[jagjit]

This downgrade is just based on Nokia's current performance which is going to continue to be bad for a couple of quarters.

But their balance sheet is solid and looks like the Nokia Lumia 900 phones are getting very good reviews and selling well: http://www.amazon.com/Best-Sellers-Cell-Phones-Accessories-S...

I played with my wife's lumia 710 and it beats iphone in ease of use. If these phones sell well, which they seem to be doing, developers and apps will come too.

[gjulianm]

Totally agree. Way too much people thinks changes happen instantly. Nokia did not adapt to the iPhone-Android boom, and it's paying it now. Any movement they do now will be reflected in performance in the next quarters, as that lack of adaptation is reflecting now in their performance.

I think Nokia will improve significantly in terms of revenue. The new Lumias are pretty good and are selling really well. Also, don't forget that behind this stands Microsoft, which still has an enormous dominance in the enterprise business, and who could push Windows Phone as the perfect complement for all the enterprise software it is already selling (Office, Outlook, Exchange, Lync, Windows, Windows Server...)

[alsocasey]

I have a 710 and for 250$ (in Canada, off contract) it's an outstanding performer.