Nokia Corp. has asked to delist from the Frankfurt Stock Exchange due to lower trading volumes of shares, the world's largest maker of mobile phones, said on Thursday.
Nokia To Remove The Frankfurt Stock Exchange
The message came as shares in the Finnish company continues to tumble, as it struggles against fierce competition in the sector of high-end smartphone and face rivals cheaper handsets in Asia.
In August, Standard and Poor's lowered the credit rating of Nokia, said the outlook for the company remained negative. Moody also dropped two notches from A3 to Baa2 in July because of a "serious deterioration" of Nokia's commercial position.
Nokia said the application was a pragmatic decision on greater access to the Internet world, which allows e-commerce from anywhere.
Besides Helsinki, Nokia are still traded from New York, but over the past eight years, Nokia has removed exchange in London, Paris and Stockholm.
Last month, Nokia has launched its highly anticipated first Windows phones - nine months after he teamed up with Microsoft to make smartphones. Standard and Poors said the partnership "could help Nokia to improve the competitive position of its current low smartphone portfolio."
Quote of the Nokia, which fell 50 percent since the partnership was announced in February below euro4.00, reviving some euro5.00 in late October.Nokia To Remove The Frankfurt Stock Exchange
On Wednesday, Nokia stock was trading up 2 percent year euro4.17 ($ 5.58) in Helsinki.
Nokia Application to delist from Frankfurt is the board of directors approves the Frankfurt Stock Exchange.
Source : Nokia.com
Nokia To Remove The Frankfurt Stock Exchange
The message came as shares in the Finnish company continues to tumble, as it struggles against fierce competition in the sector of high-end smartphone and face rivals cheaper handsets in Asia.
In August, Standard and Poor's lowered the credit rating of Nokia, said the outlook for the company remained negative. Moody also dropped two notches from A3 to Baa2 in July because of a "serious deterioration" of Nokia's commercial position.
Nokia said the application was a pragmatic decision on greater access to the Internet world, which allows e-commerce from anywhere.
Besides Helsinki, Nokia are still traded from New York, but over the past eight years, Nokia has removed exchange in London, Paris and Stockholm.
Last month, Nokia has launched its highly anticipated first Windows phones - nine months after he teamed up with Microsoft to make smartphones. Standard and Poors said the partnership "could help Nokia to improve the competitive position of its current low smartphone portfolio."
Quote of the Nokia, which fell 50 percent since the partnership was announced in February below euro4.00, reviving some euro5.00 in late October.Nokia To Remove The Frankfurt Stock Exchange
On Wednesday, Nokia stock was trading up 2 percent year euro4.17 ($ 5.58) in Helsinki.
Nokia Application to delist from Frankfurt is the board of directors approves the Frankfurt Stock Exchange.
Nokia To Remove The Frankfurt Stock Exchange
Application is not related announcement Tuesday that Nokia Siemens Networks to cut 17 000 jobs - nearly a quarter of its workforce - and the move to cut annual costs by 1 billion euros ($ 1.35 billion) by 2013 . The company is a joint venture of Nokia Corporation and Siemens AG of Germany.Source : Nokia.com
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