After losing more than half of its market cap, Nokia fell into extremely oversold territory. Recent reports suggest that Windows-based Nokia Lumia phones are already shaking the smart phone sales. According to the majority of AMZN customers, the Lumia phone feels better than iOS and Android smartphones. I think this alliance could prove to be highly profitable in the long-term.
Moody’s cuts Nokia's senior debt rating from Baa2 to Baa3 - one notch above "junk" status - and maintains its negative outlook following the handset maker's unexpected profit warning last week. Nokia responds by pointing out that with a net cash position of €4.9B, its financial position remains strong.