Nokia Corporation (ADR) (NOK) News: Least Favorable Market, Unusual Challenge & More

Editor’s Note: Nokia Corporation (ADR) (NYSE:NOK), Facebook Inc (NASDAQ:FB)

Nokia threatens to ‘quit’ India: Report (Times of India)
Finnish telecom giant Nokia Corporation (ADR) (NYSE:NOK) has told India’s government that the country is now its “least favourable market” to operate in and it makes better sense to export its products from China, a report said Friday. Nokia, which is fighting a 20-billion rupee ($311 million) tax demand from Indian authorities, urged the government to “act quickly to correct the wrong perception of India as a place for business”, The Indian Express newspaper reported.

Nokia Corporation (ADR) (NOK), Microsoft Corporation (MSFT)

Nokia: A bet with a safety net (FT)
As Nokia Corporation (ADR) (NYSE:NOK) was developing its latest smartphone, Stephen Elop came up with an unusual challenge for the engineers. Mr Elop, the Finnish company’s Canadian chief executive, would stand in the darkened corner of a room while the engineers stood on the other side, taking his picture. The goal? To see if they could produce a photograph sharp enough so that you could tell the time on his watch. Eventually they did.

Nokia Cut Further Into Junk by Moody’s on Cash-Flow Concern (Bloomberg)
Nokia Corporation (ADR) (NYSE:NOK)’s debt was cut further into junk by Moody’s Investors Service, the latest downgrade for the company after it bought out its partner in the Nokia Siemens Networks venture for 1.7 billion euros ($2.3 billion).
The corporate family rating was lowered one level to B1, or four levels below investment grade, with a negative outlook, Moody’s said in a statement yesterday. Standard & Poor’s reduced the Espoo, Finland-based company’s rating last month.

Tax Woes Could Force Nokia to Move Indian Production to China (International Business times)
Protracted tax problems could force Finnish phone maker Nokia to shut down one of its largest phone-manufacturing facilities, in southern India’s Chennai city. The move would affect 8,000 jobs directly. According to a newspaper report, Nokia, in a letter dated 19 June, informed the Indian government that the country was its “least favourable market” to operate in.

Windows Phone Over-Sharers Rejoice! Nokia Exec Confirms Instagram Coming (Gotta Be Mobile)
Windows Phone users who have Instagram envy for sharing their images and photos on the Facebook Inc (NASDAQ:FB)-owned photo sharing service can breathe a sigh of relief as Nokia Corporation (ADR) (NYSE:NOK) EVP Chris Weber has confirmed that Instagram will be coming to the Microsoft mobile platform. In the past, rumors of an official Instagram client coming to Windows Phone, and more specifically to Windows Phone 8, have largely been false starts as neither Instagram nor Facebook has commented on those rumors.