Nokia has a current market valuation of $25.54 billion, 9 to 5 Mac (opens in new tab) reports. In comparison, Apple reported revenues of $24.67 billion for the last quarter and has a market valuation of $321.81 billion.
This means that the world’s biggest handset manufacturer has a market value equal to Apple’s quarterly revenue or to put it differently, Skype is more valuable than Nokia’s business.
Given the current market evolution, it appears that Nokia is up the creek without a paddle because Apple and Android are stealing its high-end market share while cheap Chinese handsets are biting into its low-end market share.
Stephen Elop, Nokia’s CEO gave the impression that he has resigned himself to the situation conceding that “Android is gaining strength” and “Apple is Apple, of course”. The Finnish company lost almost four billion Euros in market value last year and investors fear that Windows Phone might not be able to improve Nokia’s market share.
Nokia is still the world’s biggest phone maker, but its sales have been plummeting in recent years. The company had a 38% smartphone market share in Q1 2010 which sank to 24.3% in 2011. To compare, Apple’s smartphone market share went up by 2%, reaching 18.7% in the same time frame.