The former industrial conglomerate now turned communication technology company Nokia (NYSE: NOK ) has suspended its dividend. While shares were down initially on the news as Nokia's earnings report was released, investors have to remember that shares popped earlier this month when we got a sneak peek at what would be in that earnings report. This pullback still leaves shares up for the month. In this video, Motley Fool tech and telecom analyst Eric Bleeker tells us why he supports Nokia's decision to suspend its dividend as it focuses on reinventing itself in the increasingly competitive smartphone landscape.
Nokia's been struggling in a world of Apple and Android smartphone dominance. However, the company has banked its future on its next generation of Windows smartphones. Motley Fool analyst Charly Travers has created a new premium report that digs into both the opportunities and risks facing Nokia to help investors decide if the company is a buy or sell. To get started, simply click here now.