Samsung’s strong report and apparently sales of over 90 million handsets shipped blew past Nokia’s (OMX: NOK1V, NYSE: NOK) number in Q1 2012 by some 10 million units. This ends the 14 year stronghold of the Finnish company as undisputed number 1 after it overtook Motorola toward the end of the 20th century. It comes on the heels of fast erosion of Nokia’s last stronghold, the emerging markets.
Following the recent action by Fitch Ratings, Standard & Poors followed suit and lowered Nokia’s long-term debt to speculative BB+. S&P also lowered Nokia’s short-term debt rating to B. Risto Siilasmaa who is set to become Chairman next week purchased 200 000 shares yesterday. Design Chief Marko Ahtisaari also initiated a position in the company with a small purchase.
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