Nokia to run out of cash next year
Nokia will run out of cash next year at its present burn-rate, according to Bloomberg.
Nokia had Euros 4.9bn in cash at the end of March. At the end of December it had Euros 5.6bn and, at the end of March 2011 it had Euros 6.4bn..
At its presnt rate of cash burn it will run out of cash at the end of 2013, says Bloomberg.
Nokia has Euros 4.75bn of debt, says Bloomberg.
Nokia attributes the cash burn to operating losses and one-off changes in its working capital requirements.