After months of steady losses and fading market value, and despite repeated downgrading by analysts, it seems Nokiaâ€™s share holders is having a bit of a reprieve, with the share price up more than 50% since its 18 year low of $1.69 on the 17th July to $2.64 and rising.
The effect of this rally is that Nokiaâ€™s market cap increased from a low of $6.3 billion to $9.8 billion, which is a number which should help deter would-be hostile take overs.
The run up is in anticipation of the release of new Windows Phone 8 handsets, and if Nokia impresses the share price may rise further, and if not it may of course crash again.
The company still has a long way to go, but getting the share price back over 5 would be a major psychological gain, as this was the recent plateau before the most recent slide started in April.
Of course it seems unlikely the share price will reach $11 by the end of the year, which under Stephen Elopâ€™s remuneration package would have allowed him an extra bonus of 750,000 shares.
Do our readers think Nokia will be able to regain its former glory? Let us know below.