Nokia Seeking $1B In Bonds, Reveals Lumia 510
Oct 23, 2012, 7:11 AM by Eric M. Zeman
Nokia today indicated that it is preparing to issue bonds in hopes of raising about $1 billion in new financing. The company's cash reserves fell from $5.5 billion to $4.7 billion during the third quarter. The new convertible bonds will be due in 2017 and should help shore up Nokia's resources. Also today, Nokia announced the Lumia 510, an entry-level Windows Phone for world markets. The 510 has a 4-inch WVGA display, 5-megapixel camera, Qualcomm Snapdragon processor, 256MB of RAM, and 4GB of on-board storage. It comes in five colors and runs Windows Phone 7.5. It costs about $200.
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