Hasta La Gadget!

Things are bad all over, these days–something the technology industry knows all too well. Take, for example, Nokia. The Finnish phone manufacturing giant is reporting huge loses in its latest financial report. The Q1 report details a 90-percent profit drop. Profits were for the quarter ending March 31st were at 122 million euros–that’s down from 1.22 billion euros the year before. And from expected earnings of 306 million euros.

Still, despite such astonishing loses, the company’s shares were up 9 percent. The company is apparently assumed to have hit bottom, meaning that we’ve already seen the worst for both Nokia and the industry at large–all this despite the fact that Nokia says it expects the industry to shrink further.