Nokia increasingly in crisis. After the publication of yet another disappointing balance sheet, another blow comes for the Finnish telephony giant. To give it to him is rating agency Moody's, which announced it has downgraded Nokia's rating from 'Baa2' to 'Baa3', maintaining negative prospects which may herald further downgrades.
This following the Nokia's own revision of first quarter mobile and smartphone sales forecasts for the worse, announced last week and which triggered a collapse of the group on the stock exchange.
“If quarterly volatility is not unusual, Moody's believes the challenges Nokia faces in the handset industry may not be easy to overcome – reads a press release from the agency – such as the strengthening of market shares by low-cost producers”. In the afternoon trading on the Helsinki Stock Exchange the Nokia share dropped again, down by -3,27% to 2,96 euros.
