11th May 2010 11:58
Nokia / Miscellaneous 11.05.2010 12:58 Dissemination of a UK Regulatory Announcement, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.--------------------------------------------------------------------------- Nokia CorporationStock exchange releaseMay 11, 2010 at 14:00 (CET +1) Nokia simplifies its organizational structure to accelerate execution andinnovation Espoo, Finland - To increase competitiveness and deliver a stronger and moredifferentiated consumer experience, Nokia will introduce a simplified companystructure for its devices and services business comprised of three units:Mobile Solutions, Mobile Phones and Markets. Effective July 1, 2010, the moveaims to accelerate product innovation and software execution in line with thecompany's goals of integrating content, applications and services into itsmobile computer, smartphone and mobile phone portfolio. The new Mobile Solutions unit will concentrate on the company's high-end mobilecomputer and smartphone portfolio. Based on both the MeeGo and Symbiansoftware platforms respectively, these devices will be tightly integrated withNokia's Internet services to increase the combined value for consumers. The renewed Mobile Phones unit will focus on maintaining Nokia's leadership inthe feature-rich mobile phone market and driving the direction of Series 40,the world's largest mobile operating system. Both the Mobile Solutions andMobile Phones units will have dedicated portfolio management, including productplanning, R&D and dedicated software assets. Markets will be responsible for Nokia's 'go-to-market' activities, includingsales and marketing, management of Nokia's global supply chains and sourcingoperations. 'In addition to extending our leadership in mobile phones, we are decisivelymoving to respond faster to growth opportunities we expect in smartphones andmobile computers,' says Olli-Pekka Kallasvuo, CEO of Nokia. 'Nokia's neworganizational structure is designed to speed up execution and accelerateinnovation, both short-term and longer-term. We believe that this will allowus to build stronger mobile solutions - a portfolio of products and integratedservices that connect people and enable new ways of communicating, sharing andexperiencing mobility.' To strike the right balance between business continuity, professionalcompetencies and faster execution, this organizational realignment includeschanges among Nokia's senior executives. The Mobile Solutions unit will be headed by Anssi Vanjoki and be comprised ofMeeGo Computers, led by Alberto Torres, and Symbian Smartphones, led by JoHarlow. As part of the Mobile Solutions unit, Services - led by Tero Ojanpera -will continue to develop Ovi as an integrated service into smartphones andmobile computers, and lead the development and deployment of new services intoNokia's mobile phones. Nokia has also appointed Rich Green to the position ofChief Technology Officer, assuming responsibility for driving common technologyarchitecture across Nokia. Green brings a wealth of experience from his time inSilicon Valley, including a number of years at Sun Microsystems. He will reportto Anssi Vanjoki. Headed by Mary McDowell, the Mobile Phones unit will work closely with Servicesto add value to lower-end devices through offerings such as Ovi Life Tools, OviMail, Ovi Store and Nokia Money. The Markets unit will continue to focus on Nokia's overall sales and marketingefforts, solution selling, transformation to digital marketing andconsolidation and globalization of Nokia's supply chain and sourcing. Marketswill be headed by Niklas Savander. Kai Oistamo assumes the role of Chief Development Officer and head of CorporateDevelopment. Rick Simonson, who currently heads Mobile Phones, has decided to retire fromfull-time duties at Nokia. Simonson will leave the Nokia Group Executive Boardeffective June 30, 2010. However, he will continue as a senior advisor toNokia, focusing on Nokia Siemens Networks, until the end of the year. Simonsonwill continue to serve as a member of Nokia Siemens Networks' Board ofDirectors after he leaves Nokia. 'Rick has made a substantial contribution and leaves behind a legacy inoperational and financial leadership. I would like to thank him for hisinvaluable contribution,' says Kallasvuo. 'We will certainly miss Rick, but arepleased he will continue as a senior advisor to Nokia until the end of year,and continue as an NSN board member beyond that.' As of July 1, 2010 Nokia's Group Executive Board will consist of the followingmembers: Olli-Pekka Kallasvuo, Esko Aho, Juha Akras, Timo Ihamuotila, MaryMcDowell, Kai Oistamo, Tero Ojanpera, Niklas Savander, Alberto Torres, andAnssi Vanjoki. A chart of the new organizational structure, valid from July 1, 2010, isavailable at http://www.nokia.com/A4630650?category=company About NokiaAt Nokia, we are committed to connecting people. We combine advanced technologywith personalized services that enable people to stay close to what matters tothem. Every day, more than 1.2 billion people connect to one another with aNokia device - from mobile phones to advanced smartphones and high-performancemobile computers. Today, Nokia is integrating its devices with innovativeservices through Ovi (www.ovi.com), including music, maps, apps, email andmore. Nokia's NAVTEQ is a leader in comprehensive digital mapping andnavigation services, while Nokia Siemens Networks provides equipment, servicesand solutions for communications networks globally. FORWARD-LOOKING STATEMENTS It should be noted that certain statements herein which are not historicalfacts are forward-looking statements, including, without limitation, thoseregarding: A) the timing of the deliveries of our products and services andtheir combinations; B) our ability to develop, implement and commercialize newtechnologies, products and services and their combinations; C) expectationsregarding market developments and structural changes; D) expectations andtargets regarding our industry volumes, market share, prices, net sales andmargins of products and services and their combinations; E) expectations andtargets regarding our operational priorities and results of operations; F) theoutcome of pending and threatened litigation; G) expectations regarding thesuccessful completion of acquisitions or restructurings on a timely basis andour ability to achieve the financial and operational targets set in connectionwith any such acquisition or restructuring; and H) statements preceded by'believe,' 'expect,' 'anticipate,' 'foresee,' 'target,' 'estimate,' 'designed,''plans,' 'will' or similar expressions. These statements are based onmanagement's best assumptions and beliefs in light of the information currentlyavailable to it. Because they involve risks and uncertainties, actual resultsmay differ materially from the results that we currently expect. Factors thatcould cause these differences include, but are not limited to: 1) thecompetitiveness and quality of our portfolio of products and services and theircombinations; 2) our ability to timely and successfully develop or otherwiseacquire the appropriate technologies and commercialize them as new advancedproducts and services and their combinations, including our ability to attractapplication developers and content providers to develop applications andprovide content for use in our devices; 3) our ability to effectively, timelyand profitably adapt our business and operations to the requirements of theconverged mobile device market and the services market; 4) the intensity ofcompetition in the various markets where we do business and our ability tomaintain or improve our market position or respond successfully to changes inthe competitive environment; 5) the occurrence of any actual or even allegeddefects or other quality, safety or security issues in our products andservices and their combinations; 6) the development of the mobile and fixedcommunications industry and general economic conditions globally andregionally; 7) our ability to successfully manage costs; 8) exchange ratefluctuations, including, in particular, fluctuations between the euro, which isour reporting currency, and the US dollar, the Japanese yen and the Chineseyuan, as well as certain other currencies; 9) the success, financial conditionand performance of our suppliers, collaboration partners and customers; 10) ourability to source sufficient amounts of fully functional components,sub-assemblies, software, applications and content without interruption and atacceptable prices and quality; 11) our success in collaboration arrangementswith third parties relating to the development of new technologies, productsand services, including applications and content; 12) our ability to manageefficiently our manufacturing and logistics, as well as to ensure the quality,safety, security and timely delivery of our products and services and theircombinations; 13) our ability to manage our inventory and timely adapt oursupply to meet changing demands for our products; 14) our ability to protectthe complex technologies, which we or others develop or that we license, fromclaims that we have infringed third parties' intellectual property rights, aswell as our unrestricted use on commercially acceptable terms of certaintechnologies in our products and services and their combinations; 15) ourability to protect numerous Nokia, NAVTEQ and Nokia Siemens Networks patented,standardized or proprietary technologies from third-party infringement oractions to invalidate the intellectual property rights of these technologies;16) the impact of changes in government policies, trade policies, laws orregulations and economic or political turmoil in countries where our assets arelocated and we do business; 17) any disruption to information technologysystems and networks that our operations rely on; 18) our ability to retain,motivate, develop and recruit appropriately skilled employees; 19) unfavorableoutcome of litigations; 20) allegations of possible health risks fromelectromagnetic fields generated by base stations and mobile devices andlawsuits related to them, regardless of merit; 21) our ability to achievetargeted costs reductions and increase profitability in Nokia Siemens Networksand to effectively and timely execute related restructuring measures; 22)developments under large, multi-year contracts or in relation to majorcustomers in the networks infrastructure and related services business; 23) themanagement of our customer financing exposure, particularly in the networksinfrastructure and related services business; 24) whether ongoing or anyadditional governmental investigations into alleged violations of law by someformer employees of Siemens AG ('Siemens') may involve and affect thecarrier-related assets and employees transferred by Siemens to Nokia SiemensNetworks; 25) any impairment of Nokia Siemens Networks customer relationshipsresulting from ongoing or any additional governmental investigations involvingthe Siemens carrier-related operations transferred to Nokia Siemens Networks;as well as the risk factors specified on pages 11-32 of Nokia's annual reportForm 20-F for the year ended December 31, 2009 under Item 3D. 'Risk Factors.'Other unknown or unpredictable factors or underlying assumptions subsequentlyproving to be incorrect could cause actual results to differ materially fromthose in the forward-looking statements. Nokia does not undertake anyobligation to publicly update or revise forward-looking statements, whether asa result of new information, future events or otherwise, except to the extentlegally required. Media Enquiries: NokiaCommunicationsTel. +358 7180 34900Email: [email protected] www.nokia.com News Source: NASDAQ OMX 11.05.2010 DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: EnglishCompany: Nokia FinlandPhone: Fax: E-mail: Internet: ISIN: FI0009000681Category Code: MSCLSE Ticker: 0HAFSequence Number: 483Time of Receipt: May 11, 2010 12:58:25 End of Announcement DGAP News-Service ---------------------------------------------------------------------------UK-Regulatory-announcement transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.
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