Nokia is known as, and is undoubtedly, the world’s leading provider of mobile phones. With the exception of a recession-related dip in sales in early 2009, Nokia has shipped no fewer than 100 million phones per quarter in the past five years. However, in the past year, specifically the third and fourth quarter of 2011, the company’s handset sales slumped. In the third quarter of 2011, mobile phone sales dipped from 110.4 million to 106.6 million mobile devices. According to Tero Kuittinen, who is an analyst at the Greenwich, Connecticut-based MKM Partners, this shrinkage means that Nokia may begin to use part of its $9 billion (6.4 billion Euros) in liquid assets and net cash as the company seeks to revive its relatively unprofitable Nokia Siemens Networks venture.

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