Moody's Investors Services downgraded Nokia's debt rating by a notch to B1, meaning that the Finnish handset manufacturer has slipped further into junk territory on the back of cash flow concerns.
Morgan The numbers are in, and it's time to make sense of the data. ABI Research's Michael Morgan checks out the world's 14 largest branded cell phone makers in the second...
ABI Research's Michael Morgan checks out the world's 14 largest branded cell phone makers in the second quarter of 2013, providing sales data as well as insight into their strategy and competitive position in the market. For an in-depth look at how handset makers' fared in the second quarter, check out this special report.
Nokia is currently testing a 6-inch phablet device running the latest Microsoft Windows Phone software with AT&T Mobility, and plans to release the gadget before year-end, according to a report from The Verge.
Nokia's performance over the past 12 months has been better than expected, according to a recent research note from Fitch Ratings. However, due to the remaining challenges and lack of visibility for the company's handset business, the ratings agency believes a stabilisation of its debt rating is still some way off.
Nokia's head of developer relations, Marco Argenti, said he is leaving the company after five years and taking a position with Amazon's web services team, dealing a blow to Nokia as it continues to try to gain traction with Microsoft's Windows Phone and its own Asha platform.
Operators are hustling to implement IT improvements that will help them reduce network capex and opex, and as a result ABI Research expects spending on virtualization of mobile networks will reach nearly $6 billion by 2018.
Nokia completed its acquisition of Siemens' 50 percent stake in Nokia Siemens Networks, and has renamed the vendor Nokia Solutions and Networks (thereby keeping the "NSN" acronym). However, that may not be the only change in store for the company: Bloomberg reported NSN is considering slashing 8,500 more jobs in a new round of cost-saving efforts.
Nokia Siemens Networks is changing its name to mark the next chapter in its history as a fully owned Nokia company, but any employees hoping for a shiny new moniker will be disappointed. Meanwhile rumours suggest that a further 8,500 job cuts could be ahead for the vendor.
Nokia's top executive in charge of application development expressed what appeared to be frustration with partner Microsoft's slow pace of software innovation and updates for the Windows Phone platform.