Nokia unfazed by S&P downgrade, plans September Windows Phone event

Nokia put its best face forward after credit rating agency Standard & Poor's downgraded the Finnish company's credit rating again amid fears that the manufacturer might have to further reduce the price of its Lumia smartphones.

Nokia and Microsoft will hold a media event Sept. 5 in New York.

Nokia said it has a "strong financial position and robust liquidity profile," and added that it has access to additional liquidity through a €1.5 billion credit facility than runs until 2016, according to a Dow Jones Newswires report.

"The impact of Standard & Poor's decision on the company is limited," Nokia CFO Timo Ihamuotila said in a statement.

Nokia will hold joint media event with Microsoft on Sept. 5 in New York City, when Nokia is expected to unveil its first Lumia smartphones running the Windows Phone 8 operating system. The annual Nokia World conference is due start on that date as well in Helsinki, but the manufacturer has not commented on specific plans for the event.

A Windows Phone announcement that week would be an apparent attempt by Nokia to try and get some media attention for its products ahead fo Apple, which is rumoured to be planning a Sept. 12 event to unveil the next iPhone.

For more:
- see this Dow Jones Newswires article
- see this Reuters article
- see this Guardian aricle

Related Articles:
Nokia, Microsoft to hold Windows Phone event Sept. 5
Nokia's Elop commits to Windows Phone, promises new smartphones soon
Report: Nokia seeks revenue-sharing deals with carriers for Lumia smartphones
Fitch hits Nokia with further downgrade, questions product portfolio
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