There's been a fair amount of credibility given to the idea of buying Nokia (NYSE:NOK) on the cheap to bet on the introduction of Windows 8 and the turn around of once dominant Nokia. This looks like a poor investment to me.
Even if W8 succeeds in the mobile market (a big if), the business of licensing Microsoft (NASDAQ:MSFT) OS's is a race to the bottom. The competition among manufacturers is brutal, with very few paths for product differentiation other than price. I see no competitive advantage for Nokia over Asian competitors. My best case for Nokia is simple survival, which could be in doubt even with perfect execution.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.