Nokia completes the acquisition of Siemens' stake in Nokia Siemens Networks
(Thomson Reuters ONE) -
Nokia Corporation
Stock Exchange Release
August 7, 2013 at 14.50 (CET +1)
Espoo, Finland - Nokia has completed the acquisition of Siemens' stake in Nokia
Siemens Networks. The transaction was originally announced on July 1, 2013.
In accordance with this transaction, the Siemens name is being phased out from
Nokia Siemens Networks' company name and branding. The new name and brand is
Nokia Solutions and Networks, also referred to as NSN, which will be used also
for financial reporting purposes.
Nokia Solutions and Networks is wholly owned by Nokia and will continue to be
consolidated by Nokia.
Rajeev Suri continues as CEO and Jesper Ovesen continues as Executive Chairman
of the NSN Board of Directors. The NSN Board of Directors has been adjusted to
the new ownership structure as the Siemens-appointed directors have resigned.
About Nokia
Nokia is a global leader in mobile communications whose products have become an
integral part of the lives of people around the world. Every day, more than 1.3
billion people use their Nokia to capture and share experiences, access
information, find their way or simply to speak to one another. Nokia's
technological and design innovations have made its brand one of the most
recognized in the world. For more information, visit http://www.nokia.com/about-
nokia.
NSN
NSN is the world's specialist in mobile broadband. From the first ever call on
GSM, to the first call on LTE, we operate at the forefront of each generation of
mobile technology. Our global experts invent the new capabilities our customers
need in their networks. We provide the world's most efficient mobile networks,
the intelligence to maximize the value of those networks, and the services to
make it all work seamlessly.
Disclaimer
Nokia Siemens Networks is renamed as Nokia Solutions and Networks, also referred
to as NSN, and the terms "Nokia Solutions and Networks", "NSN" and "Nokia
Siemens Networks" can be used interchangeably in this release.
FORWARD-LOOKING STATEMENTS
It should be noted that Nokia and its business are exposed to various risks and
uncertainties and certain statements herein that are not historical facts are
forward-looking statements, including, without limitation, those regarding: A)
the expected plans and benefits of our partnership with Microsoft to bring
together complementary assets and expertise to form a global mobile ecosystem
for smartphones; B) the timing and expected benefits of our strategies,
including expected operational and financial benefits and targets as well as
changes in leadership and operational structure; C) the timing of the deliveries
of our products and services; D) our ability to innovate, develop, execute and
commercialize new technologies, products and services; E) expectations regarding
market developments and structural changes; F) expectations and targets
regarding our industry volumes, market share, prices, net sales and margins of
our products and services; G) expectations and targets regarding our operational
priorities and results of operations; H) expectations and targets regarding
collaboration and partnering arrangements; I) the outcome of pending and
threatened litigation, regulatory proceedings or investigations by authorities;
J) expectations regarding the successful completion of restructurings,
investments, acquisitions and divestments on a timely basis and our ability to
achieve the financial and operational targets set in connection with any such
restructurings, investments, divestments and acquisitions, as well as any
expected plans and benefits related to or caused by such transactions; and K)
statements preceded by "believe," "expect," "anticipate," "foresee," "target,"
"estimate," "designed," "aim", "plans," "intends," "will" or similar
expressions. These statements are based on management's best assumptions and
beliefs in light of the information currently available to it. Because they
involve risks and uncertainties, actual results may differ materially from the
results that we currently expect. Factors, including risks and uncertainties
that could cause these differences include, but are not limited to: 1) our
ability to make the Windows Phone ecosystem a competitive and profitable global
ecosystem that achieves sufficient scale, value and attractiveness to relevant
market participants, making Nokia products with Windows Phone a competitive
choice for consumers; 2) our success in the smartphone market, including our
ability to introduce and bring to market quantities of attractive, competitively
priced Nokia products with Windows Phone that are positively differentiated from
our competitors' products, both outside and within the Windows Phone ecosystem;
3) our ability to produce attractive and competitive devices in our Mobile
Phones business unit, including feature phones and devices with features such as
full touch that can be categorized as smartphones, in a timely and cost
efficient manner with differentiated hardware, software, localized services and
applications; 4) the success of our HERE strategy, including our ability to
establish a successful location-based platform and extend our location-based
services across devices and operating systems; 5) our ability to provide support
for our Devices & Services business and maintain current and create new sources
of revenue from our location-based service and commerce assets; 6) our ability
to protect numerous patented standardized or proprietary technologies from
third-party infringement or actions to invalidate the intellectual property
rights of these technologies; 7) our ability to maintain the existing sources of
intellectual property related revenue and establish new such sources; 8) the
intensity of competition in the various markets where we do business and our
ability to maintain or improve our market position or respond successfully to
changes in the competitive environment; 9) our ability to keep momentum and
increase our speed of innovation, product development and execution in order to
bring new innovative and competitive mobile products and location-based or other
services to the market in a timely manner; 10) the success of our partnership
with Microsoft in connection with the Windows Phone ecosystem; 11) our ability
to effectively and smoothly implement the planned changes in our operational
structure and achieve targeted efficiencies and reductions in operating expenses
and our ability to complete the planned divestments and acquisition, including
obtaining any needed regulatory approvals; 12) our ability to retain, motivate,
develop and recruit appropriately skilled employees; 13) our dependence on the
development of the mobile and communications industry, including location-based
and other services industries, in numerous diverse markets, as well as on
general economic conditions globally and regionally; 14) our ability to maintain
and leverage our traditional strengths in the mobile products market, especially
if we are unable retain the loyalty of our mobile operator and distributor
customers and consumers as a result of the implementation of our strategies or
other factors; 15) the performance of the parties we partner and collaborate
with, including Microsoft and our ability to achieve successful collaboration or
partnering arrangements; 16) our ability to deliver our mobile products
profitably, in line with quality requirements and on time, especially if the
limited number of suppliers we depend on, many of which are geographically
concentrated with a majority based in Asia, fail to deliver sufficient
quantities of fully functional products, components, sub-assemblies, software
and services on favorable terms and in compliance with our supplier
requirements; 17) our ability to manage efficiently our manufacturing and
logistics, as well as to ensure the quality, safety, security and timely
delivery of our products and services; 18) any actual or even alleged defects or
other quality, safety and security issues in our products; 19) any inefficiency,
malfunction or disruption of a system or network that our operations rely on;
20) the impact of cybersecurity breach or other factors leading to an actual or
alleged loss, improper disclosure or leakage of any personal or consumer data
collected by us or our partners or subcontractors, made available to us or
stored in or through our products; 21) our ability to successfully manage the
pricing of our products and costs related to our products and our operations;
22) the potential complex tax issues and obligations we may face, including the
obligation to pay additional taxes in various jurisdictions and our actual or
anticipated performance, among other factors, could result in allowances related
to deferred tax assets; 23) exchange rate fluctuations, particularly between the
euro, which is our reporting currency, and the US dollar, the Japanese yen and
the Chinese yuan, as well as certain other currencies; 24) our ability to
protect the technologies, which we or others develop or which we license, from
claims that we have infringed third parties' intellectual property rights, as
well as our unrestricted use on commercially acceptable terms of certain
technologies in our product and services; 25) the impact of economic,
regulatory, political or other development on our sales, manufacturing
facilities and assets located in emerging market countries as well as the impact
of regulations against imports to those countries; 26) the impact of changes in
and enforcement of government policies, technical standards, trade policies,
laws or regulations in countries where our assets are located and where we do
business; 27) investigations or claims by contracting parties in relation to
exits from countries, areas or contractual arrangements; 28) unfavorable outcome
of litigation, regulatory proceedings or investigations by authorities; 29)
allegations of possible health risks from electromagnetic fields generated by
base stations and mobile devices, and the lawsuits and publicity related to
them, regardless of merit; 30) Nokia Solutions and Networks' (renamed from Nokia
Siemens Networks) success in the mobile broadband infrastructure and related
services market and its ability to effectively, profitably and timely adapt
business and operations to the diverse needs of its customers; 31) Nokia
Solutions and Networks' ability to maintain and improve its market position and
respond successfully to changes and competition in the mobile broadband
infrastructure and related services market; 32) Nokia Solutions and Networks'
success in implementing its restructuring plan and reducing its operating
expenses and other costs; 33) Nokia Solutions and Networks' ability to invest in
and timely introduce new competitive products, services, upgrades and
technologies; 34) Nokia Solutions and Networks' dependence on limited number of
customers and large, multi-year contracts; 35) Nokia Solutions and Networks'
liquidity and its ability to meet its working capital requirements, including
access to available credit under its financing arrangements and other credit
lines as well as cash at hand; 36) the management of Nokia Solutions and
Networks' customer financing exposure; 37) whether ongoing or any additional
governmental investigations of alleged violations of law by some former
employees of Siemens may involve and affect the carrier-related assets and
employees transferred by Siemens to Nokia Siemens Networks (renamed Nokia
Solutions and Networks); 38) any impairment of Nokia Solutions and Networks'
customer relationships resulting from ongoing or any additional governmental
investigations involving the Siemens carrier-related operations transferred to
Nokia Siemens Networks (renamed Nokia Solutions and Networks), as well as the
risk factors specified on pages 12-47 of Nokia's annual report on Form 20-F for
the year ended December 31, 2012 under Item 3D. "Risk Factors." Other unknown or
unpredictable factors or underlying assumptions subsequently proving to be
incorrect could cause actual results to differ materially from those in the
forward-looking statements. Nokia does not undertake any obligation to publicly
update or revise forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent legally required.
Media Enquiries:
Nokia
Communications
Tel. +358 7180 34900
Email: press.services(at)nokia.com
www.nokia.com
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NOKIA via Thomson Reuters ONE
[HUG#1721690]
Unternehmensinformation / Kurzprofil:
Datum: 07.08.2013 - 13:51 Uhr
Sprache: Deutsch
News-ID 285569
Anzahl Zeichen: 14201
contact information:
Town:
Espoo
Kategorie:
Business News
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