nsane.forums Posted April 28, 2012 Share Posted April 28, 2012 Nokia's credit rating was cut down to junk status by rating agency Standard & Poor's on Friday, following a similar credit reduction by Fitch Ratings earlier this week. The bad news, at least financially, for Nokia continued today. Reuters reports that the second of the three major credit rating agencies, Standard & Poor's, cut its rating of the smartphone maker down to "junk" status. This follows a similar downgrade by Fitch Ratings earlier this week. In its statement, S&P said, "We still expect revenue from Lumia smartphones to grow over time, but not sufficiently to offset a rapid decline in revenue from Symbian-based smartphones over the next few quarters." As they did with Fitch's downgrade, Nokia sent out a press release with this statement about the S&P decision: As we have detailed in recent announcements, Nokia is in the middle of a transformation program which encompasses every aspect of our business. We are implementing a decisive action plan to position our company for future growth and success. The main focus of these actions is on lowering the company's costs, improving cash flow and maintaining a strong financial position, while bringing attractive new products to market. Nokia also repeated that their financial situation "remains strong" with a net cash amount of 4.9 billion euros. A new report from Strategy Analytics this week claims that Nokia is no longer the number one maker of mobile phones for the first time in over a decade as it lost that position to Samsung in the first quarter of 2012. View: Original Article Link to comment Share on other sites More sharing options...
sanjoa Posted April 28, 2012 Share Posted April 28, 2012 :rofl: @Nokia . Junk cell phones, junk Symbian, junk Windows phones :rofl: Link to comment Share on other sites More sharing options...
calguyhunk Posted April 28, 2012 Share Posted April 28, 2012 Once Symbian didn't work, they needed to have switched to Android. They held on to Symbian for wayyy too long for starters and then had their hands tied 'coz they needed money to research & develop their new platform. It was here that Microsoft stepped in and offered more for their platform to be exclusively Windows than Google offered for Android. It was a deal between two desperate pretenders to the mobile handset throne when the battle was well and truely between Apple and Google+Samsung (mostly). By that time of course Google knew that Nokia needs a new OS so much more than they need the no. 1 handset manufacturer in the world so they didn't feel like they need to go out of their way to pull in the Finnish telecom giant. As it turns out and as most of us had feared, both had miscalculated a tad. Of course Nokia fatally so, but even Google 'coz with Nokia in tow, they could have got an even higher market share vis-a-vis iOS. @ Nokia - All's not lost yet. If there's an exit clause in your contract with MS, get the hell out and latch on to Android for dear life provided you get somebody to bankroll your project, 'coz it doesn't look like Google's gonna be too psyched at this juncture :( Link to comment Share on other sites More sharing options...
just1acc Posted April 28, 2012 Share Posted April 28, 2012 Nope NOKIA is on right direction. Only the situation is not favourable to them. "Not another android vendor" strategy is very good.And yeh, those iOS/Droid fans should know that there are some people like me prefer high performance, budget smartphones. That's symbian. I'm a huge fan of keyboard style symbian phones. Unfortunately those are not being manufactured anymore.I love my N82 than my LG Optimus, and sister's iPhone 4GS. Link to comment Share on other sites More sharing options...
Gabben Posted April 28, 2012 Share Posted April 28, 2012 Nope NOKIA is on right direction. Only the situation is not favourable to them. "Not another android vendor" strategy is very good. And yeh, those iOS/Droid fans should know that there are some people like me prefer high performance, budget smartphones. That's symbian. I'm a huge fan of keyboard style symbian phones. Unfortunately those are not being manufactured anymore. I love my N82 than my LG Optimus, and sister's iPhone 4GS. The problem is they make ONLY WP phones. They should make also android and time will tell wich is selling better then keep that OS and dump the other. Link to comment Share on other sites More sharing options...
Alanon Posted April 28, 2012 Share Posted April 28, 2012 @sanjoa: I would like your post 100 times if it were possible.Filanny, someone said the truth about Nokia. Complicated, outdated, butt-ugly, and simply wrong.the only model they made well is the immortal e90 communicator. Now for that I say :notworthy:The post says everything else. XD Link to comment Share on other sites More sharing options...
Tweety.Abd Posted April 28, 2012 Share Posted April 28, 2012 I agree, they're junk now. They should have switched to Android instead. Link to comment Share on other sites More sharing options...
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