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Moody's downgrades Nokia to junk status

Nokia

Moody's ratings agency on Friday downgraded Nokia's debt grade to junk status, citing greater than anticipated pressure on the struggling cellphone maker's earnings after it announced plans for major cuts and global layoffs. It kept the outlook negative, meaning it could downgrade it again.

 

Nokia files patent lawsuits against HTC, RIM

Wounded cellphone maker Nokia has turned on one of its former allies in the patent protection battlefield by filing lawsuits against rival smartphone maker HTC as it steps up its efforts to raise funds.

 

Samsung Takes Cellphone Lead

Galaxy Note

Soaring sales of smartphones lifted Samsung Electronics's profit to a record and apparently pushed the South Korean company past Nokia as the world's biggest cellphone seller—and perhaps past Apple as No. 1 in smartphones.

 

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