C-C-C-Changes

Windows Phone OS to drop 'Phone' from name, lose Nokia

More Windows Phone Threshold rumors?

Alcatel could release a Windows Phone tablet

Windows Phone vs BlackBerry

UK Windows Phone users may go above BlackBerry's

Windows Phone News

5.8 million Lumia smartphones sold this last quarter

From the Forums

What made you buy Windows Phone in the first place?

Microsoft News

Microsoft 'betrayed' Finland, says Finnish finance minister of layoffs

Rumors

Microsoft's aiming for flagship Windows Phones, killing Nokia X but selling MixRadio

Apps

New Treasure Tag app update ditches the 'Nokia' brand

Microsoft News

Stephen Elop explains how recent job cuts will affect Microsoft's handset division

Microsoft News

Rumor claims 1,000 former Nokia employees in Finland could be laid off by Microsoft

WPCentral News

Are you buying a new Windows Phone soon or waiting for new hardware?

Microsoft News

Stephen Elop to make keynote address during September's 'Super Mobility Week'

Apps

New Nokia MixRadio update ditches the 'Nokia' brand

Windows Phones

Lumia 930 pre-orders begin in Norway Wednesday for July 10 launch

Windows Phones

Microsoft Store US site pulls pre-order listings for Nokia Lumia 635

Apps

Nokia Imaging SDK 1.2 released, Lumia SensorCore SDK out of private beta

Windows Phones

Nokia Lumia 635 for AT&T and T-Mobile available for pre-order at US Microsoft Store site

General News

Microsoft teases possible launch date of a green Lumia or successor to the X

General News

Microsoft partners with British designer to create wireless charging pants

Microsoft News

Beat Nokia by predicting world cup games in Sporting Mouth to win some awesome prizes

< >
22

Nokia News Roundup – S&P downgrades, Elop says soon for Windows Phone 8

WP Central

Nokia appear to be having one of those days where they can’t get much of break from the financial institutions that help determine their fate. S&P has once again downgraded Nokia who now stand with a BB- rating—effectively making them “junk”.

Such a label is an indication to investors that sinking money into Nokia is speculative or high-risk.  What’s more, S&P indicate that further downgrades could be Nokia’s future should things not turn around quickly.

For their part, Nokia quickly put our a press release noting that

"The impact of Standard & Poor's decision on the company is limited. As we continue our transition, we are applying a strong focus on cash conservation while simultaneously reducing our operating costs and making our operating model stronger and more agile.

We ended the second quarter 2012 with gross and net cash both higher than a year earlier. With gross cash of EUR 9.4 billion and net cash of EUR 4.2 billion, we have a strong financial position and robust liquidity profile. We also have access to additional liquidity via a revolving credit facility of EUR 1.5 billion. This is entirely undrawn, available to us until March 2016, and comes without any financial covenants."

In short, that means austerity and Nokia is doing all they can to slash and burn to make the company lean again.

None of this is too surprising and it remains to see what the long-term impact will be. If anything, it grabs some headlines as “junk status” just sounds terrible but bigger companies have survived a lot worse and we think Nokia still has a big future.

WP Central

As of this writing, Nokia stock is rading up nearly 2% at $2.54 a share, staying well above the $2 mark now for the last 2 weeks.

In other news, Nokia CEO Stephen Elop strongly hinted at upcoming news for their Windows Phone 8 lineup stating that such devices will be released "relatively near term”. That implication is of course for Nokia World in a few weeks where the Finnish company is expected to reveal up to three new Windows Phones featuring the Apollo operating system.

At least two of those devices may have been partially revealed with the ‘Phi’ and an unnamed device spotted yesterday. The ‘Phi’ is thought to be a Lumia 800/900 type device with a 4.65” screen and dual-core processors while the unnamed phone looks to be more of a mid-range device echoing the Lumia 610/710 design.

Source: Nokia, Reuters, AP

0
loading...
0
loading...
20
loading...
0
loading...

Reader comments

Nokia News Roundup – S&P downgrades, Elop says soon for Windows Phone 8

22 Comments

Man, I SO wish I had capital to invest into Nokia right now. The financial rating companies are just making this easy right now.

It's not on AT&T's servers, so no. 

  1. But you can manually update the OS via the cab method
  2. Or use a third party way to flash the OS and firmware
  3. This is why we have forums

Nokia card will make me reinstall all apps:(

And btw, I'm sure more than I have this question burning the front of their minds :P

Maybe a front page model updateability chart/indicator would be useful....

when its flashed just used reintaller and go through the list of apps you wanna install you have to start the download for each one by one but at least you dont have to look for them :D

Also you can go to the windows phone page and my account has your download history, that's what I did as I forgot all about reinstall app

I stopped considering S&P and all other rating companies as they proved to be totally dishonest and care about their speculations only.

I'd love to help Nokia out. I've had my share of Nokia phones. Problem is, Nokia is bound to ATT. That does not do me or them any good. Sure they got the Lumia 710 on Tmo and as a Tmo customer, I'd like to have a hero Nokia phone like everyone else. But no I'm not gonna play run around switching from carrier to carrier wasting time and money just to get that dual core pureview Nokia phone. Sorry, I'll take what super wp8 Tmo gives me if Nokia.

On my advice, a buddy of mine bought Nokia shares during its low and is now up 50% on his investment. I wish I had money to invest too.

I can't wait to see how WP8 does in the market. Here are the sales rankings as of yesterday at bestbuy.com:

AT&T (82 phones offered)
31. Nokia Lumia 900 Black (29. a week ago, 24. a month ago)
39. Samsung Focus Flash (37. a week ago, 34. a month ago)
48. Nokia Lumia 900 Cyan (60. a week ago, 53. a month ago)
52. HTC Titan (68. a week ago, 40. a month ago)
53. Samsung Focus 2 (48. a week ago, 62. a month ago)
54. Nokia Lumia 900 White (59. a week ago, 48. a month ago)
70. Samsung Focus S (69. a week ago, 55. a month ago)
76. HTC HD7S (76. a week ago, 75. a month ago)
HTC Titan II is not offered
Nokia Lumia 900 Pink is not offered

T-Mobile (32 phones offered)
18. Nokia Lumia 710 White (9. a week ago, 20. a month ago)
19. HTC Radar (18. a week ago, 7. a month ago)
25. Nokia Lumia 710 Black (17. a week ago, 16. a month ago)

Verizon (67 phones offered)
55. HTC Trophy (49. a week ago, 67. a month ago)

Sprint (43 phones offered)
None offered

Pulled in and out of Nokia stock since July, only invested £2000 through hl.co.uk, now up to £6,000 after pulling out two days ago and reinvesting this morning.

S&p apparently havs no clues whatsoever. Since Nokia maps and Nokia drive officially were integrated into wp8, they are tightly bonded to Microsoft. Should Nokia fail, Microsoft would be forced to buy them. No matter what crap status s&p puts out.