Total 970 bn € it requires that Nokia has managed to turn the ship and started making reel money. And that reel money can not come Q4-13, it must come now, including cost of restruction.
Also notice that Nokia has to deal with taxproblem that have arrised in India only two days ago: Local tax authority in India claims that Nokia might have to pay 411 billion € in taxes. Should we take 970-411 billion € and assume that Nokia needs to maintain the current level of cash missing 691 billion € to the debt in feb 2014. Bad visability was a very common Word during the Conference call yesterdag.
Within thoose 4.4 Lumia phones that were sold during q4 Nokia did probably sell a lot of the old L900, L800, that went on sale before new Lumia arrived during q4.
My guess, it might be to high, is that the new Lumia only sold 1.5 million units within q4. The other 2.9 million was old L900 och L800 that went on sale during the same quarter.
I could not have imagined a worse introduction of new Lumia. It has never been a supplie-question though black and white Lumia 920 has been avalible in almost every AT&T store since introduction, never sold out. Yellow still hasn´t come in store since introduction - not kiddning.
NOT A WORD ABOUT THE BALANCE-SHEET WAS TOLD DURING CONFERENCE CALL and the margins is witout restruction COSTs...