  • The Nokia Shorts Were Right All Along, And Fatally Wrong At The Same Time [View article]
    NSN is valued at EUR 3.4bn based on the price paid by NOK for the 50% of Siemens (EUR 1.7bn).

    How do you come up with a EUR 6-8bn value?
    Sep 9, 2013. 06:47 AM | Likes Like |Link to Comment
  • Nokia's Cash Position Explained [View article]
    The relevant (current) part of provisions were included in my "payables", which is obviously not the case in your calculation.

    Mixing 2012 and 2013 figures is pretty much of an amateur mistake, Redrut, we thought you were worth more than that.

    You should correct your article.
    Sep 9, 2013. 06:45 AM | Likes Like |Link to Comment
  • The Nokia Shorts Were Right All Along, And Fatally Wrong At The Same Time [View article]
    it's reborn with Jolla
    Sep 8, 2013. 02:33 PM | Likes Like |Link to Comment
  • Nokia Won't Buy Alcatel [View article]
    Alcatel is under strong restructuring, it will be a decent target in a while - but not now.
    Sep 8, 2013. 02:32 PM | Likes Like |Link to Comment
COMMENTS STATS
378 Comments
144 Likes