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

Nokia appear to be having 1 of those days where they can't get much of pause from the fiscal institutions that help decide their fate. S&P has in one case 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-take a chance.  What'southward more, Due south&P indicate that further downgrades could be Nokia'south futurity should things not plough around rapidly.

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

"The impact of Standard & Poor'due south 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 active.

Nosotros ended the second quarter 2022 with gross and net cash both higher than a year earlier. With gross cash of EUR 9.4 billion and cyberspace cash of EUR 4.2 billion, we have a strong fiscal position and robust liquidity contour. We also have admission to additional liquidity via a revolving credit facility of EUR 1.5 billion. This is entirely undrawn, available to u.s.a. until March 2022, and comes without any financial covenants."

In brusque, that means austerity and Nokia is doing all they tin to slash and fire to make the company lean again.

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

As of this writing, Nokia stock is rading upwards nearly 2% at $2.54 a share, staying well to a higher place the $2 mark at present 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 volition be released "relatively near term". That implication is of class for Nokia Earth in a few weeks where the Finnish company is expected to reveal up to 3 new Windows Phones featuring the Apollo operating system.

At to the lowest degree two of those devices may have been partially revealed with the 'Phi' and an unnamed device spotted yesterday. The 'Phi' is idea to be a Lumia 800/900 blazon 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

Source: https://www.windowscentral.com/nokia-news-roundup-sp-downgrades-windows-phone-8

Posted by: riosbroment.blogspot.com

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