Analysts: Nokia On Track To Burn Through Its Whole $6B Cash Pile In Next 2 Years

The Facebook IPO is expected to usher in a day of massive trading volumes on the markets, and some believe that might translate to a lift for some tech stocks. But one that could really use some help has just been served another course of bad press: Nokia is apparently burning through its cash reserves -- fast. The company, for years the biggest mobile phone maker in the world, has fallen on very tough times, as competition from companies like Samsung, Apple and a barrage of inexpensive device makers, have translated into declines in sales, market share and profitability. That's now translating into what has been identified as another issue: the burning of the cash pile.?In the last five quarters, Nokia has burned through ?2.1 billion ($2.7 billion) from its cash reserves. Analysts polled by Reuters on average believe that at the rate Nokia is going, it will go through another ?2 billion ($2.5 billion) in the next three quarters, with the total current cash pile of ?4.9 billion ($6 billion) gone within two years.

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