7:34 PM
Jalal HB
Nokia just blew its first quarter earnings, in part because sales of its new iPhone-killer, the Lumia, have been "mixed." (Read our Lumia review here.)
That's bad - But here's what's worse.
The company is burning cash at a mind-boggling rate, and it's about to run into a cash crunch.
Nokia still has €4.9 billion of "net cash" on its balance sheet (cash less debt) and €9.8 billion of total cash. That's a lot. But in the past year, Nokia has gone from comfortably making money to losing a lot of it.
Read more: Business Insider
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