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Nokia Credit Rating Cut by S&P

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Nokia logoESPOO, FinlandNokia’s credit rating was cut by¬†Standard & Poor’s Ratings Service for the first time since Nokia opened its doors.

Nokia only took a subtle step down from an “A” to an “A-” but seems to be the latest blow in a few year span that hasn’t been the kindest to Nokia. The reason the rating slipped was based that Nokia is continue to lose ground and market share with its Symbian operating system in place which will be used for the rest of this year.

Article: Nokia E7 Review

Next year, Nokia expects to be shipping large volumes of Windows Phone 7 smartphones which is expected to be a big turn around for the company. The business risk rating of Nokia also went from “strong” to “satisfactory” which again is based on Nokia’s every declining market share around the globe.

Time will tell if the Windows Phone 7 platform can save Nokia or if it’s already too late.

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By , Chicago, IL, USA on Apr 3rd, 2011 GMT +2

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