Click to Skip Ad
Closing in...
  1. Best Smartphone Accessories Under 20
    08:06 Deals

    5 must-have smartphone accessories that cost under $20 each at Amazon

  2. Amazon Deals
    09:51 Deals

    Today’s best deals: Alexa in your car for $19.99, surprise Fire TV Stick 4K sale, $6…

  3. Instant Pot Accessories Amazon
    08:41 Deals

    This $27 Instant Pot accessory kit on Amazon will take your Instant Pot to the next level

  4. MacBook Pro 2021 Price
    16:34 Deals

    Amazon slashed $200 off Apple’s M1 MacBook Pro, or get a MacBook Air for $899

  5. Best Deals on Amazon
    07:02 Deals

    Best Deals on Amazon (July 2021)

Moody's cuts Nokia credit rating, points to 'weakened market position'

Zach Epstein
April 8th, 2011 at 10:01 PM

Following a rating review initiated on January 28th, Moody’s on Thursday lowered Nokia’s senior debt rating from A2 to A3 and cut its short-term debt ratings from Prime-1 to Prime-2 with a negative outlook. Moody’s cites Nokia’s weakened position in the cell phone market and uncertainty surrounding the company’s upcoming transition to Microsoft’s Windows Phone platform as the reasoning behind the downgrades. “The rating downgrade primarily reflects Nokia’s weakened market position in its core business, mobile devices, which has reduced the company’s margins and funds from operations,” said Moody’s SVP and lead Nokia analyst Wolfgang Draack in a note. “In Moody’s view, the main reasons for this trend are: (i) an inflexible smartphone operating system; (ii) slow time-to-market for new models; (iii) more attractive innovation by smartphone competitors; and (iv) accelerating price competition for low-end phones.” The move follows Standard & Poor’s decision to downgrade Nokia’s credit rating last month, when it said it expects Nokia’s market share to continue to slide through this year and in 2012.

Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

Popular News