EMEA Technology Correspondent
Tarmo's Feed
Apr 24, 2012

Ratings cut piles fresh agony on Nokia

HELSINKI (Reuters) – Fitch ratings agency piled fresh agony on Nokia on Tuesday, cutting its debt rating to junk status for the first time and warning the struggling handset maker’s cash position was under severe strain.

Nokia’s rating – already downgraded in recent weeks by Standard & Poor’s and Moody’s – was cut to BB+ from BBB- by Fitch which said this could be lowered further unless the company’s business improved over the second half of 2012 and in 2013.

Apr 24, 2012

Fitch cuts Nokia to junk, outlook negative

HELSINKI (Reuters) – Fitch Ratings downgraded its credit rating on Nokia Oyj to junk status and said the outlook remained negative, as the Finnish handset maker’s dwindling market share starts to strain its cash position.

Shares in Nokia, which were hit badly this month by a profit warning, fell 2 percent to a new 15-year low of 2.654 euros after the downgrade on Tuesday.

Apr 19, 2012

Nokia executive quits as phone sales plummet

HELSINKI (Reuters) – Nokia dropped its sales chief and promised to slash more costs, as Chief Executive Stephen Elop battles to reinvent the cellphone maker to compete with smartphone rivals.

The Finnish company, which is expected to be overtaken as the world’s biggest handset maker by Samsung Electronics, swung to a net loss of 1.6 billion euros in the first quarter, hit by falling sales and heavy restructuring charges.

Apr 18, 2012

Nokia under pressure to show turnaround plan

HELSINKI (Reuters) – Nokia’s Chief Executive Stephen Elop will be under pressure on Thursday to convince investors the Finnish mobile phone company is still capable of a turnaround, after last week warning markets it expects to post losses for the first six months of 2012.

Nokia is due to announce its full, first-quarter report at around 1000 GMT, and hold a conference call with investors at 1200 GMT.

Apr 18, 2012

Nokia’s elusive recovery rekindles strategy doubts

HELSINKI (Reuters) – When Stephen Elop bet Nokia’s future on a deal with Microsoft, he was hit with a barrage of criticism. After a year of respite, the chief executive is again being haunted by a decision that is costing the shrinking mobile phone company sales and favor.

Nokia (NOK1V.HE: Quote, Profile, Research, Stock Buzz) switched from developing its own Symbian operating system for the as-yet untried Windows Phone software in February 2011 and is now stuck in a sales gulf between phasing out its old smartphones and ramping up production of the new ones.

Apr 15, 2012

Samsung may overtake Nokia for cellphone crown

HELSINKI (Reuters) – Korea’s Samsung Electronics Co Ltd(005930.KS: Quote, Profile, Research) ended Nokia Oyj’s(NOK1V.HE: Quote, Profile, Research) 14-year leadership of the global cellphone market in the first quarter of the year, outselling the struggling Finnish handset maker for the first time ever, according to a Reuters poll of analysts.

The poll showed analysts on average expect Samsung to have sold 88 million cellphones in January through March, surpassing the 83 million which Nokia sold in the quarter.

Apr 14, 2012

Nokia says fixed Lumia 900 smartphone software bug

HELSINKI (Reuters) – Nokia (NOK1V.HE: Quote, Profile, Research) said on Saturday it has fixed a software bug in its Lumia 900 smartphones which went on sale a week ago in the United States, its answer to Apple’s (AAPL.O: Quote, Profile, Research) iPhone.

Earlier this week Nokia said its first 4G phone, which it markets with the strapline “an amazingly fast way to connect”, can occasionally lose its data connection due to the bug. It promised to fix the problem around April 16.

Apr 14, 2012

Nokia says fixed flagship smartphone software bug

HELSINKI (Reuters) – Nokia (NOK1V.HE: Quote, Profile, Research, Stock Buzz) said on Saturday it has fixed a software bug in its Lumia 900 smartphones which went on sale a week ago in the United States, its answer to Apple’s (AAPL.O: Quote, Profile, Research, Stock Buzz) iPhone.

Earlier this week Nokia said its first 4G phone, which it markets with the strapline “an amazingly fast way to connect”, can occasionally lose its data connection due to the bug. It promised to fix the problem around April 16.

Apr 12, 2012

Investors losing faith that Nokia can stop the rot

HELSINKI (Reuters) – Ailing cellphone maker Nokia has the cash to survive seven quarters like the last, but investors are losing faith that it can break the vicious circle that keeps customers and in turn application developers from its new phones.

Chief Executive Stephen Elop, who joined from Microsoft in 2010, gambled last year that ditching Nokia’s homegrown Symbian phone software in favor of a largely untried version from his old employer would put the company back in the driving seat.

Apr 12, 2012

Samsung seen taking cellphone crown from Nokia: poll

HELSINKI (Reuters) – Korea’s Samsung Electronics Co Ltd ended Nokia Oyj’s 14-year leadership of the global cellphone market in the first quarter of the year, outselling the struggling Finnish handset maker for the first time ever, according to a Reuters poll of analysts.

The poll showed analysts on average expect Samsung to have sold 88 million cellphones in January through March, surpassing the 83 million which Nokia sold in the quarter.