“Fitch cut its rating on Nokia – already downgraded in recent weeks by Standard & Poor’s and Moody’s – to BB+ from BBB – and said this could be lowered further unless the company’s business showed improvements over the second half of 2012 and in 2013,” Virki reports. “‘Given the potential headwinds facing the company, Fitch is currently not convinced that Nokia can attain this over the course of 18 months,’ it said in a statement.”
Virki reports, “Its Chief Executive Stephen Elop bet last year the firm on the new range of Lumia smartphones, which are using Microsoft Corp software, but sales have so far been slow. Last week Nokia reported a steep loss for the first quarter, dropped its sales chief and promised to slash more costs.”
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MacDailyNews Take: JIJO.