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 Siemens, ( SI), 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 BlackBerry ( BBRY), 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.
Richard Saintvilus is a co-founder of StockSaints.com where he serves as CEO and editor-in-chief. After 20 years in the IT industry, including 5 years as a high school computer teacher, Saintvilus decided his second act would be as a stock analyst - bringing logic from an investor's point of view. His goal is to remove the complicated aspect of investing and present it to readers in a way that makes sense.

His background in engineering has provided him with strong analytical skills. That, along with 15 years of trading and investing, has given him the tools needed to assess equities and appraise value. Richard is a Warren Buffett disciple who bases investment decisions on the quality of a company's management, growth aspects, return on equity, and price-to-earnings ratio.

His work has been featured on CNBC, Yahoo! Finance, MSN Money, Forbes, Motley Fool and numerous other outlets.

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