Webwire: S&P cut Nokia rating to junk; DoCoMo year-end profit down 5.4%

Staff writer
Nokia had its credit rating cut to "junk" status by ratings agency Standard & Poor's on Friday, its third downgrade to non-investment grade status in as many weeks as the handset maker battles falling sales and doubts over its product strategy
NTT DoCoMo said tax code changes dragged down its net profit for the year to March, but its operating profit saw a boost from smartphone sales
China Telecom's first-quarter net profit fell 6.5% to 4.27 billion yuan ($677.2 million) from a year earlier, due to rising network costs and handset subsidies, making it the only operator of the three Chinese cellcos to post a fall in net profit during the quarter.
The credit rating agency says India's adverse regulatory environment and risks in Africa outweigh Airtel's ability to organically improve its balance sheet
Australian incumbent carrier is targeting up to A$3 billion ($3.13 billion) of new telecoms service deals with the government and corporate sector in the year ahead.
Vodafone finalizes its offer for C&WW, but fund manager Orbis, C&WW’s largest investor, says the offer undervalues the firm
Taiwan Mobile posts net profits of NT$3.36 billion ($113.84 million) for the first quarter of 2012, edging up 2% from a year earlier
Optus may allow some customers to exit their mobile contracts after a court decision forced it to close down its Optus TV Now service
Qatar Telecom reported a 12% drop in first-quarter net profit, citing mainly foreign exchange losses, but the former monopoly still beat forecasts