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Nokia executive vice president insists vendor is 'maintaining a strong financial position,' despite Fitch downgrade to 'junk' status
April 24, 2012
ESPOO, Finland -- Timo Ihamuotila, Nokia's Executive Vice President and CFO, comments on today's unsolicited rating from Fitch: "We are quickly taking action to position Nokia for future growth and success. Nokia will continue to increase its focus on lowering the company's cost structure, improving cash flow and maintaining a strong financial position."
Nokia's financial position remains strong. As of March 31 2012, Nokia had gross cash balances of EUR 9.8 billion, and a net cash position of EUR 4.9 billion. Nokia reported its first quarter 2012 results on April 19, 2012.
Nokia Corp. (NYSE: NOK)
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