What's more, the company is no longer strapped for cash and, contrary to what many bears wish to think, with Nokia's handset business now off the books it now has a more attractive business than the Street is willing to accept.
Let's not forget, after
spending $2.22 billion
to buy the remaining portion of its joint venture with
, Nokia now owns 100% of a business that has kept it afloat amid the company's struggle in the phone business.
What this means is Nokia will be able to devote more focus on growing a business that was already doing well. Given the company's new cash infusion, along with what is still a strong brand around the globe, Nokia's entry into the telecom services business should be an easy transition. I don't think Nokia's investors will complain that the company is no longer being pushed around by Apple and Samsung.
There will be those who say Nokia gave up. But it's not the first time this company has transformed itself. Unlike
, which can't shed the "dead man walking" moniker by hanging up the phone, Nokia now has a prosperous future ahead. At around $4 per share, it wouldn't surprise me if the stock reached $6 in the next 12 months on the basis of stronger profitability in the network business.
At the time of publication, the author was long AAPL
This article was written by an independent contributor, separate from TheStreet's regular news coverage.