Nokia Q4 2009 net sales EUR 12.0 billion, non-IFRS EPS EUR 0.25 (reported EPS EUR 0.26)
(Thomson Reuters ONE) - NOKIA / Nokia Q4 2009 net sales EUR 12.0 billion, non-IFRS EPS EUR 0.25 (reported EPS EUR 0.26) processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. Nokia Board of Directors will propose a dividend of EUR 0.40 per share for 2009(EUR 0.40 per share for 2008)Nokia CorporationInterim ReportJanuary 28, 2010 at 13.00 (CET+1)The complete press release with tables is available at:http://www.nokia.com/results/Nokia_results2009Q4e.pdf+-----------------------------------------------------+-+----------------------+| | | Non-IFRS full year|| Non-IFRS fourth quarter 2009 results1 | | 2009 results1, 2|+------------+-------+-------+--------+------+--------+-+------+------+--------+| | Q4/| Q4/| YoY| Q3/| QoQ| | | | YoY||EUR million | 2009| 2008| Change| 2009| Change| | 2009| 2008| Change|+------------+-------+-------+--------+------+--------+-+------+------+--------+|Net sales | 11 988| 12 665| -5.3%| 9 810| 22.2%| |40 987|50 722| -19.2%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| Devices & | | | | | | | | | ||Services | 8 179| 8 141| 0.5%| 6 915| 18.3%| |27 853|35 099| -20.6%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| NAVTEQ | 225| 206| 9.2%| 166| 35.5%| | 673| 363| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| Nokia | | | | | | | | | ||Siemens | | | | | | | | | ||Networks | 3 625| 4 340| -16.5%| 2 760| 31.3%| |12 574|15 319| -17.9%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| | | | | | | | | | |+------------+-------+-------+--------+------+--------+-+------+------+--------+|Operating | | | | | | | | | ||profit | 1 473| 1 239| 18.9%| 741| 98.8%| | 3 503| 7 033| -50.2%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| Devices & | | | | | | | | | ||Services | 1257| 983| 27.9%| 787| 59.7%| | 3 488| 6 373| -45.3%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| NAVTEQ | 54| 53| 1.9%| 43| 25.6%| | 121| 82| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| Nokia | | | | | | | | | ||Siemens | | | | | | | | | ||Networks | 201| 225| -10.7%| -53| | | 28| 757| -96.3%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| | | | | | | | | | |+------------+-------+-------+--------+------+--------+-+------+------+--------+|Operating | | | | | | | | | ||margin | 12.3%| 9.8%| | 7.6%| | | 8.5%| 13.9%| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| Devices & | | | | | | | | | ||Services | 15.4%| 12.1%| | 11.4%| | | 12.5%| 18.2%| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| NAVTEQ | 24.0%| 25.7%| | 25.9%| | | 18.0%| 22.6%| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| Nokia | | | | | | | | | ||Siemens | | | | | | | | | ||Networks | 5.5%| 5.2%| | -1.9%| | | 0.2%| 4.9%| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| | | | | | | | | | |+------------+-------+-------+--------+------+--------+-+------+------+--------+|EPS, EUR | | | | | | | | | ||Diluted | 0.25| 0.26| -3.8%| 0.17| 47.1%| | 0.66| 1.34| -50.7%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| | | Reported full year|| Reported fourth quarter 2009 results | | 2009 results2|+------------+-------+-------+--------+------+--------+-+------+------+--------+| | | | YoY| Q3/| QoQ| | | | YoY||EUR million |Q4/2009|Q4/2008| Change| 2009| Change| | 2009| 2008| Change|+------------+-------+-------+--------+------+--------+-+------+------+--------+|Net sales | 11 988| 12 662| -5.3%| 9 810| 22.2%| |40 984|50 710| -19.2%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| Devices & | | | | | | | | | ||Services | 8 179| 8 141| 0.5%| 6 915| 18.3%| |27 853|35 099| -20.6%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| NAVTEQ | 225| 205| 9.8%| 166| 35.5%| | 670| 361| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| Nokia | | | | | | | | | ||Siemens | | | | | | | | | ||Networks | 3 625| 4 338| -16.4%| 2 760| 31.3%| |12 574|15 309| -17.9%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| | | | | | | | | | |+------------+-------+-------+--------+------+--------+-+------+------+--------+|Operating | | | | | | | | | ||profit | 1 141| 492| 131.9%| -426| | | 1 197| 4 966| -75.9%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| Devices & | | | | | | | | | ||Services | 1 219| 766| 59.1%| 785| 55.3%| | 3 314| 5 816| -43.0%|+------------+-------+-------+--------+------+--------+-+------+------+--------+| NAVTEQ | -56| -73| | -68| | | -344| -153| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| Nokia | | | | | | | | | ||Siemens | | | | | | | | | ||Networks | 17| -179| |-1 107| | |-1 639| -301| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| | | | | | | | | | |+------------+-------+-------+--------+------+--------+-+------+------+--------+|Operating | | | | | | | | | ||margin | 9.5%| 3.9%| | -4.3%| | | 2.9%| 9.8%| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| Devices & | | | | | | | | | ||Services | 14.9%| 9.4%| | 11.4%| | | 11.9%| 16.6%| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| NAVTEQ | -24.9%| -35.6%| |-41.0%| | |-51.3%|-42.4%| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| Nokia | | | | | | | | | ||Siemens | | | | | | | | | ||Networks | 0.5%| -4.1%| |-40.1%| | |-13.0%| -2.0%| |+------------+-------+-------+--------+------+--------+-+------+------+--------+| | | | | | | | | | |+------------+-------+-------+--------+------+--------+-+------+------+--------+|EPS, EUR | | | | | | | | | ||Diluted | 0.26| 0.15| 73.3%| -0.15| | | 0.24| 1.05| -77.1%|+------------+-------+-------+--------+------+--------+-+------+------+--------+Note 1 relating to non-IFRS results: Non-IFRS results exclude special items forall periods. In addition, non-IFRS results exclude intangible assetamortization, other purchase price accounting related items and inventory valueadjustments arising from i) the formation of Nokia Siemens Networks and ii) allbusiness acquisitions completed after June 30, 2008. More specific informationabout the exclusions from the non-IFRS results may be found in this pressrelease on pages 3-4, 12-14 and 16 for the quarterly periods and pages 25-29 forthe full year 2009 and 2008.Nokia believes that these non-IFRS financial measures provide meaningfulsupplemental information to both management and investors regarding Nokia'sperformance by excluding the above-described items that may not be indicative ofNokia's business operating results. These non-IFRS financial measures should notbe viewed in isolation or as substitutes to the equivalent IFRS measure(s), butshould be used in conjunction with the most directly comparable IFRS measure(s)in the reported results. A reconciliation of the non-IFRS results to ourreported results for Q4 2009 and Q4 2008 as well as for full year 2009 and 2008can be found in the tables on pages 10, 12-16 and 24-29 of this press release. Areconciliation of our Q3 2009 non-IFRS results can be found on pages 11 and14-18 of our Q3 2009 Interim Report of October 15, 2009.Note 2 relating to NAVTEQ: Nokia completed the acquisition of NAVTEQ Corporationon July 10, 2008. NAVTEQ is a separate reportable segment of Nokia starting fromthe third quarter 2008. The results of NAVTEQ are not available for the priorperiods. Accordingly, the results of Nokia Group and NAVTEQ for the full year2009 are not directly comparable to the results for the full year 2008.FOURTH QUARTER 2009 HIGHLIGHTS- Nokia net sales of EUR 12.0 billion, down 5% year on year and up 22%sequentially (down 4% and up 20% at constant currency).- Devices & Services net sales of EUR 8.2 billion, up 0.5% year on year and up18% sequentially (up 2% and 16% at constant currency).- Services net sales of EUR 169 million, up 15% sequentially; billings of EUR226 million, up 31% sequentially.- Estimated industry mobile device volumes of 329 million units, up 8% year onyear and up 14% sequentially.- Nokia mobile device volumes of 126.9 million units, up 12% year on year and up17% sequentially.- Nokia estimated mobile device market share of 39% in Q4 2009, up from anestimated 37% in Q4 2008 and 38% in Q3 2009. The full year 2009 estimated marketshare was 38%, down from 39% in 2008.- Nokia grew its converged device market share to an estimated 40%, from anestimated 35% in Q3 2009.- Nokia improved the ASP of its mobile devices to EUR 63, from EUR 62 in Q32009.- Devices & Services increased its gross margin to 34.3%, from 30.9% in Q3 2009.- NAVTEQ non-IFRS net sales of EUR 225 million, up 9% year on year and up 36%sequentially, and non-IFRS operating margin of 24.0%, down from 25.9% in Q32009.- Nokia Siemens Networks net sales of EUR 3.6 billion, down 16% year on year andup 31% sequentially (down 17% and up 29% at constant currency).- Nokia operating cash flow of EUR 1.5 billion, more than double the operatingcash flow for Q3 2009.- Total cash and other liquid assets of EUR 8.9 billion at the end of Q4 2009.- Nokia taxes were unfavorably impacted by Nokia Siemens Networks taxes as notax benefits are recognized for certain Nokia Siemens Networks deferred taxitems. If Nokia's estimated long-term tax rate of 26% had been applied, non-IFRSNokia EPS would have been approximately 1 Euro cent higher.OLLI-PEKKA KALLASVUO, NOKIA CEO:"We grew our market share in smartphones in the fourth quarter, driven by thesuccessful launch of new touch and QWERTY models. Our performance insmartphones, combined with continuing success in the emerging markets, helped usincrease sales in our Devices & Services unit, both quarter-on-quarter andyear-on-year. Our solid results also owe a good deal to world class supply chainmanagement and impressive sales execution.I was also pleased with Nokia Siemens Networks' performance in Q4, especiallyconsidering the ongoing challenging conditions in the infrastructure market.That performance enabled it to turn in a full year profit on an operative basis.Our focus remains firmly on execution, especially around user experience. Here Iwant to highlight our move to shake up the navigation market with free walk anddrive navigation on our smartphones, a good example of how we are leveraging ourassets to bring real benefits to consumers."INDUSTRY AND NOKIA OUTLOOK- Nokia expects Devices & Services net sales to be between EUR 6.5 billion andEUR 7.0 billion in the first quarter 2010.- Nokia expects its non-IFRS operating margin in Devices & Services in the firstquarter 2010 to be negatively impacted by seasonality and to be at the lower endof the range of its full year 2010 target, which continues to be 12% to 14%.- Nokia and Nokia Siemens Networks expect Nokia Siemens Networks' net sales tobe between EUR 2.6 billion and EUR 2.9 billion in the first quarter 2010.- Nokia and Nokia Siemens Networks expect the non-IFRS operating margin in NokiaSiemens Networks in the first quarter 2010 to be negatively impacted byseasonality and to be below the full year 2010 target, which continues to bebreakeven to 2%.- Nokia continues to expect industry mobile device volumes to be upapproximately 10% in 2010, compared to 2009.- Nokia continues to target its mobile device volume market share to be flat in2010, compared to 2009.- Nokia continues to target to increase its mobile device value market shareslightly in 2010, compared to 2009.- Nokia continues to target non-IFRS operating expenses in Devices & Services ofapproximately EUR 5.7 billion in 2010.- Nokia and Nokia Siemens Networks continue to expect a flat market in euroterms for the mobile and fixed infrastructure and related services market in2010, compared to 2009.- Nokia and Nokia Siemens Networks continue to target Nokia Siemens Networks togrow faster than the market in 2010.- Nokia and Nokia Siemens Networks continue to target Nokia Siemens Networks toreduce its non-IFRS annualized operating expenses and production overheads byEUR 500 million by the end of 2011, compared to the end of 2009.FOURTH QUARTER 2009 FINANCIAL HIGHLIGHTS(Comparisons are given to the fourth quarter 2008 results, unless otherwiseindicated.)The non-IFRS results exclusionsQ4 2009 - EUR 332 million (net) consisting of:- EUR 89 million restructuring charge and other one-time items in Nokia SiemensNetworks- EUR 22 million gain on sale of real estate in Nokia Siemens Networks- EUR 36 million restructuring charge in Devices & Services- EUR 117 million of intangible asset amortization and other purchase priceaccounting related items arising from the formation of Nokia Siemens Networks- EUR 110 million of intangible asset amortization and other purchase priceaccounting related items arising from the acquisition of NAVTEQ- EUR 2 million of intangible assets amortization and other purchase pricerelated items arising from the acquisition of OZ Communications in Devices &ServicesQ4 2009 taxes - EUR 213 million non-cash positive effect from development andoutcome of various prior year items impacting Nokia taxesQ3 2009 - EUR 1 167 million consisting of:- EUR 908 million impairment of goodwill in Nokia Siemens Networks- EUR 29 million restructuring charge and other one-time items in Nokia SiemensNetworks- EUR 117 million of intangible assets amortization and other purchase pricerelated items arising from the formation of Nokia Siemens Networks- EUR 111 million of intangible assets amortization and other purchase pricerelated items arising from the acquisition of NAVTEQ- EUR 2 million of intangible assets amortization and other purchase pricerelated items arising from the acquisition of OZ Communications in Devices &ServicesQ3 2009 taxes - EUR 432 million valuation allowance for Nokia Siemens Networksdeferred tax assets impacting Nokia taxesQ4 2008 - EUR 747 million consisting of:- EUR 286 million restructuring charge and other one-time items in Nokia SiemensNetworks- EUR 52 million restructuring charge in Devices & Services- EUR 165 million representing the contribution of assets to Symbian Foundation- EUR 5 million restructuring charge in NAVTEQ- EUR 118 million of intangible asset amortization and other purchase priceaccounting related items arising from the formation of Nokia Siemens Networks- EUR 121 million of intangible asset amortization and other purchase priceaccounting related items arising from the acquisition of NAVTEQNon-IFRS results exclude special items for all periods. In addition, non-IFRSresults exclude intangible asset amortization, other purchase price accountingrelated items and inventory value adjustments arising from i) the formation ofNokia Siemens Networks and ii) all business acquisitions completed after June30, 2008.Nokia GroupNokia's fourth quarter 2009 net sales decreased 5% to EUR 12.0 billion, comparedwith EUR 12.7 billion in the fourth quarter 2008. At constant currency, groupnet sales would have decreased 4% year on year.The following chart sets out the year on year and sequential growth rates in ournet sales on a reported basis and at constant currency for the periodsindicated.+------------------------------------------------------------------------------+|FOURTH QUARTER 2009 NET SALES, REPORTED & CONSTANT CURRENCY1 || |+--------------------------+-------------------------+-------------------------+| |Q4/2009 vs.Q4/2008 Change|Q4/2009 vs.Q3/2009 Change|+--------------------------+-------------------------+-------------------------+|Group net sales - reported| -5%| 22%|+--------------------------+-------------------------+-------------------------+|Group net sales - constant| | ||currency1 | -4%| 20%|+--------------------------+-------------------------+-------------------------+| | | |+--------------------------+-------------------------+-------------------------+|Devices & Services net | | ||sales - reported | 0.5%| 18%|+--------------------------+-------------------------+-------------------------+|Devices & Services net | | ||sales - constant currency1| 2%| 16%|+--------------------------+-------------------------+-------------------------+| | | |+--------------------------+-------------------------+-------------------------+|Nokia Siemens Networks net| | ||sales - reported | -16%| 31%|+--------------------------+-------------------------+-------------------------+|Nokia Siemens Networks net| | ||sales - constant currency1| -17%| 28%|+--------------------------+-------------------------+-------------------------+| | | |+--------------------------+-------------------------+-------------------------+|Note 1: Change in net sales at constant currency excludes ||the impact of changes in exchange rates in comparison to the ||Euro, our reporting currency. |+------------------------------------------------------------------------------+Nokia's fourth quarter 2009 reported operating profit increased 132% to EUR 1.1billion, compared with EUR 492 million in the fourth quarter 2008. Nokia'sfourth quarter 2009 non-IFRS operating profit increased 19% to EUR 1.5 billion,compared with EUR 1.2 billion in the fourth quarter 2008. Nokia's fourth quarter2009 reported operating margin was 9.5% (3.9%). Nokia's fourth quarter 2009non-IFRS operating margin was 12.3% (9.8%).Operating cash flow for the fourth quarter 2009 was EUR 1.5 billion. Theoperating cash flow for the fourth quarter 2008 was negative EUR 0.3 billion.Operating cash flow in the fourth quarter 2008 included a one-time EUR 1.7billion lump-sum cash payment made to Qualcomm as part of a license agreement.Total cash and other liquid assets were EUR 8.9 billion at December 31, 2009,compared with EUR 6.8 billion at December 31, 2008. At December 31, 2009,Nokia's net debt-equity ratio (gearing) was -25%, compared with -14% at December31, 2008.Devices & ServicesIn the fourth quarter 2009, the total mobile device volumes of Devices &Services were 126.9 million units, representing an increase of 12% year on yearand 17% sequentially. The overall industry mobile device volumes for the sameperiod were 329 million units based on Nokia's estimate, representing anincrease of 8% year on year and 14% sequentially.Of the total industry mobile device volumes, converged mobile device industryvolumes in the fourth quarter 2009 increased to 52.4 million units, based onNokia's estimate, compared with an estimated 47.0 million units in the thirdquarter 2009. Our own converged mobile device volumes, comprising oursmartphones and mobile computers, were 20.8 million units in the fourth quarter2009, compared with 15.1 million units in the fourth quarter 2008 and 16.4million units in the third quarter 2009. Nokia's share of the converged mobiledevice market was an estimated 40% in the fourth quarter 2009, up from anestimated 35% in the third quarter 2009.We shipped approximately 4.6 million Nokia Nseries and approximately 6.1 millionNokia Eseries devices during the fourth quarter 2009, up from the combined 8.9million Nseries and Eseries devices we shipped in the third quarter 2009.The following chart sets out our mobile device volumes for the periodsindicated, as well as the year on year and sequential growth rates, bygeographic area.+-------------------------------------------------------+---------+------------+| NOKIA MOBILE DEVICE VOLUME BY GEOGRAPHIC AREA | | |+----------------------+---------+---------+------------+---------+------------+| (million units) | Q4/2009 | Q4/2008 | YoY Change | Q3/2009 | QoQ Change |+----------------------+---------+---------+------------+---------+------------+| Europe | 34.3 | 34.7 | -1.2% | 27.1 | 26.6% |+----------------------+---------+---------+------------+---------+------------+| Middle East & Africa | 24.3 | 18.2 | 33.5% | 19.6 | 24.0% |+----------------------+---------+---------+------------+---------+------------+| Greater China | 17.6 | 12.9 | 36.4% | 18.5 | -4.9% |+----------------------+---------+---------+------------+---------+------------+| Asia-Pacific | 34.5 | 29.9 | 15.4% | 30.5 | 13.1% |+----------------------+---------+---------+------------+---------+------------+| North America | 3.8 | 4.1 | -7.3% | 3.1 | 22.6% |+----------------------+---------+---------+------------+---------+------------+| Latin America | 12.4 | 13.3 | -6.8% | 9.7 | 27.8% |+----------------------+---------+---------+------------+---------+------------+| Total | 126.9 | 113.1 | 12.2% | 108.5 | 17.0% |+----------------------+---------+---------+------------+---------+------------+Based on our preliminary market estimate, Nokia's mobile device market share forthe fourth quarter 2009 was 39%, compared with 37% in the fourth quarter 2008and 38% in the third quarter 2009. Our year on year market share increase wasdriven by higher market share in all regions except North America, where ourmarket share was flat. Our sequential market share increase was driven primarilyby higher market share in Asia-Pacific, Middle East & Africa, Europe and NorthAmerica. Our market share was sequentially down in Greater China and LatinAmerica.Our mobile device average selling price (ASP) in the fourth quarter 2009 was EUR63, down from EUR 71 in the fourth quarter 2008 and up from EUR 62 in the thirdquarter 2009. The lower year on year ASP was primarily due to price erosion, ahigher proportion of lower-priced entry level device sales and to a lesserextent unfavorable changes in foreign exchange rates. On a sequential basis, ourASP benefited from more favorable foreign exchange hedging results and apositive mix shift towards converged mobile devices. Our mobile device ASP aboveexcludes net sales from services.Fourth quarter 2009 Devices & Services net sales increased 0.5% to EUR 8.2billion, compared with EUR 8.1 billion in the fourth quarter 2008. At constantcurrency, Devices & Services net sales would have increased 2%. Net sales grewyear on year in Greater China, Middle East & Africa and Asia-Pacific. Net saleswere down year on year in Europe, Latin America and North America. The slightnet sales increase resulted primarily from higher volumes in several regions,driven by stronger demand, largely offset, however, by an ASP decline comparedto the fourth quarter 2008. Of our total Devices & Services net sales, servicescontributed EUR 169 million in the fourth quarter 2009 and were up 15%sequentially. Services billings in the fourth quarter 2009 were EUR 226 million,up 31% sequentially.The following chart sets out our Devices & Services net sales and ASP for theperiods indicated by product category.+------------------------------------------------------------------------------+|DEVICES & SERVICES NET SALES AND ASP BY OPERATING MODE |+------------------------+--------------------+---------------+----------------+| | Net sales, EUR | | || | billion | ASP, EUR | |+------------------------+-------+------------+-------+-------+----------------+| |Q4/2009| Q3/2009|Q4/2009|Q3/2009| |+------------------------+-------+------------+-------+-------+----------------+|Mobile phones1 | 4.3| 3.8| 40| 41| |+------------------------+-------+------------+-------+-------+----------------+|Converged mobile | | | | | ||devices2 | 3.9| 3.1| 186| 190| |+------------------------+-------+------------+-------+-------+----------------+|Total | 8.2| 6.9| | | |+------------------------+-------+------------+-------+-------+----------------+| | | | | | |+------------------------+-------+------------+-------+-------+----------------+|Note 1: Series 30 and Series 40-powered devices ranging from basic mobile ||phones focused on voice capability to devices with a number of additional ||functionalities, such as Internet connectivity, including the services and ||accessories sold with them. |+------------------------------------------------------------------------------+|Note 2: Smartphones and mobile computers, including the services and ||accessories sold with them. |+------------------------------------------------------------------------------+Devices & Services reported gross profit and non-IFRS gross profit increased 2%to EUR 2.81 billion, compared with EUR 2.75 billion in the fourth quarter 2008,with a reported gross margin and non-IFRS gross margin of 34.3% (33.8%). Theyear on year gross margin increase was primarily due to favorable developmentsin product material costs and royalty income as well as changes in product mixoffset to a large extent by unfavorable changes in foreign exchange rates.Devices & Services reported operating profit increased 59% to EUR 1.2 billion,compared with EUR 766 million in the fourth quarter 2008, with a reportedoperating margin of 14.9% (9.4%). Devices & Services non-IFRS operating profitincreased 28% to EUR 1.3 billion, compared with EUR 983 million in the fourthquarter 2008, with a non-IFRS operating margin of 15.4% (12.1%). The 28% year onyear increase in non-IFRS operating profit for the fourth quarter 2009 wasdriven primarily by lower operating and other expenses.NAVTEQFourth quarter 2009 NAVTEQ reported net sales increased 10% year on year to EUR225 million, compared with EUR 205 million in the fourth quarter 2008,benefiting from growth in mobile devices and improved conditions in theautomotive industry. In the fourth quarter 2009, NAVTEQ's reported gross profitincreased to EUR 195 million, compared with EUR 180 million in the fourthquarter 2008, with a gross margin of 86.7% (87.8%). Non-IFRS gross profit wasEUR 196 million (EUR 181 million), with a non-IFRS gross margin of 87.1%(87.9%). In the fourth quarter 2009, NAVTEQ's reported operating loss decreasedto EUR 56 million, compared with a EUR 73 million loss in the fourth quarter2008. The reported operating margin was -24.9% (-35.6%). NAVTEQ non-IFRSoperating profit was EUR 54 million (EUR 53 million), with a non-IFRS operatingmargin of 24.0% (25.7%).Nokia Siemens NetworksFourth quarter 2009 net sales decreased 16% to EUR 3.6 billion, compared withEUR 4.3 billion in the fourth quarter 2008, reflecting challenging competitivefactors and market conditions. At constant currency, Nokia Siemens Networks netsales would have decreased 17%. Of total Nokia Siemens Networks net sales,services contributed EUR 1.7 billion in the fourth quarter 2009.The following chart sets out Nokia Siemens Networks net sales for the periodsindicated, as well as the year on year and sequential growth rates, bygeographic area.+-------------------------------------------------------------------+|NOKIA SIEMENS NETWORKS NET SALES BY GEOGRAPHIC AREA |+--------------------+-------+-------+-----------+-------+----------+|EUR million |Q4/2009|Q4/2008|YoY Change |Q3/2009|QoQ Change|+--------------------+-------+-------+-----------+-------+----------+|Europe | 1 327| 1 636| -18.9%| 1 062| 25.0%|+--------------------+-------+-------+-----------+-------+----------+|Middle East & Africa| 371| 615| -39.7%| 387| -4.1%|+--------------------+-------+-------+-----------+-------+----------+|Greater China | 425| 409| 3.9%| 335| 26.9%|+--------------------+-------+-------+-----------+-------+----------+|Asia-Pacific | 818| 967| -15.4%| 567| 44.3%|+--------------------+-------+-------+-----------+-------+----------+|North America | 244| 198| 23.2%| 127| 92.1%|+--------------------+-------+-------+-----------+-------+----------+|Latin America | 440| 513| -14.2%| 282| 56.0%|+--------------------+-------+-------+-----------+-------+----------+|Total | 3 625| 4 338| -16.4%| 2 760| 31.3%|+--------------------+-------+-------+-----------+-------+----------+Nokia Siemens Networks reported gross profit decreased 5% to EUR 1.07 billion,compared with EUR 1.13 billion in the fourth quarter 2008, with a gross marginof 29.5% (26.1%). Nokia Siemens Networks non-IFRS gross profit decreased 16% toEUR 1.1 billion, compared with EUR 1.3 billion in the fourth quarter 2008, witha non-IFRS gross margin of 30.6% (30.4%). The lower year on year non-IFRS grossprofit in the fourth quarter 2009 was due primarily to lower year on year netsales.Nokia Siemens Networks fourth quarter 2009 reported operating profit was EUR 17million, compared with a reported operating loss of EUR 179 million in thefourth quarter 2008, with a reported operating margin of 0.5%(-4.1%). Nokia Siemens Networks non-IFRS operating profit decreased 11% to EUR201 million in the fourth quarter 2009, compared with EUR 225 million in thefourth quarter 2008, with a non-IFRS operating margin of 5.5% (5.2%). The yearon year decrease in Nokia Siemens Networks non-IFRS operating profit primarilyreflected lower net sales offset to a large extent by lower operating expenses.In November 2009, Nokia Siemens Networks announced a reorganization of itsbusiness structure to align it better to customer needs. At the same time, NokiaSiemens Networks announced a plan to improve its financial performance, whichinclude targeted reductions of annualized operating expenses and productionoverheads of EUR 500 million by the end of 2011, compared to the end of 2009, ona non-IFRS basis. As part of that effort, the company is conducting a globalpersonnel review which may lead to headcount reductions in the range of about7% to 9% of its approximately 64 000 employees. Nokia Siemens Networks estimatedthat total charges associated with these reductions will be in the range of EUR550 million to be recorded mainly over the course of 2010. No charges associatedwith these reductions were recorded for the fourth quarter 2009. In addition tothe operating expense and production overhead savings, Nokia Siemens Networksannounced that it will target an annual reduction in product and serviceprocurement costs related to cost of goods sold that is substantially largerthan the targeted EUR 500 million in operating expenses and production overheadreductions.Q4 2009 OPERATING HIGHLIGHTSDevices & Services- Nokia introduced the Nokia 1616, Nokia 1800, Nokia 2220 slide and Nokia 2690,all affordable mobile devices that support Nokia Life Tools, a service throughwhich consumers can access timely and relevant agricultural information, as wellas education and entertainment services, without requiring the use of GPRS orInternet connectivity. During the fourth quarter, Nokia launched Nokia LifeTools in Indonesia.- Nokia commenced shipments of the Nokia X6, a powerful touch smartphone with32 GB of on-board memory that comes in combination with Comes With Music,Nokia's 'all-you-can-eat' music offering.- Nokia continued to expand Comes With Music, with the offering launching inNetherlands, Finland, Spain and Russia. In Russia, Nokia also launched OviMusic, representing the first step of its plan to bring Nokia Music Store-our22-strong chain of digital music stores-into the Ovi stable of services.- Nokia commenced shipments of the Nokia N97 mini, a smaller companion to theNokia N97, featuring a tilting 3.2" touch display, QWERTY keyboard and fullycustomizable homescreen.- Nokia continued to develop Ovi Maps, its mapping and navigation service. InJanuary 2010, Nokia introduced a new version of Ovi Maps for its smartphonesthat includes high-end walk and drive navigation at no extra cost, available fordownload at www.nokia.com/maps. The new version of Ovi Maps includes high-endcar and pedestrian navigation features, such as turn-by-turn voice guidance for74 countries, in 46 languages, and traffic information for more than 10countries, as well as detailed maps for more than 180 countries.- Ovi Store, Nokia's one-stop shop for applications and content, continued togrow, with the store now attracting more than 1 million downloads a day.- Nokia commenced shipments of the Nokia E72, a device designed especially forbusiness use and messaging, and featuring a full QWERTY keyboard, a 5 megapixelcamera and assisted GPS. The Nokia E72 is one of many Nokia mobile devicessupporting Nokia Messaging, Nokia's email service, which continued to gaintraction. Nokia Messaging is now available to Nokia users in more than 100countries and more than 2 million users are now registered.- Nokia continued to expand Ovi Mail, a free email service designed especiallyfor users in emerging markets with Internet-enabled devices. The service can beset up and accessed without ever needing a PC. More than 5 million accounts havebeen activated since Ovi Mail was launched in late 2008.- Nokia commenced shipments of the Nokia N900, a handset that deliverscomputer-grade performance in a compact QWERTY and touch form factor. The NokiaN900 runs on Maemo, a desktop PC-like software architecture based on open sourceLinux, and which Nokia is continuing to develop.- Nokia commenced shipments of the Nokia Booklet 3G, a new Windows 7-basedmini-laptop, built for all-day mobility and connectivity. Encased in anultra-portable aluminum chassis, the Nokia Booklet 3G runs for up to 12 hours ona single charge and has a broad range of connectivity options.- As part of its global efforts to align its research and development (R&D)operations with its focused portfolio of future products, Nokia announced plansto reduce its R&D activities in Japan, as well as some of its R&D activities inFinland and Denmark.- Nokia filed a complaint against Apple with the Federal District Court inDelaware, alleging that Apple's iPhone infringes Nokia patents for GSM, UMTS andwireless LAN (WLAN) standards. Nokia also announced that it filed a complaintwith the United States International Trade Commission (ITC) alleging that Appleinfringes Nokia patents in virtually all of its mobile phones, portable musicplayers, and computers. In January 2010, the ITC confirmed that it will commencean investigation based on the complaint by Nokia.NAVTEQ? NAVTEQ announced the North American availability of Motorway Junction Objects,which enables navigation systems to display full 3D animation of complexjunctions, with coverage of over 2 000 locations.? NAVTEQ launched full coverage maps of both Iceland and Croatia.? NAVTEQ announced that NAVTEQ LocationPoint(TM), the company's location-basedadvertising service for mobile applications, has been selected by AAA and Looptfor their respective applications to deliver users with location-relevantpromotions and coupons for local merchants.? NAVTEQ announced a global technology agreement with Microsoft to allow therapid deployment of innovative collection capabilities, as well as acceleratingthe collection, creation and storage of 3D map data and visuals.? NAVTEQ signed a global agreement with ALK to supply map data and content forthe company's CoPilot®Live(TM) GPS navigation products.Nokia Siemens Networks- Nokia Siemens Networks won 10 new 3G contracts including deals with Softbankin Japan for HSPA+ for evolved mobile data services delivery and with TelenorSweden for a full upgrade of its 3G network as well as a contract with VMSMobifone in Vietnam for a 3G network roll-out.- Nokia Siemens Networks was selected by Telenor Denmark for a full upgrade of2G and 3G radio networks for nationwide EDGE and HSPA/HSPA+ services in a dealthat also includes the future provision of LTE.- Nokia Siemens Networks maintained its momentum in LTE development usingstandards compliant software and commercial hardware. The company made theworld's first LTE handover on fully standards compliant software in October, andannounced it will be conducting interoperability tests with four leading devicevendors in different regions. In TD-LTE, Nokia Siemens Networks made the first3GPP standard compliant TD-LTE call.- Nokia Siemens Networks continued to make progress in Managed Services, signingnew deals with Zain in Nigeria and East Africa and Unitech Wireless in India.- Nokia Siemens Networks announced several business solutions deals including adevice management contract with IDEA Cellular in India and a charge(at)onceconvergent billing solution with leo in Namibia. In November, Nokia SiemensNetworks was awarded an Identity Data Management contract by Telefonica'sArgentina mobile operation 'Movistar', which will enable the operator to offertheir nearly 16 million end-users network-enhanced single-sign on and otherfeatures that improve online navigation.- Nokia Siemens Networks launched a comprehensive range of energy solutions fortelecoms operators, designed to reduce network operating costs, by loweringnetwork power consumption and exploiting more efficient technology and renewableenergy. Telenor Pakistan adopted the Off-Grid Site solution, using solar energyto power communications for rural customers.- Nokia Siemens Networks has responded to the increased focus on environmentalresponsibility, demand for renewable energy, intelligent power grids, and smartmeters, by announcing the intent to provide smart grid solutions for the energysector using its existing charging, mediation, service management and networkmanagement solutions. It also provided a software platform for ServusNet, uponwhich the Irish software group has been able to build a solution for wind farmmanagement.For more information on the operating highlights mentioned above, please referto related press announcements at the following links:http://www.nokia.com/presshttp://www.navteq.com/about/press.html,http://www.nokiasiemensnetworks.com/pressNOKIA IN THE FOURTH QUARTER 2009(The following discussion is of Nokia's reported results. Comparisons are givento the fourth quarter 2008 results, unless otherwise indicated.)Nokia's net sales decreased 5% to EUR 11 988 million (EUR 12 662 million). Netsales of Devices & Services increased 0.5% to EUR 8 179 million (EUR 8 141million). Net sales of NAVTEQ increased 10% to EUR 225 million (EUR 205million). Net sales of Nokia Siemens Networks decreased 16% to EUR 3 625 million(EUR 4 338 million).Operating profit increased 132% to EUR 1 141 million (EUR 492 million),representing an operating margin of 9.5% (3.9%). Operating profit in Devices &Services increased 59% to EUR 1 219 million (EUR 766 million), representing anoperating margin of 14.9% (9.4%). Operating loss in NAVTEQ was EUR 56 million(operating loss EUR 73 million), representing an operating margin of -24.9%(-35.6%). Operating profit in Nokia Siemens Networks was EUR 17 million(operating loss EUR 179 million), representing an operating margin of 0.5%(-4.1%). Group Common Functions reported expense totaled EUR 39 million (EUR 22million).In the period from October to December 2009, net financial expense was EUR 79million (EUR 16 million). Profit before tax and minority interests was EUR1 063 million (EUR 476 million). In Q4 2009, Nokia taxes benefited from thepositive effect from the development and outcome of various prior year itemsimpacting Nokia taxes. In Q4 2008, Nokia taxes benefited from Nokia obtaining afavorable high tech qualification assessment in China as well as certain taxbenefits from prior years. Profit was EUR 882 million (EUR 551 million), basedon a profit of EUR 948 million (EUR 576 million) attributable to equity holdersof the parent and a negative EUR 66 million (negative EUR 25 million)attributable to minority interests. Earnings per share increased to EUR 0.26(basic) and to EUR 0.26 (diluted), compared with EUR 0.16 (basic) and EUR 0.15(diluted) in the fourth quarter of 2008.NOKIA IN JANUARY - DECEMBER 2009(The following discussion is of Nokia's reported results. Comparisons are givento 2008 results, unless otherwise indicated.)Nokia completed the acquisition of NAVTEQ Corporation on July 10, 2008. NAVTEQis a separate reportable segment of Nokia starting from the third quarter 2008.The results of NAVTEQ are not available for the prior periods. Accordingly, theresults of Nokia Group and NAVTEQ for the full year 2009 are not directlycomparable to the results for the full year 2008.Nokia GroupFor 2009, Nokia's net sales decreased 19% to EUR 41.0 billion (EUR 50.7 billionin 2008). Net sales of Devices & Services for 2009 decreased 21% to EUR 27.9billion (EUR 35.1 billion). Net sales of Nokia Siemens Networks decreased 18% toEUR 12.6 billion (EUR 15.3 billion). Net sales of NAVTEQ were EUR 670 million in2009 (EUR 361 million for the six months ended December 31, 2008).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 America7% (10%) and North America 5% (4%). The 10 markets in which Nokia generated thegreatest net sales in 2009 were, in descending order of magnitude, China, India,the United Kingdom, Germany, the United States, Russia, Indonesia, Spain, Braziland Italy, together representing approximately 52% of total net sales in 2009.In comparison, the 10 markets in which Nokia generated the greatest net sales in2008 were China, India, the United Kingdom, Germany, Russia, Indonesia, theUnited 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 2009operating profit decreased 76% to EUR 1.2 billion, compared with EUR 5.0 billionin 2008. Nokia's 2009 operating margin was 2.9% (9.8%). Nokia's operating profitin 2009 included purchase price accounting items and other special items of netnegative EUR 2.3 billion (net negative EUR 2.1 billion). Devices & Servicesoperating profit decreased 43% to EUR 3.3 billion, compared with EUR 5.8 billionin 2008, with a reported operating margin of 11.9% (16.6%). Devices & Servicesoperating profit in 2009 included special items of negative EUR 174 million (netnegative EUR 557 million). NAVTEQ's operating loss for 2009 was EUR 344 million(EUR 153 million in the six months ended on December 31, 2008), representing anoperating margin of -51.3% (-42.4%). NAVTEQ's operating loss included purchaseprice accounting items and other special items of negative EUR 465 million (netnegative EUR 235 million). Nokia Siemens Networks had an operating loss of EUR1.6 billion, compared with a EUR 301 million operating loss in 2008,representing an operating margin of -13.0% (-2.0%). Nokia Siemens Networksoperating loss in 2009 included purchase price accounting items and otherspecial items, including EUR 908 million impairment of goodwill, of net negativeEUR 1.7 billion (net negative EUR 1.1 billion).For the full year 2009, Nokia's net sales and profitability were negativelyimpacted by the deteriorated global economic conditions, including weakerconsumer and corporate spending, constrained credit availability and currencymarket volatility. The demand environment, in particular for mobile devices,improved during the latter part of the year as the global economy startedshowing initial signs of recovery.Reported research and development expenses were EUR 5.9 billion in 2009, down1% from EUR 6.0 billion in 2008. Research and development costs represented14.4% of Nokia net sales in 2009, up from 11.8% in 2008. Research anddevelopment expenses included purchase price accounting items and other specialitems of EUR 564 million in 2009 (EUR 550 million in 2008). At December31, 2009, Nokia employed 37 020 people in research and development, representingapproximately 30% of the group's total workforce, and had a strong research anddevelopment presence in 16 countries.In 2009, Nokia's selling and marketing expenses were EUR 3.9 billion, comparedwith EUR 4.4 billion in 2008. Selling and marketing expenses for Nokiarepresented 9.6% of its net sales in 2009 (8.6%). Selling and marketing expensesincluded purchase price accounting items and other special items of EUR 413million in 2009 (EUR 341 million).Administrative and general expenses were EUR 1.1 billion in 2009, compared toEUR 1.3 billion in 2008. Administrative and general expenses were equal to 2.8%of net sales in 2009 (2.5%). Administrative and general expenses includedspecial items of EUR 103 million in 2009 (EUR 163 million).Group Common Functions expenses totaled EUR 134 million in 2009, compared to EUR396 million in 2008. Expenses in 2008 included a EUR 217 million loss due totransfer of Finnish pension liabilities.Net financial expense was EUR 265 million in 2009 (EUR 2 million).Profit before tax and minority interests was EUR 1.0 billion (EUR 5.0 billion).Profit was EUR 0.3 billion (profit of EUR 3.9 billion), based on a profit of EUR0.9 billion (profit of EUR 4.0 billion) attributable to equity holders of theparent and a negative EUR 0.6 billion (negative EUR 0.1 billion) attributable tominority interests. Earnings per share decreased to EUR 0.24 (basic) and EUR0.24 (diluted), compared to EUR 1.07 (basic) and EUR 1.05 (diluted) in 2008.Operating cash flow for the year ended December 31, 2009 was EUR 3.2 billion(EUR 3.2 billion) and total combined cash and other liquid assets were EUR 8.9billion (EUR 6.8 billion). As of December 31, 2009, our net debt-to-equity ratio(gearing) was -25% (-14% as of December 31, 2008). In 2009, capital expenditureamounted to EUR 531 million (EUR 889 million).Devices & ServicesIn 2009, the total mobile device volume of our Devices & Services group reached432 million units, representing a decrease of 8% year on year. The overallindustry mobile device volumes for 2009 reached 1.14 billion units, based onNokia's preliminary market estimate, representing a decrease of 6% year onyear. Based on our preliminary market estimate, Nokia's market share decreasedto 38% in 2009, compared to 39% in 2008.Of the total industry mobile device volumes, converged mobile device industryvolumes in 2009 increased to 176 million units, based on Nokia's estimate,compared with an estimated 161 million units in 2008. Our own converged mobiledevice volumes increased to 67.8 million units in 2009, compared with 60.6million units in 2008. Nokia shipped approximately 18 million Nokia Nseries andapproximately 18 million Nokia Eseries devices in 2009, down from the combined46 million Nseries and Eseries devices we shipped in 2008.The following chart sets out our mobile device volumes for the periodsindicated, as well as the year on year growth rates, by geographic area.+----------------------------------------------------+| NOKIA MOBILE DEVICE VOLUME BY GEOGRAPHIC AREA |+----------------------+-------+-------+-------------+| (million units) | 2009 | 2008 | YoY Change |+----------------------+-------+-------+-------------+| Europe | 107.0 | 114.9 | -6.9% |+----------------------+-------+-------+-------------+| Middle East & Africa | 77.6 | 81.0 | -4.2% |+----------------------+-------+-------+-------------+| Greater China | 72.6 | 71.3 | 1.8% |+----------------------+-------+-------+-------------+| Asia-Pacific | 123.5 | 134.0 | -7.8% |+----------------------+-------+-------+-------------+| North America | 13.5 | 15.7 | -14.0% |+----------------------+-------+-------+-------------+| Latin America | 37.6 | 51.5 | -27.0% |+----------------------+-------+-------+-------------+| Total | 431.8 | 468.4 | -7.8% |+----------------------+-------+-------+-------------+During 2009, Nokia gained device market share in Europe and Middle East &Africa. Our device market share decreased in Asia-Pacific, Latin America andNorth America. Our device market share was flat in Greater China.In Europe, our market share increased. Nokia's share increased in, for example,Germany, the United Kingdom, Russia and Spain, but was partly offset by marketshare declines in Italy, Finland, Ireland and some other countries. In MiddleEast & Africa, Nokia's 2009 market share increased, driven by share gains inmarkets such as Nigeria and Iran as Nokia continued to benefit from its brandand broad product portfolio.In Asia-Pacific, Nokia's market share declined in 2009 as a result of marketshare losses in several markets, including Singapore and Thailand. In LatinAmerica, Nokia's market share declined in 2009 as a result of market sharelosses in several markets, including Brazil, Mexico and Argentina. Our marketshare declined in North America in 2009 primarily due to a market share declinein the United States. In Greater China, Nokia continued to benefit from itsbrand, broad product portfolio and extensive distribution system during 2009.Nokia's device ASP in 2009 was EUR 63, a decline of 15% from EUR 74 in 2008.Industry ASPs also declined in 2009. Nokia's lower ASP in 2009 compared to 2008was primarily the result of a higher proportion of lower-priced entry leveldevice sales as well as general price pressure.Devices & Services net sales 2009 declined 21% to EUR 27.9 billion, comparedwith EUR 35.1 billion in 2008. At constant currency, Devices & Services netsales would have decreased 20%. The decline was driven by both volume decline aswell as an ASP decline. Of our total Devices & Services net sales, servicescontributed EUR 607 million in 2009. Net sales in Devices & Services were downin all regions except Greater China year on year.Devices & Services gross profit decreased 27% to EUR 9.3 billion, compared withEUR 12.7 billion in 2008, with a gross margin of 33.3% (36.3%). Devices &Services operating profit decreased 43% to EUR 3.3 billion, compared with EUR5.8 billion in 2008. Devices & Services operating margin in 2009 was 11.9%,compared with 16.6% in 2008. The year on year decrease in operating profit in2009 was driven primarily by lower net sales compared to 2008.NAVTEQNet sales of NAVTEQ were EUR 670 million in 2009, compared to EUR 361 millionfor the six months ended on December 31, 2008. Europe accounted for 46% (44%) ofNAVTEQ's net sales, North America 44% (43%), Middle East & Africa 4% (8 %),Asia-Pacific 3% (2%), Latin America 2% (2%) and Greater China 1% (1%).NAVTEQ operating loss was EUR 344 million in 2009, compared to a loss of EUR153 million for the six months ended on December 31, 2008. NAVTEQ operatingmargin was -51.3% (-42.4%).Nokia Siemens NetworksNet sales of Nokia Siemens Networks decreased 18% to EUR 12.6 billion in 2009,compared with EUR 15.3 billion in 2008, reflecting challenging market conditionsand competitive factors. At constant currency, net sales of Nokia SiemensNetworks would have decreased 16%. Europe accounted for 37% (37%) of NokiaSiemens Network's net sales, Asia-Pacific 22% (25%), Middle East & Africa 13%(13%), Latin America 11% (11%), Greater China 11% (9%) and North America 6%(5%).Nokia Siemens Networks had an operating loss of EUR 1.6 billion, compared withoperating loss of EUR 301 million in 2008. Operating margin of Nokia SiemensNetworks in 2009 was -13.0% compared with -2.0% in 2008. The increase inoperating loss in 2009 resulted primarily from a non tax deductible impairmentof goodwill charge of EUR 908 million and lower net sales, the impact of whichwas partially offset by lower cost of sales and lower operating expenses.2009 OPERATING HIGHLIGHTSNokia- Nokia formed Solutions, a new unit responsible for driving Nokia's offering ofsolutions, with the aim of integrating the mobile device, services and contentinto a unique and compelling offering for the consumer. The unit formallystarted operating on October 1, 2009.- Nokia announced changes to its Group Executive Board, with Robert Anderssonleaving Nokia's Group Executive Board as of September 30, 2009 in connectionwith his transfer to new duties in Nokia's Corporate Development unit; AlbertoTorres joining Nokia's Group Executive Board as of October 1, 2009 in connectionwith his appointment as head of the Solutions unit, and; Simon Beresford-Wylieleaving the Group Executive Board on September 30, 2009 after stepping down asChief Executive Officer of Nokia Siemens Networks.- Nokia announced that Rajeev Suri was appointed as Chief Executive Officer ofNokia Siemens Networks as of October 1, 2009.- Nokia continued to take action to adjust its business operations and cost basein accordance with market demand as well as seek savings in operationalexpenses, looking at all areas and activities across Devices & Services andglobal support functions. Actions included the closure of certain Nokiafacilities, the streamlining of Nokia's research and development organization,temporary lay-offs in production, and measures to increase efficiency in certainglobal support functions.- Nokia was named as the world's most sustainable technology company accordingto 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 5130 XpressMusic, an affordable handset optimized for music; the Nokia6303 classic, featuring a 3.2 megapixel camera, an Internet browser and longbattery life; and the Nokia 6700 classic, equipped with a 5 megapixel camera,assisted GPS navigation, and high speed data access.- To create additional value for users of our Mobile Phones, Nokia alsodeveloped its offering of services designed to be accessed with them: In Indiaand Indonesia, Nokia launched Nokia Life Tools, through which consumers canaccess timely and relevant agricultural information, as well as education andentertainment services, without requiring the use of GPRS or Internetconnectivity; Nokia also continued to expand Ovi Mail, a free email servicedesigned especially for users in emerging markets with Internet-enabled devices.- Nokia introduced Nokia Money, a new mobile financial service. The service isto be rolled out gradually to selected markets and will be operated incooperation with Obopay, a leading developer of mobile payment solutions inwhich Nokia invested.- Nokia strengthened its portfolio of Smartphones with new models such as the:Nokia N97 mini, a smaller companion to the Nokia N97, featuring a tilting 3.2"touch display and a fully customizable homescreen; the Nokia 5230, an affordabletouch smartphone that, in select markets, is available with Comes With Music;and the Nokia E72, a device designed especially for business use and messaging,featuring the latest consumer and corporate email solutions and simple InstantMessaging setup.- Building on the functionalities of Nokia's Smartphones and enhancing theirvalue for consumers, Nokia continued to develop Ovi, the Internet services brandunder which it has integrated many of its individual services to simplify theuser experience and differentiate it from competitors. For example, Nokialaunched Ovi Store, a one-stop shop for applications and content for millions ofNokia device users, and made available the Ovi SDK (software development kit),the Ovi Maps Player API (application programming interface) and the OviNavigation API, enabling the creation of sophisticated applications for the webas well as the Symbian and Maemo platforms.- Nokia commenced shipments of the Nokia N900, a handset that deliverscomputer-grade performance in a compact QWERTY and touch form factor. The NokiaN900 runs on Maemo, a desktop PC-like software architecture based on the opensource Linux software, and which Nokia is continuing to develop.- Nokia commenced shipments of the Nokia Booklet 3G, a new Windows 7-basedmini-laptop, built for all-day mobility and connectivity. Encased in anultra-portable aluminum chassis, the Nokia Booklet 3G runs for up to 12 hours ona single charge and has a broad range of connectivity options.- Nokia continued to partner with third party companies, operators, developersand content providers in areas that it believes could positively differentiateits Smartphones, as well as other Nokia mobile devices, from those offered bycompetitors. For example, partnering with operators, Nokia continued to growNokia Messaging, its push email and instant messaging service. Nokia alsocontinued 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' musicoffering. Additionally, Nokia formed a global alliance with Microsoft to designand market a suite of productivity applications for Nokia's Smartphones, andcommenced a partnership with Intel Corporation to develop a new class of Intel®Architecture-based mobile computing device and chipset architectures that willcombine the performance of powerful computers with high-bandwidth mobilebroadband communications and ubiquitous Internet connectivity.NAVTEQ? NAVTEQ announced the availability of Motorway Junction Objects, which enablesnavigation systems to display full 3D animation of complex junctions, inAustralia, Europe and North America with coverage of over 8 000 locations.? NAVTEQ announced that NAVTEQ Discover Cities(TM) reached a global pedestriannavigation milestone of 100 cities.? NAVTEQ announced the availability of NAVTEQ LocationPoint(TM), alocation-based advertising service for mobile applications, in several Europeancountries, as well as agreements with AAA, Loopt and Nextar in North America toutilize the offering.? NAVTEQ launched real time traffic in 11 European countries and expanded NAVTEQTraffic Patterns(TM) to 9 European countries.? NAVTEQ launched maps in Chile, Venezuela, Iceland and Croatia, along with asignificant increase in major city coverage in its India map to now encompass84 cities.? NAVTEQ announced that it signed an agreement with Samsung Electronicsproviding access to all countries in the NAVTEQ database as well as NAVTEQ'sVisual Content, Speed Limits, Extended Lanes and NAVTEQ Discover Cities(TM).? NAVTEQ announced a global technology agreement with Microsoft to allow therapid deployment of innovative collection capabilities, as well as acceleratingthe collection, creation and storage of 3D map data and visuals? NAVTEQ announced the integration of Nokia GPS data for availability in NAVTEQtraffic products in North America and Europe.Nokia Siemens Networks- Nokia Siemens Networks won 29 new 3G contracts during 2009, confirming itsindustry-leading position in wireless broadband. The company secured key dealsacross the globe including contracts with: Softbank in Japan; Telenor in Denmarkand Sweden; Megafon in Russia; Hutchison Telecom in Hong Kong; China Unicom andChina Mobile; Nuevatel in Bolivia; and Viettel and Vinaphone in Vietnam.- Nokia Siemens Networks took significant steps forward in LTE, making theworld's first LTE call and handover on commercial software and started LTEinteroperability tests with 4 leading device vendors. Nokia Siemens Networks hadby 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 firstcommercial deployments of LTE.- Nokia Siemens Networks was selected to provide LTE networks for Zain Bahrainand Telenor Denmark, taking commercial LTE references to six, including a dealwith Verizon, the United States operator, which selected Nokia Siemens Networksas a supplier of its IP Multi-Media Subsystem (IMS) network, which will enablerich 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 agreementsthat included contracts with Orange in the United Kingdom and Spain, Oi inBrazil, Zain in Nigeria and East Africa and Unitech in India.- In March, Nokia Siemens Networks extended its global services deliverycapability with the inauguration of a Global Networks Solutions Centre in Noida,India.- Nokia Siemens Networks announced a number of technological advances includingthe 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 theEvolved Packet Core for LTE that will enable operators to efficiently offer afull range of data, voice, and high-quality and real-time multimedia servicesover different wireless standards using the same open platform in the corenetwork.- Nokia Siemens Networks also launched new solutions including FlexiPacketMicrowave, a next generation full packet microwave solution which combinesCarrier Ethernet Transport with Microwave Radio, and charge(at)once unified
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