Nokia has a sales hit on its hands with the Lumia 900, at least in the US and the company has said that demand for the Windows Phone device is still exceeding supply. But will that be enough to save the mobile phone maker? Maybe not, says a new survey via Reuters of 30 financial analysts.
The story states that Nokia has already used up 2.1 billion euros in the past five quarters. On average, the financial analysts believe Nokia could burn through another 2 billion euros in cash in the next three quarters. The most pessimistic of the analysts that were surveyed believe that Nokia could use up all of its current 4.9 billion euros cash reserve amount in 2013.
Even with the Lumia 900"s sales success, some analysts believe it won"t be enough to save Nokia. Nancy Utterback, a credit strategist at Aviva Investors, stated, "Nokia"s Lumia was an attempt to catch up, but it was simply too little too late."
Some analysts believe that if Nokia continues to falter financially, it could get some help from Microsoft. The Lumia smartphone line up is the flagship of the Windows Phone family and Microsoft could step in with some extra money to keep Nokia alive as it seeks to expand the market share for Windows Phone.