27th Apr 2011 09:15
Nokia / Miscellaneous 27.04.2011 10:15 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 releaseApril 27, 2011 at 11.15 (CET +1) Espoo, Finland - To deliver on its new strategy, Nokia today announced plans toalign its global workforce and consolidate site operations. These measures arepart of Nokia's target to reduce its Devices & Services non-IFRS operatingexpenses by 1 billion euros for the full year 2013 in comparison to the fullyear 2010, as announced last week. Earlier today, Nokia announced plans to form a strategic collaboration withAccenture that would result in the transfer of Nokia's Symbian softwareactivites, including about 3,000 employees to Accenture. In addition, Nokiaalso plans to reduce its global workforce by about 4,000 employees by the endof 2012, with the majority of reductions in Denmark, Finland and the UK. Inaccordance with country-by-country legal requirements, discussions withemployee representatives started today. Nokia also plans to consolidate the company's research and product developmentsites so that each site has a clear role and mission. Nokia expects theexpansion of some sites and the contraction or closure of others. All employees affected by the reduction plans can stay on the Nokia payrollthrough the end of 2011. Nokia expects personnel reductions to occur in phasesuntil the end of 2012, linked to the roll-out of Nokia's planned product andservices portfolio. During this period, Nokia intends to ramp up its capacityfor the development of Nokia smartphones based on the Windows Phone platform,the company's broad range of mobile phones and its services portfolio. 'At Nokia, we have new clarity around our path forward, which is focused on ourleadership across smart devices, mobile phones and future disruptions,' saidStephen Elop, Nokia president and CEO. 'However, with this new focus, we alsowill face reductions in our workforce. This is a difficult reality, and we areworking closely with our employees and partners to identify long-termre-employment programs for the talented people of Nokia.' Nokia is launching a comprehensive social responsibility program for employeesand the communities likely to be affected by the personnel reductions. Theprogram will be led locally, with local partners and stakeholders, and seniormanagement support. 'We are offering those who are losing their jobs a range of options, fromindividual re-employment support and re-training to making investments topromote innovation and working with a variety of partners to create newopportunities,' Elop continued. About NokiaNokia is committed to connecting people to what matters to them by combiningadvanced mobile technology with personalized services. More than 1.3 billionpeople connect to one another with a Nokia, from our most affordablevoice-optimized mobile phones to advanced Internet-connected smartphones soldin virtually every market in the world. Through Ovi (www.ovi.com), people alsoenjoy access to maps and navigation on mobile, a rapidly expanding applicationsstore, a growing catalog of digital music, free email and more. Nokia's NAVTEQis a leader in comprehensive digital mapping and navigation services, and NokiaSiemens Networks is one of the leading providers of telecommunicationsinfrastructure hardware, software and professional services globally. FORWARD-LOOKING STATEMENTSIt should be noted that certain statements herein which are not historicalfacts are forward-looking statements, including, without limitation, thoseregarding: A) the expected plans and benefits of our strategic partnership withMicrosoft to combine complementary assets and expertise to form a global mobileecosystem and to adopt Windows Phone as our primary smartphone platform; B) thetiming and expected benefits of our new strategy, including expectedoperational and financial benefits and targets as well as changes in leadershipand operational structure; C) the timing of the deliveries of our products andservices; D) our ability to innovate, develop, execute and commercialize newtechnologies, products and services; E) expectations regarding marketdevelopments and structural changes; F) expectations and targets regarding ourindustry volumes, market share, prices, net sales and margins of products andservices; G) expectations and targets regarding our operational priorities andresults of operations; H) expectations and targets regarding collaboration andpartnering arrangements; I) the outcome of pending and threatened litigation;J) expectations regarding the successful completion of acquisitions orrestructurings on a timely basis and our ability to achieve the financial andoperational targets set in connection with any such acquisition orrestructuring; and K) statements preceded by 'believe,' 'expect,' 'anticipate,''foresee,' 'target,' 'estimate,' 'designed,' 'plans,' 'will' or similarexpressions. These statements are based on management's best assumptions andbeliefs in light of the information currently available to it. Because theyinvolve risks and uncertainties, actual results may differ materially from theresults that we currently expect. Factors that could cause these differencesinclude, but are not limited to: 1) our ability to succeed in creating acompetitive smartphone platform for high-quality differentiated winningsmartphones or in creating new sources of revenue through our partnership withMicrosoft; 2) the expected timing of the planned transition to Windows Phone asour primary smartphone platform and the introduction of mobile products basedon that platform; 3) our ability to maintain the viability of our currentSymbian smartphone platform during the transition to Windows Phone as ourprimary smartphone platform; 4) our ability to realize a return on ourinvestment in MeeGo and next generation devices, platforms and userexperiences; 5) our ability to build a competitive and profitable globalecosystem of sufficient scale, attractiveness and value to all participants andto bring winning smartphones to the market in a timely manner; 6) our abilityto produce mobile phones in a timely and cost efficient manner withdifferentiated hardware, localized services and applications; 7) our ability toincrease our speed of innovation, product development and execution to bringnew competitive smartphones and mobile phones to the market in a timely manner;8) our ability to retain, motivate, develop and recruit appropriately skilledemployees; 9) our ability to implement our strategies, particularly our newmobile product strategy; 10) the intensity of competition in the variousmarkets where we do business and our ability to maintain or improve our marketposition or respond successfully to changes in the competitive environment; 11)our ability to maintain and leverage our traditional strengths in the mobileproduct market if we are unable to retain the loyalty of our mobile operatorand distributor customers and consumers as a result of the implementation ofour new strategy or other factors; 12) our success in collaboration andpartnering arrangements with third parties, including Microsoft; 13) thesuccess, financial condition and performance of our suppliers, collaborationpartners and customers; 14) our ability to source sufficient quantities offully functional quality components, subassemblies and software on a timelybasis without interruption and on favorable terms, including the disruption ofproduction and/or deliveries from any of our suppliers as a result of adverseconditions in the geographic areas where they are located; 15) our ability tomanage efficiently our manufacturing, service creation, delivery and logisticswithout interruption; 16) our ability to ensure the timely delivery ofsufficient volumes of products that meet our and our customers' and consumers'requirements and manage our inventory and timely adapt our supply to meetchanging demands for our products; 17) any actual or even alleged defects orother quality, safety and security issues in our products; 18) any actual oralleged loss, improper disclosure or leakage of any personal or consumer datacollected or made available to us or stored in or through our products; 19) ourability to successfully manage costs, including our ability to achieve targetedcosts reductions and to effectively and timely execute related restructuringmeasures, including personnel reductions; 20) our ability to effectively andsmoothly implement the new operational structure for our devices and servicesbusiness effective April 1, 2011; 21) the development of the mobile and fixedcommunications industry and general economic conditions globally andregionally; 22) exchange rate fluctuations, including, in particular,fluctuations between the euro, which is our reporting currency, and the USdollar, the Japanese yen and the Chinese yuan, as well as certain othercurrencies; 23) our ability to protect the technologies, which we or othersdevelop or that we license, from claims that we have infringed third parties'intellectual property rights, as well as our unrestricted use on commerciallyacceptable terms of certain technologies in our products and services; 24) 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;25) 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; 26) any disruption to information technologysystems and networks that our operations rely on; 27) unfavorable outcome oflitigations; 28) allegations of possible health risks from electromagneticfields generated by base stations and mobile products and lawsuits related tothem, regardless of merit; 29) our ability to achieve targeted costs reductionsand increase profitability in Nokia Siemens Networks and to effectively andtimely execute related restructuring measures; 30) Nokia Siemens Networks'ability to maintain or improve its market position or respond successfully tochanges in the competitive environment; 31) Nokia Siemens Networks' liquidityand its ability to meet its working capital requirements; 32) whether NokiaSiemens Networks' acquisition of the majority of Motorola's wireless networkinfrastructure assets will be completed in a timely manner, or at all, and, ifcompleted, whether Nokia Siemens Networks is able to successfully integrate theacquired business, cross-sell its existing products and services to customersof the acquired business and realize the expected synergies and benefits of theplanned acquisition; 33) Nokia Siemens Networks' ability to timely introducenew products, services, upgrades and technologies; 34) Nokia Siemens Networks'success in the telecommunications infrastructure services market and NokiaSiemens Networks' ability to effectively and profitably adapt its business andoperations in a timely manner to the increasingly diverse service needs of itscustomers; 35) developments under large, multi-year contracts or in relation tomajor customers in the networks infrastructure and related services business;36) the management of our customer financing exposure, particularly in thenetworks infrastructure and related services business; 37) whether ongoing orany additional governmental investigations into alleged violations of law bysome former employees of Siemens AG may involve and affect the carrier-relatedassets and employees transferred by Siemens AG to Nokia Siemens Networks; 38)any impairment of Nokia Siemens Networks customer relationships resulting fromongoing or any additional governmental investigations involving the Siemenscarrier-related operations transferred to Nokia Siemens Networks; as well asthe risk factors specified on pages 12-39 of Nokia's annual report Form 20-Ffor the year ended December 31, 2010 under Item 3D. 'Risk Factors.' Otherunknown or unpredictable factors or underlying assumptions subsequently provingto be incorrect could cause actual results to differ materially from those inthe forward-looking statements. Nokia does not undertake any obligation topublicly update or revise forward-looking statements, whether as a result ofnew information, future events or otherwise, except to the extent legallyrequired. Media Enquiries: Nokia CommunicationsTel. +358 7180 34900Email: [email protected] www.nokia.comNews Source: NASDAQ OMX 27.04.2011 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: 781Time of Receipt: Apr 27, 2011 10:15:12 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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