In the Financial Times, the Lex column urges caution on the apparent temptation of Nokia. The stock has collapsed 92pc in the last five years, hammered by the emergence of Apple’s iPhone. In the last month though the stock has recovered somewhat, buoyed by Apple’s victory in a US patent case against Samsung. Nokia doesn’t appear to face the same pressure on its operating system as its competitors because it doesn’t look or feel like iOS. On the other hand its latest offering, the Lumia, is considered make or break. If Nokia can break into the all important smartphone space then its stock looks undervalued (trading at just 0.2 times sales). The advice is to hold off until those sales figures are in.

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