Nokia Comments On Fitch's Credit Rating Announcement
Timo Ihamuotila, Nokia's (NYSE: NOK) 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.
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