Nokia Corporation Profile

Nokia Corporation
Company Profile
Publication Date: 30 Sep 2010
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Nokia Corporation
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Nokia Corporation
TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview..............................................................................................4
Key Facts...............................................................................................................4
Business Description...........................................................................................5
History...................................................................................................................8
Key Employees...................................................................................................13
Key Employee Biographies................................................................................14
Major Products and Services............................................................................21
Revenue Analysis...............................................................................................23
SWOT Analysis...................................................................................................25
Top Competitors.................................................................................................31
Company View.....................................................................................................32
Locations and Subsidiaries...............................................................................42

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Nokia Corporation
Company Overview
COMPANY OVERVIEW
Nokia is a leading provider of mobile devices, telecom equipments, and mobile content services.
The company's offerings include basic and high end mobile devices, telecom network equipment
and related services, and software and services. It provides network equipment and related services
through a joint venture with Siemens, Nokia Siemens Networks. Its other major subsidiaries include
NAVTEQ, a provider of digital map information and related location based content and services, and
Symbian, the developer and licenser of Symbian open source operating system for mobile devices.
The company primarily operates in Asia and Europe. It is headquartered in Finland and employs
about 123,600 people.
The company recorded revenues of E40,984 million ($57,157.5 million) during the financial year
ended December 2009 (FY2009), a decrease of 19.2% over FY2008. The operating profit of the
company was E1,197 million ($1,669.4 million) in FY2009, a decrease of 75.9% over FY2008. Its
net profit was E891 million ($1,242.6 million) in FY2009, a decrease of 77.7% over FY2008.
KEY FACTS
Head Office Nokia Corporation

Keilalahdentie 2-4
Espoo 02150
FIN
Phone 358 7180 08000
Fax 358 7180 34003
Web Address http://www.nokia.com
Revenue / turnover 40,984.0
(EUR Mn)
Financial Year End December
Employees 123,553
New York Ticker NOK
Frankfurt Ticker NOA3
Helsinki Stock NOK1V
Exchange Ticker

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Business Description
BUSINESS DESCRIPTION
Nokia is one of the leading manufacturers of mobile devices and network equipments. The company
offers a wide range of mobile devices for music, navigation, video, television, imaging, games, and
business mobility. It also provides equipment and services for communications networks through
Nokia Siemens Networks, a joint venture between Nokia and Siemens formed by combining Nokia's
carrier networks business, and Siemens's carrier related operations for fixed and mobile networks.
The company also offers digital map information and related location based content and services
through its subsidiary, NAVTEQ, and open source operating system for mobile devices, Symbian,
though subsidiary Symbian Limited. The company operates in more than 150 countries.
The company manages its operations across three operating segments: devices and services, Nokia
Siemens Networks, and NAVTEQ.
The devices and services segment develops and manages the company’s portfolio of mobile devices
as well as designs and develops services, including applications and content. The segment also
manages the company’s supply chains, sales channels, brand and marketing activities for mobile
devices and services and their combinations, and explores corporate strategic and future growth
opportunities for Nokia. The company’s portfolio of mobile devices and services encompass across
three categories, including mobile phones, smartphones and mobile computers.
The mobile phones sub-unit includes the company’s portfolio of mobile devices that are powered
by the Series 30 and Series 40 software platforms. The Series 30 software platform powers the
cost-effective voice and messaging phones, which have voice capability, basic messaging and
calendar features, and, increasingly, color displays, radios, basic cameras and Bluetooth functionality.
It does not facilitate application development by third parties. The Series 40 software platform powers
the majority of the company’s mobile phone models and supports more functionalities and applications,
such as internet connectivity. It is open to third-party developers to build Java and Adobe Flash Lite
applications and content, which they can make available through Ovi Store, Nokia’s shop for
applications and content. Applications and content for Series 40 based devices include games,
video, wallpapers, ringtones and social networking applications.
In addition, Nokia also offers a range of services that can be accessed with the Series 30 and Series
40 software platforms. Example of these services include Nokia Life Tools, which enables consumers
to access timely and relevant agricultural information, as well as education and entertainment
services, without requiring the use of GPRS or internet connectivity. For the users of Nokia Series
40 powered mobile phones, the company also offers Ovi Mail, a free email service designed especially
for users in emerging markets with internet-enabled devices. During 2009, the company also
introduced Nokia Money, a new mobile financial service.
The company’s smartphones category consists of its portfolio of mobile devices powered by Symbian,
as well as the services and accessories Nokia sells with them. Symbian supports an array of

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Nokia Corporation
functionalities, and provides opportunities for the development of sophisticated applications and
content by third parties. All of the Nokia’s smartphones can access a range of Ovi services.
The mobile computers sub-unit addresses the market for high performance, high end compact
computing devices, as well as includes the services and accessories it sells with them. During 2009,
the company began shipments of the Nokia N900, based on Maemo 5, the latest version of the
Linux-based Maemo software platform. Following an agreement between Nokia and Intel in early
2010, Maemo is being merged with Intel’s Moblin software platform to form a single Linux-based
and fully open source platform, MeeGo, for a wide range of computing devices, including pocketable
mobile computers, net books, tablets, media-phones, connected TVs and in-vehicle infotainment
systems.
Nokia Siemens Networks provides mobile and fixed network infrastructure, communications and
networks service platforms, as well as professional services, to operators and service providers. It
consists of three business units: business solutions; global services; and network systems.
The business solutions unit includes consulting and systems integration; operations and business
software, which provides network and service management software and charging and billing
software; and subscriber database management businesses.
Global services business offers operators a range of professional services and network implementation
and turnkey solutions. It consists of three businesses: managed services ranging from network
planning and optimization to network operations; care services ranging from software and hardware
maintenance, proactive and multivendor care to competence development services; and network
implementation ranging from project management to turnkey implementations and energy efficient
sites.
Network systems unit focuses on providing both fixed and mobile network infrastructure, including
Nokia Siemens Networks’s Flexi base stations, core products, optical transport systems and
broadband access equipment. For wireless networks, the unit develops global system for mobile
communication (GSM), enhanced data rates for global evolution (EDGE) and wideband code division
multiple access / high-speed packet access (WCDMA/HSPA) radio access networks for operators
and network providers. It also develops new technologies such as internet-HSPA (I-HSPA) and
long-term evolution (LTE) to support the uptake of mobile data services and introduce flat architecture
for wireless and mobile broadband applications. The main products are base stations and base
station controllers.
For fixed line networks, Network systems focuses on transport networks, which are the underlying
infrastructure for all fixed and mobile networks. It also provides the fundamental elements for
high-speed transmission via optical and microwave networks, including packet oriented technologies
such as Ethernet and traditional protocols such as time-division multiplexing (TDM). The business
unit also provides a portfolio for the wire line connectivity area such as digital subscriber line access
multiplexers, and narrowband/multiservice equipment. It also develops core network solutions,
including switches and different kinds of network servers and media gateways, for mobile and fixed
network operators.

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NAVTEQ provides digital map information and related location-based content and services for
automotive navigation systems, mobile navigation devices, internet-based mapping applications,
and government and business solutions. In January 2010, the company introduced a new version
of Ovi Maps for its smartphones which includes high-end navigation using NAVTEQ’s digital map
information and related location based content. This new version of Ovi Maps includes high-end car
and pedestrian navigation features, such as turn-by-turn voice guidance for 74 countries, in 46
languages, and traffic information for more than 10 countries, as well as detailed maps for more
than 180 countries.

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Nokia Corporation
History
HISTORY
Nokia Corporation was established in 1967 as a company under the laws of the Republic of Finland.
This was the result of the merger of three Finnish companies: Nokia, a wood-pulp mill founded in
1865; Finnish Rubber Works, a manufacturer of rubber boots, tires and other rubber products founded
in 1898; and Finnish Cable Works, a manufacturer of telephone and power cables founded in 1912.
Nokia entered the telecommunications equipment market in 1960, when an electronics department
was established at Finnish Cable Works to concentrate on the production of radio transmission
equipment.
The company introduced the first fully digital local telephone exchange in Europe in 1982. In the
same year, Nokia introduced the world's first car phone for the Nordic Mobile Telephone analogue
standard. Nokia was listed on the major stock exchanges like London in 1987 and Frankfurt in 1988.
According to Nokia, the first GSM call was made with a Nokia phone over the Nokia built network
of a Finnish operator called Radiolinja in 1991. In the same year, Nokia won contracts to supply
GSM networks in other European countries. In early 1990s, the company made a strategic decision
to make telecommunications as a core business and divested basic businesses to form two main
business groups: Nokia mobile phones and Nokia networks.
Nokia was listed on the New York Stock Exchange in 1994. In the same year, the company launched
mobile phones for all major digital systems: GSM, GSM 1800 (PCN), and TDMA. It added CDMA
and GSM 1900 mobile phones in 1997. Two years later, Nokia launched the first WAP handset to
the global mass market in the form of Nokia 7110. The company acquired DiscoveryCom, a provider
of broadband digital subscriber line (DSL) services in 2000. In the following year, the company
acquired Ramp Networks, a US based provider of purpose built internet security appliances,
specifically designed for small office applications. Later in the year, it acquired Amber Networks, a
US based networking infrastructure company that develops fault tolerant routing platforms.
Subsequently, Nokia and Sony collaborated to develop an open middleware platform.
In 2002, Nokia acquired a stake in Redback Networks, a US based provider of subscriber management
and optical platforms that enable carriers and service providers to construct next generation broadband
networks. In the following year, the company launched the world's first TDMA handset with a full-color
display.The company also reached an agreement with IBM to collaborate on the delivery of enterprise
wireless eBusiness solutions. Subsequently, Nokia's stock was de-listed from the London Stock
Exchange.
In 2004, the company took control of Symbian, a developer of operating systems for smart-phones.
Subsequently, it increased its shareholding in Symbian to 63% after paying Psion approximately
£130 million for its stake. In the same year, Nokia's shares were de-listed from Paris Stock Exchange.
Also in 2004, the company reorganized into four business groups namely mobile phones, multimedia,
enterprise solutions and networks to further align the company's overall structure with its strategy.

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History
Nokia sold its professional mobile radio business including TETRA infrastructure and terminals to
EADS, a defense and space company, in 2005. In 2006, the company acquired Intellisync, a provider
of platform-independent wireless messaging and applications for mobile devices, for a cash
consideration of approximately E368 million. Subsequently, the company inaugurated its
manufacturing facility in Sriperumbudur, Chennai, India. This made Nokia the only company in India
who manufactured both the mobile devices and network infrastructure equipments.
Also in 2006, the company reinforced its commitment to the Middle Eastern and African market by
opening a new office in Beirut. Nokia continued its acquisition spree by acquiring companies which
include LCC International's US deployment business; Loudeye, a provider of digital music platforms
and digital media distribution services; and gate5, a supplier of mapping, routing and navigation
software and services. Subsequently, Motorola and Nokia announced an agreement for interoperability
among their Digital Video Broadcast-Handheld (DVB-H) enabled mobile devices and network services.
Also in 2006, Nokia along with Citigroup, MasterCard Worldwide, and Cingular Wireless (now AT&T)
started a consumer technology trial of Near Field Communication (NFC) enabled mobile phones
with MasterCard PayPass contact-less payment capability in New York City. Subsequently, Giesecke
& Devrient (G&D) and Nokia formed a joint venture company, Venyon, which is 57% owned by G&D
and 43% owned by Nokia.
In 2007, Nokia's Swedish Depository Receipts (SDRs) were delisted from the Stockholm Stock
Exchange, due to their decreased trading volumes. Subsequently, Nokia Siemens Networks (NSN),
new company jointly owned by Nokia and Siemens which comprises Nokia's networks business and
Siemens' carrier related operations for fixed and mobile networks, started operating as a
communications infrastructure services provider. In the same year, the company acquired the assets
of Twango (www.Twango.com), a provider of media sharing solutions; Enpocket, a provider of mobile
advertising related services; and Avvenu, a provider of internet services that support mobile workers.
Also in 2007, Nokia issued a product advisory on an issue related to the overheating of Nokia-branded
BL-5C battery manufactured by Matsushita Battery Industrial of Japan between December 2005
and November 2006. The company announced that there were approximately 100 incidents of
overheating reported globally and it recalled approximately 46 million batteries manufactured by
Matsushita. In same year, Nokia and STMicroelectronics entered into an agreement to transfer
Nokia's IC operations to STMicroelectronics for manufacturing the 3G chipsets.
The company announced plans to discontinue the production of mobile devices in Germany in 2008.
As part of these plans, it closed its Bochum site by mid-2008, and moved its manufacturing facilities
to other cost-competitive places in Europe. Subsequently, the company started negotiations to divest
its automotive business to the former head of Nokia's enhancements unit and automotive business
and some equity partners. In the beginning of 2008, the company launched 'N-Gage' gaming service
along with 'Share on Ovi', a media sharing site. Subsequently, Nokia introduced its first GPS-enabled
mobile device, Nokia 6210 Navigator with an integrated compass for pedestrian guidance and Nokia
Maps 2.0. The company also opened a satellite design studio in Rio de Janeiro as part of this.
Subsequently, Nokia Siemens Networks acquired UK-based subscriber-centric network specialist,
Apertio for approximately E140 million ($192 million).

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History
In 2008, a UK High Court judge issued a ruling in favor of Nokia in a litigation issue between
Qualcomm and Nokia. The ruling determined that all of Qualcomm's asserted GSM patent claims
are invalid. Subsequently, Nokia signed a strategic partnership agreement with China Postel to
purchase mobile devices valued at approximately $2 billion. In addition, the two companies also
agreed to strengthen strategic ties related to channel development, resource investment, and
marketing management.
Nokia completed the divesture of its Identity Systems, a provider of enterprise software development
for identity resolution, to Informatica in 2008. During the same year, the company completed the
transfer of its line fit automotive business in Bochum and Dusseldorf, Germany, and Detroit, the US
to novero. Subsequently, Nokia completed acquisition of Trolltech, a software provider with software
development platforms and frameworks. In the same year, Nokia acquired NAVTEQ, a provider of
digital map information; and Plazes (www.plazes.com), a privately-owned start-up company of 13
people with its principal operations in Berlin. Subsequently, Nokia and Qualcomm entered into a
new agreement resulting in settlement of all litigation between the companies, including the withdrawal
by Nokia of its complaint to the European Commission. At the end of 2008, the company acquired
OZ Communications, a provider of consumer email and instant messaging. Subsequently, it
established a research laboratory in the Hollywood area of California. Also, in the same year, Nokia
acquired Symbian Limited, the developer and licenser of Symbian open operating system for mobile
devices.
In February 2009, Nokia acquired bit-side, a privately owned Berlin-based professional services and
software company. Subsequently, Adobe and Nokia announced a $10 million open screen project
fund designed to help developers create applications and services for mobile, desktop and consumer
electronics devices using the Adobe Flash Platform. Two months later, Nokia introduced Nokia Point
& Find, a new service concept that enables people on the move to access relevant information and
services on the internet, by pointing their mobile phone camera at real-life objects. Subsequently,
the company divested its security appliance business to Check Point Software Technologies.
In May 2009, Gemalto, Microsoft, Nokia and Philips announced an initiative to address the
fundamental societal issue of trust in new and emerging digital services. Subsequently, Nokia
expanded its global research laboratories by opening a Nokia Research Center at Berkeley, California.
In June 2009, NSN entered into an agreement to purchase Nortel's LTE and CDMA assets.
Subsequently, Intel and Nokia entered into a long-term relationship to develop Intel Architecture-based
mobile computing device and chipset architectures.
In August 2009, the company acquired certain assets of cellity, a privately owned mobile software
company. In the same month, Microsoft and Nokia formed a global alliance to design, develop and
market mobile productivity solutions. Subsequently, the company introduced Nokia Money, a new
mobile financial service offering consumers with mobile device access to basic financial services.
In the following month, Nokia acquired certain assets of Plum Ventures, a privately held company
which develops and operates a cloud-based social media sharing and messaging service for private
groups. In the same month, the company also acquired Dopplr, a privately-held mobile service
provider for international travelers.

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History
Accenture acquired Nokia's Symbian Professional Services unit responsible for Symbian OS customer
engineering and customer support in October 2009. In the same month, the company filed a complaint
against Apple with the Federal District Court in Delaware, alleging that Apple's iPhone infringes
Nokia patents for GSM, UMTS and wireless LAN (WLAN) standards. Subsequently, the company
launched the Nokia 6788, its first device for TD-SCDMA, China's domestic 3G standard.
The company initiated a charger exchange program, in which consumers owning certain
Nokia-branded chargers manufactured by a third-party supplier are recommended to exchange
these chargers for free replacements in November 2009. In the same month, Nokia announced
plans to reduce some of its R&D activities in Finland and Denmark.
In the following month, Giesecke & Devrient acquired the shares held by Nokia in Venyon.
Subsequently, Nokia joined forces with New Alliance, an investment company which is part of the
Shanghai Alliance Investment, to form a 50/50 joint venture company, Nokia Alliance Internet Services,
to offer a range of mobile services in China and support the local developer ecosystem. Subsequently,
the company filed a complaint with the US International Trade Commission (ITC) alleging that Apple
infringes Nokia patents in virtually all of its mobile phones, portable music players, and computers.
In February 2010, Nokia and Pearson, the world's leading education company, formed a joint venture,
Beijing Mobiledu Technologies, to accelerate the growth of Mobiledu, the premier mobile
phone-delivered education service, developed by Nokia in China. In the same month, Original1, a
joint venture of SAP, Nokia and Giesecke & Devrient, began its operations. Original1 provides product
authentication and anti-counterfeiting services across the globe. Subsequently, Intel and Nokia
merged Moblin and Maemo to create MeeGo, a Linux-based software platform that will support
multiple hardware architectures across a range of device segments.
The company acquired MetaCarta, a provider of geographic intelligence solutions, in April 2010. In
the same month, Nokia acquired Novarra, a privately-held company based in Chicago, Illinois that
provides mobile browsers and service platforms.
In the following month, Nokia launched Ovi Life Tools (Nokia Ovi Sheng Huo Tong), which offers a
range of information services covering healthcare, agriculture, education and entertainment, in China.
Subsequently, the company filed a complaint against Apple with the Federal District Court in the
Western District of Wisconsin, alleging that Apple iPhone and iPad 3G products infringe five important
Nokia patents. Also, in the same month, Yahoo! and Nokia formed a strategic alliance to offer
integrated web services.
In July 2010, Renesas Electronics, a supplier of advanced semiconductor solutions, and Nokia
extended their collaboration by forming a strategic business alliance to develop modem technologies
for evolved high-speed packet access / long-term evolution (HSPA+/LTE) and its evolution. As part
of this alliance, the companies entered into an agreement whereby Renesas Electronics will acquire
Nokia's wireless modem business for approximately $200 million. Subsequently, Nokia divested
MetaCarta to Qbase Holdings, a privately held US based company. The company will retain
MetaCarta's geographic intelligence technology, which it is incorporating in its local search and other

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History
services. Also, in the same month, Nokia Siemens Networks signed an agreement to acquire the
majority of Motorola's wireless network infrastructure assets for $1.2 billion in cash.
In the following month, Nokia signed an agreement to acquire Motally, a privately-held US-based
company. Motally's mobile analytics service offers in-application tracking and reporting, and is
designed to enable developers and publishers to optimize the development of their mobile applications
through increased understanding of how users engage. In the same month, the company launched
its first 'Touch and Type' phone, the Nokia X3, with a combination of a touch screen and traditional
12 button phone keypad.

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Key Employees
KEY EMPLOYEES
Name Job Title Board Compensation

Stephen Elop Chairman, President and Chief Executive Board
Executive Officer
Dame Marjorie Scardino Vice Chairman Non Executive Board 150000 EUR
Lalita D. Gupte Director Non Executive Board 140000 EUR
Bengt Holmstrom Director Non Executive Board 130000 EUR
Henning Kagermann Director Non Executive Board 130000 EUR
Per Karlsson Director Non Executive Board 155000 EUR
Isabel Marey-Semper Director Non Executive Board 140000 EUR
Risto Siilasmaa Director Non Executive Board 140000 EUR
Keijo Suila Director Non Executive Board 130000 EUR
Esko Aho Executive Vice President, Corporate Senior Management
Relations and Responsibility
Timo Ihamuotila Executive Vice President and Chief Senior Management 1556571 EUR
Financial Officer
Mary T. McDowell Executive Vice President, Mobile Senior Management
Phones
Tero Ojanpera Executive Vice President, Services, Senior Management
Mobile Solutions
Niklas Savander Executive Vice President, Markets Senior Management
Alberto Torres Executive Vice President, MeeGo Senior Management
Computers, Mobile Solutions
Anssi Vanjoki Executive Vice President and Senior Management
General Manager, Mobile Solutions
Juha Akras Executive Vice President, Human Senior Management
Resources
Kai Oistamo Executive Vice President and Chief Senior Management
Development Officer

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Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
Stephen Elop
Board: Executive Board

Job Title: Chairman, President and Chief Executive Officer
Since: 2010
Age: 46
Mr. Elop has been the Chairman, President and CEO at Nokia since September 2010. Prior to joining
Nokia, he served as the President of Microsoft’s Business division and was a member of Microsoft’s
senior leadership team responsible for strategy. Previously, Mr. Elop was the Chief Operating Officer
at Juniper Networks. Prior to Juniper, he served as the President of worldwide field operations at
Adobe Systems. He joined Adobe following the 2005 acquisition of Macromedia, where he was the
President and CEO. Mr. Elop earned a Bachelor’s degree in Computer Engineering and Management
from McMaster University in Hamilton, Canada, and was subsequently awarded an honorary Doctor
of Laws degree.
Dame Marjorie Scardino
Board: Non Executive Board

Job Title: Vice Chairman
Since: 2007
Age: 63
Ms. Scardino has been the Vice Chairman at Nokia since 2007. She has been a Director at Nokia
since 2001. Ms. Scardino was the CEO at The Economist Group from 1993 to 1997, President of
the North American Operations at The Economist Group from 1985 to 1993, and Publisher at The
Georgia Gazette newspaper from 1978 to 1985. She is also the CEO and Director at Pearson.
Lalita D. Gupte

Job Title: Director
Since: 2007
Age: 62
Ms. Gupte has been a Director at Nokia since 2007. She is also the Chairman at the ICICI Venture
Funds Management. Ms. Gupte was the Joint Managing Director and Member of the Board of
Directors at ICICI Bank from 2002 to 2006; Joint Managing Director and Member of the Board of
Directors at ICICI from 1999 to 2002 (ICICI merged with ICICI Bank in 2002), Deputy Managing
Director at ICICI from 1996 to 1999; and Director at ICICI from 1994 from 1996. She also held various

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Nokia Corporation
leadership positions in Corporate and Retail Banking, Strategy and Resources, and International
Banking in ICICI since 1971. Ms. Gupte is also a Director at Bharat Forge, Kirloskar Brothers, Godrej
Properties, HPCL-Mittal Energy and Swadhaar FinServe.
Bengt Holmstrom

Job Title: Director
Since: 1999
Age: 61
Dr. Holmstrom has been a Director at Nokia since 1999. He is a Paul A. Samuelson Professor of
Economics at MIT. Dr. Holmstrom is Edwin J. Beinecke Professor of Management Studies at Yale
University from 1985 to 1994. He is a Member of the American Academy of Arts and Sciences and
Foreign Member at The Royal Swedish Academy of Sciences, and Member at Aalto University
Foundation Board. Dr. Holmstrom is also Member of the Board of Directors at The Research Institute
of the Finnish Economy ETLA and Finnish Business and Policy Forum EVA.
Henning Kagermann

Job Title: Director
Since: 2007
Age: 63
Dr. Kagermann has been a Director at Nokia since 2007. He was the Chairman and Co-CEO at SAP
from 2008 to 2009. Dr. Kagermann served as the CEO at SAP from 2003 to 2008. He was the
Co-Chairman at SAP from 1998 to 2003. Dr. Kagermann held number of leadership positions in
SAP since 1982 and is Member at SAP Executive Board since 1991. He taught Physics and Computer
Science at the Technical University of Brunswick and the University of Mannheim from 1980 to 1992
and became a Professor in 1985. He is a Member of the Supervisory Boards at Deutsche Bank,
Deutsche Post and Munchener Ruckversicherungs-Gesellschaft. Dr. Kagermann is also a Director
at Wipro.
Per Karlsson

Job Title: Director
Since: 2002
Age: 55
Mr. Karlsson has been a Director at Nokia since 2002. He was the Executive Director of the mergers
and acquisitions advisory responsibilities at Enskilda M&A from 1986 to 1992, and Corporate strategy

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consultant at the Boston Consulting Group (London) from 1979 to 1986. Mr. Karlsson is a Board
Member at IKANO Holdings.
Isabel Marey-Semper

Job Title: Director
Since: 2009
Age: 43
Ms. Marey-Semper has been a Director at Nokia since 2009. She is also the Chief Financial Officer
and Executive Vice President in charge of strategy at PSA Peugeot Citroen. Ms. Marey-Semper
was the Chief Operating Officer of intellectual property and licensing business unit at Thomson from
2006 to 2007. She was the Vice President of Corporate Planning at Saint-Gobain from 2004 to 2005.
Ms. Marey-Semper was a Director of Corporate Planning, High Performance Materials at Saint-Gobain
from 2002 to 2004, and Principle at A.T. Kearney (Telesis, prior to acquisition by A.T. Kearney) from
1997 to 2002. She served as a Director at Faurecia from 2007 to 2009.
Risto Siilasmaa

Job Title: Director
Since: 2008
Age: 44
Mr. Siilasmaa has been a Director at Nokia since 2008. He was the President and CEO at Finnair
from 1988 to 2006. Mr. Siilasmaa is also the Chairman of the Board of Directors at F-Secure, Elisa
and Fruugo. He is also a Member of the Board of Directors at Blyk, Ekahau and Efecte.
Keijo Suila

Job Title: Director
Since: 2006
Age: 65
Mr. Suila has been a Director at Nokia since 2006. He was the President and CEO at Finnair from
1999 to 2005. Mr. Suila served as the Chairman at oneworld airline alliance from 2003 to 2004 and
Member of various international aviation and air transportation associations from 1999 to 2005. He
also held various executive positions, including Vice Chairman and Executive Vice President at
Huhtamaki, Leaf Group and Leaf Europe during 1985–98. Mr. Suila is also the Chairman of the
Board of Directors at Solidium and The Finnish Fair. He was a Member of the Board of Directors at
Kesko from 2001 to 2009 and the Vice Chairman from 2006 to 2009.

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Esko Aho
Board: Senior Management

Job Title: Executive Vice President, Corporate Relations and Responsibility
Since: 2008
Age: 56
Mr. Aho has been the Executive Vice President, Corporate Relations and Responsibility at Nokia
since 2008. Before joining Nokia in 2008, he held a long and distinguished career in government
service. Mr. Aho was the Prime Minister of Finland from 1991 to 1995. After the Presidential campaign
in 2000, he joined Harvard University as a Lecturer, and following his retirement from the Finnish
Parliament, he worked as a Consultant. Currently, he is a Member at International Chamber of
Commerce (ICC) World Council and Vice Chairman at ICC Finland. Mr. Aho also serves as a Board
Member at Technology Academy Finland. He is also a Director at Fortum and also the Vice Chairman
of the Board at Technology Industries of Finland.
Timo Ihamuotila

Job Title: Executive Vice President and Chief Financial Officer
Since: 2009
Age: 44
Mr. Ihamuotila has been the Executive Vice President and Chief Financial Officer at Nokia since
2009. He joined the company in 1993 as a Manager in the Dealing and Risk Management unit. In
1999, after three years away, Mr. Ihamuotila rejoined Nokia as Director of Corporate Finance, and
the following year was named the Vice President, Finance, and Corporate Treasurer. In 2004, he
was appointed as the Senior Vice President of Nokia's CDMA business, based in San Diego,
California. In 2007, Mr. Ihamuotila became the Executive Vice President of sales and portfolio
management in Mobile Phones, and was named Nokia's Head of global sales the following year.
He also serves on the Board at Nokia Siemens Networks. Before joining Nokia, Mr. Ihamuotila
worked as an Analyst for Kansallis Bank in Helsinki and for Citibank as the Vice President of Nordic
derivates sales.
Mary T. McDowell

Job Title: Executive Vice President, Mobile Phones
Since: 2010
Age: 46
Ms. McDowell has been the Executive Vice President, Mobile Phones at Nokia since 2010. She
joined the company in 2004 as the Executive Vice President and General Manager of Enterprise
Solutions. Ms. McDowell served as the Executive Vice President and Chief Development Officer,

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Nokia Corporation
leading the Corporate Development unit, from 2008 until assuming her current role. She also serves
as a Board Member at Autodesk. Before joining Nokia, Ms. McDowell served 17 years at HP-Compaq,
after joining as a systems engineer in 1986.
Tero Ojanpera

Job Title: Executive Vice President, Services, Mobile Solutions
Since: 2009
Age: 44
Mr. Ojanpera has been the Executive Vice President, Services, Mobile Solutions at Nokia since
2009. He joined the company in 1990 and held several senior management positions at Nokia
Networks. During 2003–04, Mr. Ojanpera headed the Nokia Research Center, and was appointed
as the Chief Strategy Officer a year later. From 2006 to 2007, he served as the company’s Executive
Vice President and Chief Technology Officer.
Niklas Savander

Job Title: Executive Vice President, Markets
Since: 2010
Age: 48
Mr. Savander has been the Executive Vice President, Markets at Nokia since 2010. He joined the
company in 1997 and has held several senior positions in business management, strategy, sales
and marketing in both the device and networks businesses. Mr. Savander has served as the Senior
Vice President, Mobile Devices Business Unit, Enterprise Solutions; Executive Vice President,
Technology Platforms, and was in charge of Nokia's Services business, before being named to his
current role. He is also a Board Member at Nokia Siemens Networks and a Board Member and
Secretary at Waldemar von Frenckells Stiftelse. Before joining Nokia, Mr. Savander spent nine years
with Hewlett-Packard in Finland, Germany and Switzerland.
Alberto Torres

Job Title: Executive Vice President, MeeGo Computers, Mobile Solutions
Since: 2010
Age: 45
Mr. Torres has been the Executive Vice President, MeeGo Computers, Mobile Solutions at Nokia
since 2010. He began his Nokia career in 2004, leading the strategy team. In 2005, Mr. Torres
became the President of Vertu. He was appointed as the Senior Vice President, Focused Businesses,

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Nokia Corporation
in 2008, and later led Devices Category Management. Before joining Nokia, he worked for 10 years
at the McKinsey consulting firm in the US and France.
Anssi Vanjoki

Job Title: Executive Vice President and General Manager, Mobile Solutions
Since: 2010
Age: 54
Mr. Vanjoki has been the Executive Vice President and General Manager, Mobile Solutions at Nokia
since 2010. He joined the company in 1991 as the Vice President of sales in the Mobile Phones
unit. In 1994, Mr. Vanjoki became the Senior Vice President, Nokia Mobile Phones Europe and
Africa. He was named Executive Vice President, Nokia Mobile Phones Europe and Africa in 1998.
One year later, Mr. Vanjoki took responsibility for Nokia's Digital Convergence Unit, and in 2002, he
also headed up Business Unit Management. From 2004, Mr. Vanjoki served as the Executive Vice
President and General Manager of Multimedia. He was the General Manager of the Markets unit
from 2008 until assuming his current role. Before joining Nokia, Mr. Vanjoki held a variety of
management positions at 3M.
Juha Akras

Job Title: Executive Vice President, Human Resources
Since: 2010
Age: 45
Mr. Akras has been the Executive Vice President, Human Resources at Nokia since 2010. Prior to
this role, he served as the company’s Senior Vice President, Human Resources from 2006 to 2010.
Mr. Akras started his career at Nokia in 1993 and has held several regional and global roles. He
served in leadership positions spanning business, customer services and marketing before he moved
to Human Resources in 2005.
Kai Oistamo

Job Title: Executive Vice President and Chief Development Officer
Since: 2010
Age: 46
Mr. Oistamo has been the Executive Vice President and Chief Development Officer at Nokia since
2010. He joined the company in 1991 and held several managerial and technical positions at the
former Nokia Consumer Electronics unit. In 1995, Mr. Oistamo was named as the Product Manager,
Nokia Mobile Phones. Two years later, he was promoted to Vice President, TDMA Business Line.

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Nokia Corporation
Mr. Oistamo became the Senior Vice President, Nokia Mobiles Phones, in 2002, before being
appointed as the Executive Vice President and General Manager of Mobile Phones. He later was
appointed to Head Nokia's Devices unit, a position he held until assuming his current role.

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Nokia Corporation
Major Products and Services
MAJOR PRODUCTS AND SERVICES
The company's key products and services include the following:
Devices:
Mobile phones
Smartphones
Mobile computers
Software and services:
Ovi software development kit (SDK)

Ovi Maps Player application programming interface (API)
Ovi Navigation API
Nokia Life Tools
Ovi Mail
Nokia Money
Ovi Maps
Ovi Music
NAVTEQ:
Digital map information

Related location based content and services
Nokia Siemens Networks:
Business solutions
Consulting and systems integration

Operations and business software
Subscriber database management
Global services
Managed services
Software and hardware maintenance
Proactive and multivendor care
Competence development services
Network implementation
Network systems

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Nokia Corporation
Major Products and Services
Flexi base stations

Core products
Optical transport systems
Broadband access equipment
Brands:
Nokia
Ovi
NAVTEQ
Symbian

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Nokia Corporation
Revenue Analysis
REVENUE ANALYSIS
Nokia Corporation
The company recorded revenues of E40,984 million ($57,157.5 million) during the financial year
ended December 2009 (FY2009), a decrease of 19.2% over FY2008. In FY2009, China, the
company's largest geographic market, accounted for 14.6% of the total revenues.
Nokia generates revenues through three business divisions: devices and services (67.9% of the
total revenues in FY2009), Nokia Siemens Networks (30.7%), and NAVTEQ (1.4%).
Revenues by Division
In FY2009, the devices and services division recorded revenues of E27,841 million ($38,827.9
million), a decrease of 20.6% over FY2008.
The Nokia Siemens Networks division recorded revenues of E12,564 million ($17,522.1 million) in
FY2009, a decrease of 17.9% over FY2008.
The NAVTEQ division recorded revenues of E579 million ($807.5 million) in FY2009, an increase
of 82.1% over FY2008.
Revenues by Geography
China, Nokia's largest geographical market, accounted for 14.6% of the total revenues in FY2009.
Revenues from China reached E5,990 million ($8,353.8 million) in FY2009, an increase of 1.3%
over FY2008.
India accounted for 6.9% of the total revenues in FY2009. Revenues from India reached E2,809
million ($3,917.5 million) in FY2009, a decrease of 24.5% over FY2008.
The UK accounted for 4.7% of the total revenues in FY2009. Revenues from the UK reached E1,916
Germany accounted for 4.2% of the total revenues in FY2009. Revenues from Germany reached
E1,733 million ($2,416.9 million) in FY2009, a decrease of 24.5% over FY2008.
The US accounted for 4.2% of the total revenues in FY2009. Revenues from the US reached E1,731
Russia accounted for 3.7% of the total revenues in FY2009. Revenues from Russia reached E1,528
million ($2,131 million) in FY2009, a decrease of 26.6% over FY2008.

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Nokia Corporation
Revenue Analysis
Indonesia accounted for 3.6% of the total revenues in FY2009. Revenues from Indonesia reached
E1,458 million ($2,033.4 million) in FY2009, a decrease of 28.7% over FY2008.
Finland accounted for 1% of the total revenues in FY2009. Revenues from Finland reached E390
million ($543.9 million) in FY2009, an increase of 7.7% over FY2008.
Other accounted for 57.2% of the total revenues in FY2009. Revenues from other reached E23,429
*Note: Total geographic percentage contribution rounded off

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Nokia Corporation
SWOT Analysis
SWOT ANALYSIS
The company's offerings include basic and high-end mobile devices, telecom network equipment
and related services, and software and services. It provides network equipment and related services
through a joint venture with Siemens, Nokia Siemens Networks. Its other major subsidiaries include
NAVTEQ, a provider of digital map information and related location based content and services, and
Symbian, the developer and licenser of Symbian open source operating system for mobile devices.
The company has a strong and highly visible brand, which enables it to command a premium for its
products and differentiate itself from competitors. However, intense competition will continue to put
pressure on the company's operating performance and market share in coming years.
Strengths Weaknesses
Strong brand image Weak high end product portfolio

Significant market position Weak presence in the US
Opportunities Threats
Launch of new services Intense competition

Alliances and partnerships Exchange rate fluctuations
Strategic acquisitions
Demand for 3G and high bandwidth
infrastructure
Strengths
Strong brand image Nokia's core asset is its strong brand image. The company continues to
strengthen its brand equity through various marketing campaigns. Nokia's brand was the fifth most
valued brand in the world according to the top 100 best brands list compiled by InterBrand in 2009,
and was the only mobile phone manufacturer in the top 10 best brands list. The company was also
the leading mobile phone brand in most of the countries it operates. For instance, Nokia was ranked
19 on the list of Asia's Top 1,000 Brands 2010 ranking, published by TNS. In particular, the company
was the Asia Pacific’s top brand in the mobile phone/smartphone sub-category. In addition, Nokia
was the most trusted brand in India according to Brand Equity 'Most Trusted Brands' survey 2009.
A strong and highly visible brand enables the company to command a premium for its products and
differentiate itself from competitors.
Significant market position

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Nokia Corporation
SWOT Analysis
The company has been the leading player in the global mobile devices market since 1998. It had a
global market share of approximately 37% by market volume of 1.2 billion mobile devices units sold
in 2009. The company’s leading position was followed by Samsung (19%), LG (10%), Motorola (5%),
and Sony Ericsson (4%). It also sold 67.8 million converged/smartphone devices in 2009, compared
to 60.6 million in 2008. In 2009, Nokia’s market share of converged mobile devices market was 39%,
followed by RIM (20%) and Apple (15%). Furthermore, the company's various subsidiaries were
also leading players in their respective markets. Symbian operating system for converged devices
was the market leader with a share of over 48% of all converged devices shipped in 2009. Nokia
Siemens Networks was also a leading player in the telecom infrastructure market. NAVTEQ was
also a prominent player in the digital maps and location based services markets.
The company's strong market position, besides enhancing the brand image, provides economies of
scale in operation.
Weaknesses
Weak high-end product portfolio
The company's high-end product portfolio is weak compared to its competitors. The company's
high-end products are mainly offered through the N-series range of multimedia computers. While,
the company's multimedia products feature music players, cameras, pocket computers, gaming
consoles and navigation devices, it lacks appealing touch screen functionally and sleek designs
compared to products of its competitors. The company's traditional competitors, Sony Ericsson and
Motorola, have touch screen products and Apple emerged as a major competitor with the launch of
iPhone, which boasts of features such as 3G and touch screen. Furthermore, competition in this
market is increasing with Research In Motion (RIM), Samsung and HTC introducing touch screen
handsets. Nokia also faces significant price competition in this market as phones are being offered
at lower price or free, when purchased with a contract. Moreover, Apple also launched its iPhone 4
in mid 2010, which was sold over 1.7 million units in three days of its launch, and other competitors
also launched their latest models.
Nokia launched its flagship phone, Nokia N97 multimedia computers, in mid 2009, with touch screen,
full QWERTY keyboard, GPS, 32 GB memory, games, video, camera, and full access to Ovi Store.
However, industry sources viewed that this phone was not on par with competitors' products. Although,
the company expanded its touchscreen-enabled smartphones portfolio in recent times, it still lags
behind its competitor’s products.
Despite being a leader with a market share of 39% in the smartphones segment in 2009, the
company's market share declined from 44% in 2008. At the same time, RIM's market share grew
from 16.6% in 2008 to 20% in 2009 and Apple's market share reached 14% from 8% in 2008.
Additionally, Nokia's weak high-end product portfolio has made it dependent on entry level devices
for most of its revenues. As a result, the company's mobile device average selling price (ASP)
declined from E86 ($120) in 2007 to E74 ($103.2) in 2008 and E63 ($87.9) in 2009. In the second

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Nokia Corporation
SWOT Analysis
quarter of FY2010, its ASP further declined to E61 ($85.1). Although, industry ASPs also declined
during the period, Nokia's high dependence on entry level devices continued to affect its ASP.
The company's weak high-end products will continue to affect its competitive position and operating
performance, as the demand for these products continues to increase.
Weak presence in the US
The company has a weak presence in the US market compared to its peers. Despite sluggish macro
economic signs, the US continues to be significant market for mobile devices. Nokia has a relatively
weak presence in the US compared to its competitors. The company generated about 4.2% (E1,731
million or $2,414.1 million) of its total revenues from the US in FY2009. By contrast, the company's
key competitor, Motorola, generated about $11,834 million of its total revenues from the US in 2009.
RIM, another competitor of the company, reported revenues of about $8,619.8 million from the US
for the financial year ending February 2010.
Nokia's weak presence in the US will affect its market share and growth in coming years.
Opportunities
Launch of new services
Nokia has launched many new services in recent times. During FY2009, the company introduced
Nokia Money, a new mobile financial service. The service is targeted to be rolled out gradually to
selected markets in 2010 and will be operated in cooperation with Obopay, a leading developer of
mobile payment solutions, in which Nokia has invested. Through the service, people will be able to
use their mobile device to manage their personal finances, pay for products or services, as well as
add credit to their mobile account. In February 2010, Nokia in partnership with YES BANK commenced
a commercial pilot of Nokia Money in Pune, one of the largest metropolitan areas in India.
In May 2010, the company launched Ovi Life Tools (Nokia Ovi Sheng Huo Tong), which offers a
range of information services covering healthcare, agriculture, education and entertainment, in China.
Launch of new innovative services will enable the company to enhance its customer base thereby
increasing its revenues in the coming years.
Alliances and partnerships
The company has formed many alliances and partnerships in recent times. In July 2010, Renesas
Electronics, a supplier of advanced semiconductor solutions, and Nokia extended their collaboration
by forming a strategic business alliance to develop modem technologies for evolved high-speed
packet access / long-term evolution (HSPA+/LTE) and its evolution. In April 2010, Yahoo! and Nokia
formed a strategic alliance to offer integrated web services.

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Nokia Corporation
SWOT Analysis
In February 2010, Nokia, SAP and Giesecke & Devrient formed a new company, Original1, which
provides product authentication and anti-counterfeiting services across the globe. In the same month,
Intel and Nokia merged Moblin and Maemo to create MeeGo, a Linux-based software platform that
will support multiple hardware architectures across a range of device segments. In addition, in
December 2009, Nokia joined forces with New Alliance, an investment company which is part of the
Shanghai Alliance Investment, to form a 50/50 joint venture company, Nokia Alliance Internet Services
Company, to offer a range of mobile services in China and support the local developer ecosystem.
In June 2009, Intel and Nokia entered into a long-term relationship to develop Intel Architecture-based
mobile computing device and chipset architectures.
Such alliances and partnerships further enhance the company’s portfolio of offerings.
Strategic acquisitions
The company made several strategic acquisitions in the recent years to enhance its offerings. In
August 2009, Nokia acquired certain assets of cellity, a privately owned mobile software company.
The acquisition strengthens the company’s position in the area of social networking. In September
2009, Nokia acquired certain assets of Plum Ventures, a privately held company which develops
and operates a cloud-based social media sharing and messaging service for private groups. In the
same month, the company also acquired Dopplr, a privately-held mobile service provider for
international travelers.
Nokia acquired MetaCarta, a provider of geographic intelligence solutions, in April 2010. In the same
month, Nokia acquired Novarra, a privately-held company based in Chicago, Illinois that provides
mobile browsers and service platforms. The company, through this acquisition, intends to use
Novarra's mobile browser and services platform to deliver enhanced internet experiences on its
Series 40 mobile phones. In addition, in August 2010, Nokia signed an agreement to acquire Motally,
a privately-held US-based company. Motally's mobile analytics service offers in-application tracking
and reporting, and is designed to enable developers and publishers to optimize the development of
their mobile applications through increased understanding of how users engage. This acquisition
enables the company to further enhance in-application and mobile web browsing analytics to its Ovi
services.
The company's strategic acquisitions enhance its offering and enable it to record revenue growth
from new offerings, while providing competitive advantage.
Demand for 3G and high bandwidth infrastructure
The demand for third generation (3G) and high bandwidth infrastructure, which allows high bandwidth
applications, is expected to increase with the growing need for advanced data and video services.
The 3G technology allows services providers to provide a host of services including high speed
mobile broadband, mobile TV, and mobile video on-demand (VoD), among others. As the traditional
voice revenues of mobile operators are being hit by changing tariffs, increasing competition and
alternative technology, among other factors, operators are migrating to 3G services to facilitate stable

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Nokia Corporation
SWOT Analysis
or increasing average revenue per user (ARPU). As a result, the worldwide 3G penetration rates
are forecast to increase in coming years.
For instance, the 3G penetration rates in advanced economies such as the US are forecast to
increase from nearly 43% in 2009 to over 60% by 2013. Similarly, the 3G penetration in Asia-Pacific
is expected to reach 40% by 2014. Further, worldwide mobile TV subscribers are forecast to grow
at a CAGR of about 45%, reaching about 450 million by 2013. Moreover, the number of fixed and
mobile broadband subscriptions is forecast to reach about 3.5 billion in 2014, compared to about
1.1 billion in 2009. Further, the broadband associated services such as IPTV subscriptions are also
expected to grow robustly in the near future. For example, the number of IPTV subscribers in the
US will reach about 15.5 million subscribers by 2013, compared to 5 million in 2009.
Nokia Siemens Networks, the company’s joint venture with Siemens, is one of the leading providers
of network infrastructure products. It provides mobile and fixed network infrastructure, communications
and networks service platforms, as well as professional services, to operators and service providers.
In addition, in July 2010, Nokia Siemens Networks signed an agreement to acquire the majority of
Motorola's wireless network infrastructure assets for $1.2 billion in cash. The acquisition will enhance
position of Nokia Siemens Networks in key wireless technologies besides giving it a larger global
footprint in CDMA.
Increasing demand for 3G and high bandwidth infrastructure will enhance sales of Nokia Siemens
Networks’ solutions in future.
Threats
Intense competition
Nokia faces intense competition in all the segments of the communications market it operates. In
the low-end mobile devices segment, the company has been facing competition South Korean mobile
device companies such as LG and Samsung, while it continues to compete with Motorola and Sony
Ericsson, among others. In the high end mobile devices/smartphones segment, the company is
facing intense competition from Apple, RIM, HTC, and Samsung. Additionally, it is also facing
competition from mobile network operators offering mobile phones under their own brand.
In map and related location based information business, the company’s major competitors include
Google, TomTom, and numerous governmental and quasigovernmental mapping agencies that
license map data for commercial use, as well as many local competitors in geographic areas outside
of North America and Europe. In the telecom infrastructure market, the company's joint venture,
Nokia Siemens Networks, continues to face intense competition from other players. Some of its
major competitors in this area include Huawei, ZTE, Alcatel Lucent, Ericsson, Cisco, Motorola and
NEC. In telecom infrastructure services market, Nokia competes with Ericsson, Accenture, HP, IBM,
Fujitsu, Juniper, Samsung and Tellabs.

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Nokia Corporation
SWOT Analysis
Intense competition has affected the company's market share and revenues, as well as the prices
in recent times. This will continue to put pressure on the company's operating performance and
market share in coming years.
Exchange rate fluctuations
The company operates in more than 150 countries across Europe, Americas and Asia Pacific and
is exposed to risk from changes in foreign currency rates. Nokia’s business and results of operations
are from time to time affected by changes in exchange rates, particularly between the Euro, the
company’s reporting currency, and other currencies such as the US dollar, the Japanese yen and
the Chinese yuan. In 2009, until the end of February the US dollar appreciated against the Euro by
6%. After that, the US dollar depreciated by 12% and at the end of 2009 was 6.6% weaker than at
the end of 2008. The weaker US dollar towards the end of 2009 had a negative impact on the
company’s net sales expressed in Euro as approximately 45% of Nokia’s net sales are generated
in US dollars and currencies closely following the US dollar.
In addition, in 2009, until the end of January the Japanese yen appreciated by 4.9% against the
Euro. After that, the Japanese yen depreciated and ended 5.5% weaker at the end of year than at
the end of previous year. In 2009, the Brazilian real appreciated 26.5% against the Euro. The Chinese
yuan, Russian ruble and India rupee depreciated 6.7%, 3.8% and 2.7%, respectively, against the
Euro. In general, the depreciation of an emerging market currency has a negative impact on Nokia’s
operating profit due to reduced revenue in Euro terms and/or the reduced purchasing power of
customers in the emerging market.
Exchange rate fluctuations may affect the company's results and financial condition. In addition,
significant changes in exchange rates may also impact the company’s competitive position and
related price pressures through their impact on its competitors.

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Nokia Corporation
Top Competitors
TOP COMPETITORS
The following companies are the major competitors of Nokia Corporation
Motorola, Inc.
NEC Corporation
Nortel Networks Corporation
Sony Ericsson Mobile Communications AB
Huawei Technologies Co. Ltd.
Cisco Systems, Inc.
Hewlett-Packard Company
Juniper Networks, Inc.
LG Electronics Inc.
Alcatel-Lucent
Research In Motion Limited
Tellabs, Inc.
TomTom N.V.
Fujitsu Limited
Accenture Ltd
LM Ericsson Telephone Company
Google Inc.
HTC Corporation
International Business Machines Corporation
Microsoft Corporation
Samsung Electronics Co., Ltd.
Apple Inc.
ZTE Corporation

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Nokia Corporation
Company View
COMPANY VIEW
An excerpt from the 'Review by the Board of Directors' section is given below. The statement has
been taken from the company's annual review report for FY2009 is given below.
In 2009, Nokia’s net sales decreased 19% to E40,984 million (E50,710 million in 2008). Net sales
of Devices & Services for 2009 decreased 21% to E27,853 million (E 35,099 million). Net sales of
NAVTEQ* were E670 million in 2009 (E361 million for the six months ended December 31, 2008).
Net sales of Nokia Siemens Networks decreased 18% to E12,574 million (E15,309 million).
In 2009, Europe accounted for 36% (37%) of Nokia’s net sales, Asia-Pacific 22% (22%), Greater
China 16% (13%), Middle East & Africa 14% (14%), Latin America 7% (10%), and North America
5% (4%).The 10 markets in which Nokia generated the greatest net sales in 2009 were, in descending
order of magnitude, China, India, the UK, Germany, the United States, Russia, Indonesia, Spain,
Brazil and Italy, together representing approximately 52% of total net sales in 2009. In comparison,
the 10 markets in which Nokia generated the greatest net sales in 2008 were China, India, the UK,
Germany, Russia, Indonesia, the United States, Brazil, Italy and Spain, together representing
approximately 50% of total net sales in 2008.
Nokia’s gross margin in 2009 was 32.4%, compared to 34.3% in 2008. Nokia’s 2009 operating profit
decreased 76% to E1,197million, compared with E4,966 million in 2008. Nokia’s 2009 operating
margin was 2.9% (9.8%). Nokia’s operating profit in 2009 included purchase price accounting items
and other special items of net negative E2,306 million (net negative E2,067 million). Devices &
Services operating profit decreased 43% to E3,314 million, compared with E5,816 million in 2008,
with a reported operating margin of 11.9% (16.6%). Devices & Services operating profit in 2009
included special items of negative E174 million (net negative E557 million). NAVTEQ’s operating
loss in 2009 was E344 million with a reported operating margin of –51.3% compared to an operating
loss of E153 million, for the six months ended on December 31, 2008 representing an operating
margin of –42.4%. NAVTEQ’s operating loss in 2009 included purchase price accounting items and
other special items of negative E465 million (net negative E235 million). Nokia Siemens Networks
had an operating loss of E1,639 million, compared with a E301 million operating loss in 2008,
representing an operating margin of –13.0% (–2.0%). Nokia Siemens Networks operating loss in
2009 included purchase price accounting items and other special items, including E908 million
impairment of goodwill, of net negative E1,667 million (net negative E1,058 million).
In 2009, Nokia’s net sales and profitability were negatively impacted by the deteriorated global
economic conditions, including weaker consumer and corporate spending, constrained credit
availability and currency market volatility. The demand environment, in particular for mobile devices,
improved during the latter part of the year as the global economy started showing initial signs of
recovery.
Reported research and development expenses were E5,909 million in 2009, down 1% from E5,968
million in 2008. Research and development costs represented 14.4% of Nokia net sales in 2009, up

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Nokia Corporation
Company View
from 11.8% in 2008. Research and development expenses included purchase price accounting
items and other special items of E564 million in 2009 (E550 million in 2008). At December 31, 2009,
Nokia employed 37,020 people in research and development, representing approximately 30% of
the group’s total workforce, and had a strong research and development presence in 16 countries.
In 2009, Nokia’s selling and marketing expenses were E3,933 million, compared with E4,380 million
in 2008. Selling and marketing expenses for Nokia represented 9.6% of its net sales in 2009 (8.6%).
Selling and marketing expenses included purchase price accounting items and other special items
of E413 million in 2009 (E341 million).
Administrative and general expenses were E1,145 million in 2009 compared to E1,284 million in
2008. Administrative and general expenses were equal to 2.8% of net sales in 2009 (2.5%).
Administrative and general expenses included special items of E103 million in 2009 (E163 million).
Group Common Functions expenses totaled E134 million in 2009, compared to E396 million in 2008.
Expenses in 2008 included a E217 million loss due to transfer of Finnish pension liabilities.
Net financial expense was E265 million in 2009 (E2 million).
Profit before tax and minority interests was E962 million (E4,970 million in 2008). Profit was E260
million (E3,889 million), based on a profit of E891 million (profit of E3,988 million) attributable to
equity holders of the parent and a negative E631 million (negative E99 million) attributable to minority
interests. Earnings per share decreased to E0.24 (basic) and E0.24 (diluted), compared to E1.07
(basic) and E1.05 (diluted) in 2008.
Operating cash flow for the year ended December 31, 2009 was E3,247 million (E3,197 million for
the year ended December 31, 2008) and total combined cash and other liquid assets were E8,873
million (E6,820 million). As of December 31, 2009, our net debt-to-equity ratio (gearing) was –25%
(– 14% as of December 31, 2008). In 2009, capital expenditure amounted to E531 million (E889
million).
The key financial data, including the calculation of key ratios, for the years 2009, 2008 and 2007 are
available in the Annual Accounts.
Main events in 2009
Nokia Group
Nokia formed Solutions, a new unit responsible for driving Nokia’s offering of solutions, with the aim
of integrating the mobile device, services and content into a unique and compelling offering for the
consumer. The unit formally started operating on October 1, 2009.
Nokia announced changes to its Group Executive Board, with Robert Andersson leaving Nokia’s
Group Executive Board as of September 30, 2009 in connection with his transfer to new duties in

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Nokia Corporation
Company View
Nokia’s Corporate Development unit; Alberto Torres joining Nokia’s Group Executive Board as of
October 1, 2009 in connection with his appointment as head of the Solutions unit, and; Simon
Beresford-Wylie leaving the Group Executive Board on September 30, 2009 after stepping down as
Chief Executive Officer of Nokia Siemens Networks.
Nokia announced that Rajeev Suri was appointed as Chief Executive Officer of Nokia Siemens
Networks as of October 1, 2009.
Nokia continued to take action to adjust its business operations and cost base in accordance with
market demand as well as seek savings in operational expenses, looking at all areas and activities
across Devices & Services and global support functions. Actions included the closure of certain
Nokia facilities, the streamlining of Nokia’s research and development organization, temporary
lay-offs in production, and measures to increase efficiency in certain global support functions.
Nokia was named as the world’s most sustainable technology company according to the 2009–2010
edition of the Dow Jones Sustainability Indexes.
Devices & Services
Nokia strengthened its portfolio of Mobile Phones with new models such as the: Nokia 2323 classic,
an affordable mobile device offering an FM radio with recording and an Internet browser; Nokia 2330
classic, an affordable mobile device equipped with an integrated camera; Nokia 3720 classic, a
rugged handset designed to resist water, dust and shock; Nokia 5130 XpressMusic, an affordable
handset optimized for music; Nokia 6303 classic, featuring a 3.2 megapixel camera, an Internet
browser and long battery life; Nokia 6700 classic, equipped with a 5 megapixel camera, assisted
GPS navigation, and high speed data access and Nokia X3, an affordable music device with stereo
speakers, built-in FM radio and a 3.2 megapixel camera.
To create additional value for users of our Mobile Phones, Nokia also developed its offering of
services designed to be accessed with them: In India and Indonesia, Nokia launched Nokia Life
Tools, through which consumers can access timely and relevant agricultural information, as well as
education and entertainment services, without requiring the use of GPRS or Internet connectivity;
Nokia also continued to expand Ovi Mail, a free email service designed especially for users in
emerging markets with Internet-enabled devices.
Nokia introduced Nokia Money, a new mobile financial service.The service is to be rolled out gradually
to selected markets and will be operated in cooperation with Obopay, a leading developer of mobile
payment solutions in which Nokia invested.
Nokia strengthened its portfolio of Smartphones with new models such as the: Nokia N97, featuring
a tilting 3.5” touch display with a full QWERTY keyboard, a 5 megapixel camera, integrated AGPS
sensors and an electronic compass, and 32 GB of onboard memory; Nokia N97 mini, a smaller
companion to the Nokia N97, featuring a tilting 3.2” touch display and a fully customizable
homescreen; Nokia 5230, an affordable touch smartphone that, in select markets, is available with
Comes With Music; Nokia E72, a device designed especially for business use and messaging,

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Nokia Corporation
Company View
featuring the latest consumer and corporate email solutions and simple Instant Messaging setup;
Nokia E75, featuring a slide out QWERTY keyboard, 3.2 megapixel camera and assisted GPS and
Nokia X6, a powerful, touch entertainment device with 32 GB of onboard memory that, in select
markets, is available in combination with Comes With Music.
Building on the functionalities of Nokia’s Smartphones and enhancing their value for consumers,
Nokia continued to develop Ovi, the Internet services brand under which it has integrated many of
its individual services to simplify the user experience and differentiate it from competitors. For
example, Nokia launched Ovi Store, a one-stop shop for applications and content for millions of
Nokia device users, and made available the Ovi SDK (software development kit), the Ovi Maps
Player API (application programming interface) and the Ovi Navigation API, enabling the creation
of sophisticated applications for the web as well as the Symbian and Maemo platforms.
Nokia continued to develop Ovi Maps, a service that gives consumers access to mapping and, for
those with GPSenabled Nokia mobile devices, navigation. Ovi Maps utilizes NAVTEQ’s digital maps
database and is evolving from a static map to a dynamic platform upon which users can add their
own content and access location-based services as well as content placed on the map by third
parties, such as Lonely Planet, Michelin and WCities. During January 2010, Nokia introduced a new
version of Ovi Maps for its selected smartphones that includes navigation at no extra cost for
consumers available for download on Nokia’s web site. This new version of Ovi Maps includes
high-end car and pedestrian navigation features, such as turn-by-turn voice guidance for 74 countries,
in 46 languages, and traffic information for more than 10 countries, as well as detailed maps for
more than 180 countries.
Nokia launched in Russia Ovi Music, representing the first step to bring Nokia Music Store–our chain
of digital music stores–into the Ovi stable of services. During 2010, we plan to migrate our existing
Nokia Music Stores in different countries to Ovi Music, bringing a number of benefits such as a single
account and a sleek and simple Ovi look and feel and other user experience improvements. The
Ovi Music catalog has more than 9 million tracks available for download.
Nokia commenced shipments of the Nokia N900, a handset that delivers computer-grade performance
in a compact QWERTY and touch form factor. The Nokia N900 runs on Maemo, a desktop PC-like
software architecture based on the open source Linux software, and which Nokia is continuing to
develop.
Nokia commenced shipments of the Nokia Booklet 3G, a new Windows 7-based mini-laptop, built
for all-day mobility and connectivity. Encased in an ultra-portable aluminum chassis, the Nokia
Booklet 3G runs for up to 12 hours on a single charge and has a broad range of connectivity options.
Nokia continued to partner with third party companies, operators, developers and content providers
in areas that it believes could positively differentiate its Smartphones, as well as other Nokia mobile
devices, from those offered by competitors. For example, partnering with operators, Nokia continued
to grow Nokia Messaging, its push email and instant messaging service. Nokia also continued to
work together with the music industry to expand Nokia Music Store, its digital music store, and
Comes With Music, its ‘all-you-can-eat’ music offering. Additionally, Nokia formed a global alliance

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Nokia Corporation
Company View
with Microsoft to design and market a suite of productivity applications for Nokia’s Smartphones,
and commenced a partnership with Intel Corporation to develop a new class of Intel Architecture-based
mobile computing device and chipset architectures that will combine the performance of powerful
computers with high-bandwidth mobile broadband communications and ubiquitous Internet
connectivity. Nokia also launched Ovi lifecasting, an application developed together with Facebook
that enables people to publish their location and status updates directly to their Facebook account
from the home screen of a mobile device.
NAVTEQ
NAVTEQ announced the availability of Motorway Junction Objects, which enables navigation systems
to display full 3D animation of complex junctions, in Australia, Europe and North America with
coverage of over 8 000 locations.
NAVTEQ announced that NAVTEQ Discover Cities reached a global pedestrian navigation milestone
of 100 cities.
NAVTEQ announced the availability of NAVTEQ LocationPoint, a location-based advertising service

for mobile applications, in several European countries, as well as agreements with AAA, Loopt and
Nextar in North America to utilize the offering.
NAVTEQ launched real time traffic in 11 European countries and expanded NAVTEQ Traffic Patterns
to 9 European countries.
NAVTEQ launched maps in Chile, Venezuela, Iceland and Croatia, along with a significant increase
in major city coverage in its India map to now encompass 84 cities.
NAVTEQ announced that it signed an agreement with Samsung Electronics providing access to all
countries in the NAVTEQ database as well as NAVTEQ’s Visual Content, Speed Limits, Extended
Lanes and NAVTEQ Discover Cities.
NAVTEQ announced a global technology agreement with Microsoft to allow the rapid deployment
of innovative collection capabilities, as well as accelerating the collection, creation and storage of
3D map data and visuals.
NAVTEQ announced the integration of Nokia GPS data for availability in NAVTEQ traffic products
in North America and Europe.
Nokia Siemens Networks
Nokia Siemens Networks won 29 new 3G contracts during 2009, confirming its industry leading
position in wireless broadband. The company secured key deals across the globe including contracts
with: Softbank in Japan; Telenor in Denmark and Sweden; Megafon in Russia; Hutchison Telecom

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Nokia Corporation
Company View
in Hong Kong; China Unicom and China Mobile; Nuevatel in Bolivia; and Viettel and Vinaphone in
Vietnam.
Nokia Siemens Networks took significant steps forward in LTE, making the world’s first LTE call and
handover on commercial software and started LTE interoperability tests with 4 leading device vendors.
Nokia Siemens Networks had by year end 2009 shipped capable LTE hardware to close to all its
3G customers, demonstrating readiness to support operators all over the world in the first commercial
deployments of LTE. Nokia Siemens Networks was selected to provide LTE networks for Zain Bahrain
and Telenor Denmark, taking commercial LTE references to six, including a deal with Verizon, the
United States operator, which selected Nokia Siemens Networks as a supplier of its IP Multi-Media
Subsystem (IMS) network, which will enable rich multimedia applications across its networks.
Nokia Siemens Networks signed 37 new Managed Services contracts in 2009, breaking into new
geographic markets across the world with landmark agreements that included contracts with Orange
in the United Kingdom and Spain, Oi in Brazil, Zain in Nigeria and East Africa and Unitech in India.
Nokia Siemens Networks extended its global services delivery capability with the inauguration of a
Global Networks Solutions Centre in Noida, India.
Nokia Siemens Networks announced a number of technological advances including the launch of
the Flexi Multiradio base station which allows GSM/EDGE, WCDMA/HSPA/HSPA+ and LTE standards
to run concurrently in a single unit, and the Evolved Packet Core for LTE that will enable operators
to efficiently offer a full range of data, voice, and high-quality and real-time multimedia services over
different wireless standards using the same open platform in the core network.
Nokia Siemens Networks also launched new solutions including FlexiPacket Microwave, a next
generation full packet microwave solution which combines Carrier Ethernet Transport with Microwave
Radio, and charge@once unified and business solutions that allow operators to combine charging
and billing.
Nokia Siemens Networks announced a reorganization of its business structure to align it better to
customer needs. At the same time, Nokia Siemens Networks announced a plan to improve its
financial performance, which include targeted reductions of annualized operating expenses and
production overheads of EUR 500 million by the end of 2011, compared to the end of 2009, on a
non-IFRS basis. As part of that effort, the company is conducting a global personnel review which
may lead to headcount reductions in the range of about 7 % to 9 % of its approximately 64 000
employees.
Acquisitions and divestments in 2009
In December 2009, Nokia and New Alliance, an investment company which is part of the Shanghai
Alliance Investment Ltd, announced plans to form a 50-50 joint venture company to offer a range of
mobile services in China and support the local developer ecosystem.

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Nokia Corporation
Company View
In December 2009, Nokia sold its minority holding in Venyon, a leading trusted service manager on
the mobile near field communication (NFC) market, to Giesecke & Devrient.
In October, 2009, Nokia completed the sale of Symbian Professional Services to Accenture.
In October 2009, Nokia Siemens Networks and Juniper Networks formed a joint venture offering a
Carrier Ethernet solution for mobile backhaul, business and residential broadband networks. The
joint venture company is 60 % owned by Juniper Networks and 40 % by Nokia Siemens Networks.
In September 2009, Nokia acquired Dopplr, a mobile service provider for international travelers.
In September 2009, NAVTEQ acquired Acuity Mobile, whose leading mobile location-based advertising
delivery platform enables NAVTEQ to continue to differentiate its interactive advertising capabilities.
In September 2009, Nokia acquired certain assets of Plum Ventures, a company that develops and
operates a cloud-based social media sharing and messaging service for private groups.
In August 2009, Nokia acquired cellity, a mobile software company that has developed a solution
for aggregating address book data.
In April 2009, Nokia sold its security appliance business to Check Point Software Technologies.
In February 2009, Nokia acquired bit-side, a professional services and software company.
In January 2009, NAVTEQ acquired T-Traffic Systems, a leading provider of traffic services in
Germany.
Personnel
The average number of employees for 2009 was 123,171, (121,723 for 2008 and 100,534 for 2007).
At December 31, 2009, Nokia employed a total of 123,553 people (125,829 at December 31, 2008,
and 112,262 at December 31, 2007). The total amount of wages and salaries paid in 2009 was
E5,658 million (E5,615 million in 2008 and E4,664 million in 2007).
Management and Board of Directors
Board of Directors, Group Executive Board and President
Pursuant to the Articles of Association, Nokia Corporation has a Board of Directors composed of a
minimum of 7 and a maximum of 12 members. The members of the Board are elected for a term of
one year at each Annual General Meeting, i.e. as from the close of that Annual General Meeting
until the close of the following Annual General Meeting, which convenes each year by June 30. A
general meeting may also dismiss a member of the Board of Directors. The Board has the
responsibility for appointing and discharging the Chief Executive Officer, the Chief Financial Officer

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Nokia Corporation
Company View
and the other members of the Group Executive Board. The Chief Executive Officer, who is separated
from Chairman, also acts as President and his rights and responsibilities include those allotted to
the President under Finnish law.
The current members of the Board of Directors were elected at the Annual General Meeting on April
23, 2009. On December 31, 2009, the Board consisted of the following members: Jorma Ollila (Chair),
Marjorie Scardino (Vice Chair), Georg Ehrnrooth, Lalita D. Gupte, Bengt Holmstrom, Henning
Kagermann, Per Karlsson, Olli-Pekka Kallasvuo, Isabel Marey-Semper, Risto Siilasmaa and Keijo
Suila.
Information on shares and stock options held by the members of the Board of Directors and the
President and CEO as well as the other members of the Group Executive Board are available in the
Annual Accounts.
For more information regarding Corporate Governance, please see the Corporate Governance
Statement in the Additional information section of this document or at Nokia’s website, www.nokia.com.
Changes in the Group Executive Board
Alberto Torres, Executive Vice President, Head of Solution Unit, was appointed as a member of the
Group Executive Board as from October 1, 2009. Robert Andersson and Simon Beresford-Wylie left
the Group Executive Board as from September 30, 2009.
Service contracts
Olli Pekka Kallasvuo’s service contract covers his current position as President and CEO and
Chairman of the Group Executive Board. As at December 31, 2009, Mr. Kallasvuo’s annual total
gross base salary, which is subject to an annual review by the Board of Directors and confirmation
by the independent members of the Board, is E1,176,000. His incentive targets under the Nokia
short-term cash incentive plan are 150% of the annual gross base salary. In case of termination by
Nokia for reasons other than cause, including a change of control, Mr. Kallasvuo is entitled to a
severance payment of up to 18 months of compensation (both the annual total gross base salary
and target incentive). In case of termination by Mr. Kallasvuo, the notice period is six months and
he is entitled to a payment for such notice period (both annual total gross base salary and target
incentive for six months). Mr. Kallasvuo is subject to a 12-month non-competition obligation after
termination of the contract. Unless the contract is terminated for cause, Mr. Kallasvuo may be entitled
to compensation during the non-competition period or a part of it. Such compensation amounts to
the annual total gross base salary and target incentive for the respective period during which no
severance payment is paid.
Provisions on the amendment of articles of association
Amendment of the Articles of Association requires a decision of the general meeting, supported by
two-thirds of the votes cast and two-thirds of the shares represented at the meeting. Amendment of

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Nokia Corporation
Company View
the provisions of Article 13 of the articles of association requires a resolution supported by

three-quarters of the votes cast and three-quarters of the shares represented at the meeting.
Shares and share capital
Nokia has one class of shares. Each Nokia share entitles the holder to one vote at general meetings
of Nokia.
In 2009, Nokia issued 7,500 new shares upon exercise of stock options issued to personnel in 2004.
Effective March 25, 2009, a total of 56 million shares held by the company were cancelled. The
issuance of new shares and cancellation of shares did not impact the amount of share capital of the
company. Neither the issuance of shares nor the cancellation of shares had any significant effect
on the relative holdings of the other shareholders of the company nor on their voting power.
In 2009, Nokia did not repurchase any shares.
In 2009, Nokia transferred a total of 10,351,876 Nokia shares held by it under Nokia equity plans
as settlement under the plans to the Plan participants, personnel of Nokia Group. The amount of
shares transferred represented approximately 0.2% of the total number of shares and the total voting
rights. The transfers did not have a significant effect on the relative holdings of the other shareholders
of the company nor on their voting power.
On December 31, 2009, Nokia and its subsidiary companies owned 36,693,564 Nokia shares. The
shares represented approximately 1.0% of the total number of the shares of the company and the
total voting rights. The total number of shares at December 31, 2009, was 3,744,956,052. On
December 31, 2009, Nokia’s share capital was E245, 896,461.96.
Information on the authorizations held by the Board in 2009 to issue shares and special rights entitling
to shares, transfer shares and repurchase own shares as well as information on the shareholders,
stock options, shareholders’ equity per share, dividend yield, price per earnings ratio, share prices,
market capitalization, share turnover and average number of shares may be found in the Annual
Accounts.
Industry and Nokia outlook for full year 2010
Nokia expects industry mobile device volumes to be up approximately 10% in 2010, compared to
2009, based on the industry mobile device market definition applied by Nokia beginning in 2010.
Nokia targets its mobile device volume market share to be flat in 2010, compared to 2009, based
on the industry mobile device market definition applied by Nokia beginning in 2010.
Nokia targets to increase its mobile device value market share slightly in 2010, compared to 2009,
based on the industry mobile device market definition applied by Nokia beginning in 2010.

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Company View
Nokia and Nokia Siemens Networks expect a flat market in euro terms for the mobile and fixed
infrastructure and related services market in 2010, compared to 2009.
Nokia and Nokia Siemens Networks target Nokia Siemens Networks to grow faster than the market
in 2010, compared to 2009.

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Nokia Corporation
Locations and Subsidiaries
LOCATIONS AND SUBSIDIARIES

Head Office
Nokia Corporation
Keilalahdentie 2-4
Espoo 02150
FIN
P:358 7180 08000
F:358 7180 34003
http://www.nokia.com
Other Locations and Subsidiaries
Nokia United States Nokia Latin America

102 Corporate Park Drive 703 NW 62nd Avenue
White Plains Suite 100
New York 10604 Miami
USA Florida 33126
USA
Nokia Brazil Nokia Greater China and Korea

Av das Nacoes Unidas Nokia China Campus
12.901 Torre Norte 11o Beijing Economic and Technological
Andar Cep 04578-910 Development
Sao Paulo 04578-910 No.5 Donghuan Zhonglu
BRA Beijing 100176
CHN
Nokia South East Asia and Pacific Nokia India

438B Alexandra Road SP Infocity
07-00 Alexandra Technopark Industrial Plot no. 243
Singapore 119968 Udyog Vihar, Phase 1
SGP Dundahera, Gurgaon
Haryana 122016
IND
Nokia Middle East and Africa Nokia Eurasia

Al Thuraya Tower II Stoleshnikov Per 14
27th floor 103031 Moscow
Dubai Internet City RUS
Dubai
ARE

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Nokia Corporation
Locations and Subsidiaries
Nokia Canada Nokia Czech Republic

601 Westney Road South Praha City Center
L1S 4N7 Ajax Klimentska 46
CAN 11002 Prague
CZE
Nokia - Denmark Nokia France

A.C.Meyers Vaenge 15 Parc du Millenaire 2
1790 Copenhagen 35 rue de la Gare
DNK 75019 Paris
FRA
Nokia Germany Nokia Indonesia

Lise-Meitner-Str. 10 Jl. Ir H Juanda 381A (Dago)
89081 Ulm 40135 Bandung
DEU IDN
Nokia Iran Nokia Japan

1569 Shariati Avenue Arco Tower
15136 Tehran 1-8-1 Shimomeguro
IRN Meguro-ku
153-0064 Tokyo
JPN
Nokia Malaysia Nokia Netherlands

Jalan Stesen Sentral 5 Strawinskylaan 3111
50470 Kuala Lumpur 1077 ZX Amsterdam
MYS NLD
Nokia Norway Nokia Spain

Sandakerveien 116 Camino Cerro de los Gamos
NO-0484 Oslo 1 Edificio 3
NOR 28224 Madrid
ESP

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Nokia Corporation

Publication Date: 30 Sep 2010

t: +44 20 7551 9000 t: +1 212 686 7400 t: +61 2 8705 6900

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Name Job Title Board Compensation

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KEY EMPLOYEE BIOGRAPHIES

Board: Executive Board

Dame Marjorie Scardino

Board: Non Executive Board

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Board: Senior Management

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Board: Senior Management

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MAJOR PRODUCTS AND SERVICES

Software and services:

Ovi software development kit (SDK)

Digital map information

Nokia Siemens Networks:

Consulting and systems integration

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Flexi base stations

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*Note: Total geographic percentage contribution rounded off