Nokia's Debt Rating Takes A Dip

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We all know Nokia’s shares in the global phone market have been in the decline for a while. Perhaps biggest proof of this is the company’s loss of dominance against Android in China where it once reigned supreme. Well-known credit ratings corporation, Moody’s Investor Service Inc., also recently gave it a grade of Baa2, which is Moody’s second-lowest rank when it comes to investment rating.

Simply put, Nokia is now just a bit above being a junk investment – ratings a far cry from Nokia’s status in the past. That Nokia hasn’t done anything in the past few years to meet competition head-on is what caused this. But Moody notes that the company’s shares in the market would probably decline no further, as Nokia has started shipping out new phones such as ones with dual SIM capacity.

Nokia’s banking on the company’s transition to the Windows Mobile platform on 2012 to incite renewed interest among both carriers and consumers around the globe, particularly the United States.  But for now, we have the MeeGo phone, Nokia N9, to look forward to.