Sorry LT. The news I've read on NOK's report looks brutal. I doubt there will be anything more optimistic at next quarters report either. Do you see anything positive in there to warrant buying around $5, or do you think there's likely no positive momentum for a while? We've all been there. My current sinking rock is CMG, sigh.

I'd be appreciative of any analysis of the future, given this stunning move downward. Never had a day's decline anywhere near resembling this on a stock, much less a portfolio. I'm pissed with myself for not paying better attention and selling into earnings - by the time that seemed like an obvious train barreling down the tracks, the market was closed. I did watch around 1am ET when the announcement came and saw that the miss wasn't pretty in the least but a blow-off of this magnitude? 

I can't see the silver lining, but I hope I'm myopic  - I'd think the only way Suri can get street cred it to product profitability. Can't see any reason to take him at his word - and in truth, he's saying it'll probably be about 2 years until 5g ramps - but then again, capex spending has been awfully elusive, and way behind predictions. I suppose one could make the argument that it's an INTC-like situation - a pretty dividend to collect until the company macro gets less ugly. It's only my guess, but I don't see why dividend-cutting wouldn't be on the table. 

Re safety of the dividend, I believe that it is safe for the next year.  I would keep an eye on the cash performance.  Currently, liquid cash stands at $3.132B. This quarter cash levels were impacted by by late receivables, several hundred million. These will raise the level when collected.  The LG patent settlement of E180M has yet to be paid and I would guess more cash infusion will happen when Opo, Huawei settle the patent disputes. That should be several hundred million euros.  All in all cash levels should rise to around $3.8B eventually.  Caveat: Remaining Cash restructuring charges will have an effect on this, I do not have a clear handle on this.

Yeah the news was shoking to say the least.  I do see a ton of potential, but given these news the horizon has moved out beyond 2018, probably as late as 2020.   The problem is that Management has lots a lot of credibility, so how can we believe Suri when he says that he sees the 5G market starting to ramp up in early 2019?

The increase in dividend to E0.19/$0.22 increases the yield for those buying now to a very appealing 4.4%.  Other than that, the reality is lower for longer. That said, when 5G truly starts to be deployed, the stock should reach $13, as I believe Nokia's overall sales can reach $34B to $35 sometime in 2022.  

lt cap,

Indeed - it's the bane of fallen companies - can't lowball estimates or you'll get punished further for a poor(er) outlook. Can't highball them, as you'll lose further credibility. I guess the only thing one can hope for is that the CEO does have an accurate handle on future prospects.

I'm curious/concerned about this: Tech doesn't stay static. If we're talking about 2 or more years before capex spending becomes less dismal as 5g really is introduced, is it possible that the players with the best technology may change entirely, as R and D brings new products online to sell? Or are development timelines so long that one can assume that NOK would have nearly the same technology chops and leads that it has today when the time comes that spending finally increases? I am reminded of a part of INFN's offerings becoming instantly obsolete by the software implementation that replaced one of their lines of hardware. Or that (if I've got it right) INTC's and Micron's announcement of Optane memory, which will radically shift the solid state memory market, wasn't announced until it was almost ready for market.

Speaking of which - Here's the first review I've seen of their consumer version of Optane, labeling it as the fastest SSD device Tom's Hardware ever tested, altho it is pricey, altho they chalk that up to 'high demand':   tomshardware.com/re...cation

From what I've read, it seems that Optane will be the successor to NAND/flash, as it is stunningly faster. How much of INTC's business it will account for, I don't know. But they and Micron are the sole owners of this thing, and if they're not the sole vendors, then I'd think the need to 'bend the knee' and pay handsome licensing fees if others want to produce this next-gen memory should be a nice stream of revenue for a long time. Good to be king.