Home Credit Ratings and Research S&P Global Ratings’ Credit Research Nokia Corp.

Summary: Nokia Corp.

Published May 29, 2012

2117 words — Published May 29, 2012

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

The ratings on Finland-based Nokia Corp. reflect our opinion of the company's fair business risk profile and intermediate financial risk profile. The ratings are constrained by the fiercely competitive nature of the mobile handset business that requires rapid technological advances to satisfy fast-changing customer demands; Nokia's revenues from Symbian-based smartphones have declined for some time but the decline accelerated in the first quarter of 2012. They are also constrained by our expectation of negative non-IFRS operating margins for the Devices and Services division and negative consolidated free operating cash flow (FOCF) in 2012 and the low profitability of and challenging competitive conditions facing its 50%-owned but fully consolidated network business, Nokia Siemens Networks (NSN). The ratings are supported by the

Brief Excerpt:

RESEARCH Summary: Nokia Corp. Publication date: 29-May-2012 Primary Credit Analyst: Thierry Guermann, Stockholm (46) 8-440-5905; thierry_guermann@standardandpoors.com Secondary Contact: Matthias Raab, CFA, Frankfurt (49) 69-33-999-122;...

Report Type:

Summary

Issuer

Nokia Corp.

GICS

Communications Equipment (45201020)

Sector

Global Issuers

Country

Finland

Region

United States

Format:

HTML

Nokia Downgraded To 'BB-' On Likely Lower Profitability And Cash Flow; Outlook Negative – 2012/08/15 – US$ 150.00

Research Update: Nokia Downgraded To 'BB-' On Likely Lower Profitability And Cash Flow; Outlook Negative – 2012/08/15 – US$ 225.00

Summary: Nokia Corp. – 2013/02/21 – US$ 225.00

Nokia Corp. – 2013/05/30 – US$ 500.00

Summary: Nokia Corp. – 2013/05/30 – US$ 225.00

Nokia Corp. – 2012/05/29 – US$ 500.00

Nokia Downgraded To 'BB+/B' On Revised Profitability And Free Operating Cash Flow; Outlook Negative – 2012/04/27 – US$ 150.00

Research Update: Nokia Downgraded To 'BB+/B' On Revised Profitability And Free Operating Cash Flow; Outlook Negative – 2012/04/27 – US$ 225.00

Nokia Downgraded To 'BBB-/A-3' On Revised Assessment Of Profitability And Competitive Position; Outlook Negative – 2012/03/02 – US$ 150.00

Research Update: Nokia Downgraded To 'BBB-/A-3' On Revised Assessment Of Profitability And Competitive Position; Outlook Negative – 2012/03/02 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Nokia Corp." May 29, 2012. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Nokia-Corp-970327>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Nokia Corp. May 29, 2012. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Nokia-Corp-970327>

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