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Nokia Updates Mobile Device Market Estimates for 2010 Based on its Revised Definition of the Industry Mobile Device Market Applied to its Reporting Beginning in 2010
Nokia Filed Form 20-F for 2009 With the US Securities and Exchange Commission
ESPOO, Finland, March 12, 2010-- Nokia (NYSE: NOK) filed its annual report on Form 20-F for 2009 with the
US Securities and Exchange Commission today, and revised its definition of
the industry mobile device market applicable to its reporting beginning in
2010. Nokia also updated its mobile device market estimates for 2010 based on
the revised definition.
Beginning in 2010, Nokia is revising its definition of the industry
mobile device market that it uses to estimate industry volumes. This is due
to improved measurement processes and tools that enable Nokia to have better
visibility to estimate the number of mobile devices sold by certain new
entrants in the global mobile device market. These include vendors of
legitimate, as well as unlicensed and counterfeit, products with
manufacturing facilities primarily centered around certain locations in Asia
and other emerging markets.
For comparative purposes only going forward, applying the revised
definition and improved measurement processes and tools that we are using
beginning in 2010 retrospectively to 2009, Nokia estimates that industry
mobile device volumes in 2009 would have been 1.26 billion units. Based on
the industry mobile device market definition used in 2009, Nokia estimated
that industry mobile device volumes were 1.14 billion units. Similarly, for
comparative purposes only going forward, applying the revised definition
retrospectively to 2009, Nokia estimates that its mobile device volume market
share would have been 34% in 2009 on an annual basis. Based on the industry
mobile device market definition used in 2009, Nokia's volume market share
estimate was 38%. The respective quarterly volume market shares would have
been 32% during the first quarter of 2009 (37% based on the 2009 definition),
35% during the second quarter of 2009 (38% based on the 2009 definition), 34%
during the third quarter of 2009 (38% based on the 2009 definition) and 35%
during the fourth quarter of 2009 (39% based on the 2009 definition). Nokia
is not able to apply the revised definition and improved measurement
processes and tools retrospectively to its estimated industry mobile device
volumes or Nokia's estimated volume market share in 2008 due to lack of
visibility and data. Thus, the industry mobile device volumes estimated for
2008 and Nokia's volume market share estimated for 2008 are not comparable
with the industry mobile device volumes estimates or Nokia's volume market
share estimates based on the revised definition.
Applying its revised definition of the industry mobile device market
applicable beginning in 2010 on a comparable year-over-year basis, - Nokia
expects industry mobile device volumes to be up approximately 10% in 2010,
compared to 2009; - Nokia targets its mobile device volume market share to be
flat in 2010, compared to 2009; and - Nokia targets to increase its mobile
device value market share slightly in 2010, compared to 2009.
These expectations and targets are the same as announced by Nokia on
January 28, 2010 while now applying the revised market definition.
The Nokia annual report on Form 20-F for 2009 is available in pdf format
at http://www.nokia.com/financials. Shareholders may request a hard copy of
the report free of charge through Nokia's Internet pages.
About Nokia
At Nokia, we are committed to connecting people. We combine advanced
technology with personalized services that enable people to stay close to
what matters to them. Every day, more than 1.2 billion people connect to one
another with a Nokia device - from mobile phones to advanced smartphones and
high-performance mobile computers. Today, Nokia is integrating its devices
with innovative services through Ovi (http://www.ovi.com), including music,
maps, apps, email and more. Nokia's NAVTEQ is a leader in comprehensive
digital mapping and navigation services, while Nokia Siemens Networks
provides equipment, services and solutions for communications networks
globally.
FORWARD-LOOKING STATEMENTS
It should be noted that certain statements herein which are not
historical facts are forward-looking statements, including, without
limitation, those regarding: A) the timing of the deliveries of our products
and services and their combinations; B) our ability to develop, implement and
commercialize new technologies, products and services and their combinations;
C) expectations regarding market developments and structural changes; D)
expectations and targets regarding our industry volumes, market share,
prices, net sales and margins of products and services and their
combinations; E) expectations and targets regarding our operational
priorities and results of operations; F) the outcome of pending and
threatened litigation; G) expectations regarding the successful completion of
acquisitions or restructurings on a timely basis and our ability to achieve
the financial and operational targets set in connection with any such
acquisition or restructuring; and H) statements preceded by "believe,"
"expect," "anticipate," "foresee," "target," "estimate," "designed," "plans,"
"will" or similar expressions. These statements are based 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 that
could cause these differences include, but are not limited to: 1) the
competitiveness and quality of our portfolio of products and services and
their combinations; 2) our ability to timely and successfully develop or
otherwise acquire the appropriate technologies and commercialize them as new
advanced products and services and their combinations, including our ability
to attract application developers and content providers to develop
applications and provide content for use in our devices; 3) our ability to
effectively, timely and profitably adapt our business and operations to the
requirements of the converged mobile device market and the services market;
4) 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; 5) the occurrence of
any actual or even alleged defects or other quality, safety or security
issues in our products and services and their combinations; 6) the
development of the mobile and fixed communications industry and general
economic conditions globally and regionally; 7) our ability to successfully
manage costs; 8) exchange rate fluctuations, including, in particular,
fluctuations 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; 9) the success, financial condition and performance of our
suppliers, collaboration partners and customers; 10) our ability to source
sufficient amounts of fully functional components, sub-assemblies, software,
applications and content without interruption and at acceptable prices and
quality; 11) our success in collaboration arrangements with third parties
relating to the development of new technologies, products and services,
including applications and content; 12) 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 and their
combinations; 13) our ability to manage our inventory and timely adapt our
supply to meet changing demands for our products; 14) our ability to protect
the complex technologies, which we or others develop or that 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 products and services and their combinations; 15) our
ability to protect numerous Nokia, NAVTEQ and Nokia Siemens Networks
patented, standardized or proprietary technologies from third-party
infringement or actions to invalidate the intellectual property rights of
these technologies; 16) the impact of changes in government policies, trade
policies, laws or regulations and economic or political turmoil in countries
where our assets are located and we do business; 17) any disruption to
information technology systems and networks that our operations rely on; 18)
our ability to retain, motivate, develop and recruit appropriately skilled
employees; 19) unfavorable outcome of litigations; 20) allegations of
possible health risks from electromagnetic fields generated by base stations
and mobile devices and lawsuits related to them, regardless of merit; 21) our
ability to achieve targeted costs reductions and increase profitability in
Nokia Siemens Networks and to effectively and timely execute related
restructuring measures; 22) developments under large, multi-year contracts or
in relation to major customers in the networks infrastructure and related
services business; 23) the management of our customer financing exposure,
particularly in the networks infrastructure and related services business;
24) whether ongoing or any additional governmental investigations into
alleged violations of law by some former employees of Siemens AG ("Siemens")
may involve and affect the carrier-related assets and employees transferred
by Siemens to Nokia Siemens Networks; 25) any impairment of Nokia Siemens
Networks customer relationships resulting from ongoing or any additional
governmental investigations involving the Siemens carrier-related operations
transferred to Nokia Siemens Networks; as well as the risk factors specified
on pages 11-32 of Nokia's annual report Form 20-F for the year ended December
31, 2009 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.
http://www.nokia.com
Source: Nokia Corporation
Media Enquiries: Nokia Communications, Tel. +358-7180-34900, Email: press.services@nokia.com. Investor Relations Europe, Tel. +358-7180-34927. Investor Relations US, Tel. +1-914-368-0555
Nokia Updates Mobile Device Market Estimates for 2010 Based on its Revised Definition of the Industry Mobile Device Market Applied to its Reporting Beginning in 2010
Nokia Filed Form 20-F for 2009 With the US Securities and Exchange Commission
ESPOO, Finland, March 12, 2010-- Nokia (NYSE: NOK) filed its annual report on Form 20-F for 2009 with the
US Securities and Exchange Commission today, and revised its definition of
the industry mobile device market applicable to its reporting beginning in
2010. Nokia also updated its mobile device market estimates for 2010 based on
the revised definition.
Beginning in 2010, Nokia is revising its definition of the industry
mobile device market that it uses to estimate industry volumes. This is due
to improved measurement processes and tools that enable Nokia to have better
visibility to estimate the number of mobile devices sold by certain new
entrants in the global mobile device market. These include vendors of
legitimate, as well as unlicensed and counterfeit, products with
manufacturing facilities primarily centered around certain locations in Asia
and other emerging markets.
For comparative purposes only going forward, applying the revised
definition and improved measurement processes and tools that we are using
beginning in 2010 retrospectively to 2009, Nokia estimates that industry
mobile device volumes in 2009 would have been 1.26 billion units. Based on
the industry mobile device market definition used in 2009, Nokia estimated
that industry mobile device volumes were 1.14 billion units. Similarly, for
comparative purposes only going forward, applying the revised definition
retrospectively to 2009, Nokia estimates that its mobile device volume market
share would have been 34% in 2009 on an annual basis. Based on the industry
mobile device market definition used in 2009, Nokia's volume market share
estimate was 38%. The respective quarterly volume market shares would have
been 32% during the first quarter of 2009 (37% based on the 2009 definition),
35% during the second quarter of 2009 (38% based on the 2009 definition), 34%
during the third quarter of 2009 (38% based on the 2009 definition) and 35%
during the fourth quarter of 2009 (39% based on the 2009 definition). Nokia
is not able to apply the revised definition and improved measurement
processes and tools retrospectively to its estimated industry mobile device
volumes or Nokia's estimated volume market share in 2008 due to lack of
visibility and data. Thus, the industry mobile device volumes estimated for
2008 and Nokia's volume market share estimated for 2008 are not comparable
with the industry mobile device volumes estimates or Nokia's volume market
share estimates based on the revised definition.
Applying its revised definition of the industry mobile device market
applicable beginning in 2010 on a comparable year-over-year basis, - Nokia
expects industry mobile device volumes to be up approximately 10% in 2010,
compared to 2009; - Nokia targets its mobile device volume market share to be
flat in 2010, compared to 2009; and - Nokia targets to increase its mobile
device value market share slightly in 2010, compared to 2009.
These expectations and targets are the same as announced by Nokia on
January 28, 2010 while now applying the revised market definition.
The Nokia annual report on Form 20-F for 2009 is available in pdf format
at http://www.nokia.com/financials. Shareholders may request a hard copy of
the report free of charge through Nokia's Internet pages.
About Nokia
At Nokia, we are committed to connecting people. We combine advanced
technology with personalized services that enable people to stay close to
what matters to them. Every day, more than 1.2 billion people connect to one
another with a Nokia device - from mobile phones to advanced smartphones and
high-performance mobile computers. Today, Nokia is integrating its devices
with innovative services through Ovi (http://www.ovi.com), including music,
maps, apps, email and more. Nokia's NAVTEQ is a leader in comprehensive
digital mapping and navigation services, while Nokia Siemens Networks
provides equipment, services and solutions for communications networks
globally.
FORWARD-LOOKING STATEMENTS
It should be noted that certain statements herein which are not
historical facts are forward-looking statements, including, without
limitation, those regarding: A) the timing of the deliveries of our products
and services and their combinations; B) our ability to develop, implement and
commercialize new technologies, products and services and their combinations;
C) expectations regarding market developments and structural changes; D)
expectations and targets regarding our industry volumes, market share,
prices, net sales and margins of products and services and their
combinations; E) expectations and targets regarding our operational
priorities and results of operations; F) the outcome of pending and
threatened litigation; G) expectations regarding the successful completion of
acquisitions or restructurings on a timely basis and our ability to achieve
the financial and operational targets set in connection with any such
acquisition or restructuring; and H) statements preceded by "believe,"
"expect," "anticipate," "foresee," "target," "estimate," "designed," "plans,"
"will" or similar expressions. These statements are based 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 that
could cause these differences include, but are not limited to: 1) the
competitiveness and quality of our portfolio of products and services and
their combinations; 2) our ability to timely and successfully develop or
otherwise acquire the appropriate technologies and commercialize them as new
advanced products and services and their combinations, including our ability
to attract application developers and content providers to develop
applications and provide content for use in our devices; 3) our ability to
effectively, timely and profitably adapt our business and operations to the
requirements of the converged mobile device market and the services market;
4) 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; 5) the occurrence of
any actual or even alleged defects or other quality, safety or security
issues in our products and services and their combinations; 6) the
development of the mobile and fixed communications industry and general
economic conditions globally and regionally; 7) our ability to successfully
manage costs; 8) exchange rate fluctuations, including, in particular,
fluctuations 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; 9) the success, financial condition and performance of our
suppliers, collaboration partners and customers; 10) our ability to source
sufficient amounts of fully functional components, sub-assemblies, software,
applications and content without interruption and at acceptable prices and
quality; 11) our success in collaboration arrangements with third parties
relating to the development of new technologies, products and services,
including applications and content; 12) 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 and their
combinations; 13) our ability to manage our inventory and timely adapt our
supply to meet changing demands for our products; 14) our ability to protect
the complex technologies, which we or others develop or that 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 products and services and their combinations; 15) our
ability to protect numerous Nokia, NAVTEQ and Nokia Siemens Networks
patented, standardized or proprietary technologies from third-party
infringement or actions to invalidate the intellectual property rights of
these technologies; 16) the impact of changes in government policies, trade
policies, laws or regulations and economic or political turmoil in countries
where our assets are located and we do business; 17) any disruption to
information technology systems and networks that our operations rely on; 18)
our ability to retain, motivate, develop and recruit appropriately skilled
employees; 19) unfavorable outcome of litigations; 20) allegations of
possible health risks from electromagnetic fields generated by base stations
and mobile devices and lawsuits related to them, regardless of merit; 21) our
ability to achieve targeted costs reductions and increase profitability in
Nokia Siemens Networks and to effectively and timely execute related
restructuring measures; 22) developments under large, multi-year contracts or
in relation to major customers in the networks infrastructure and related
services business; 23) the management of our customer financing exposure,
particularly in the networks infrastructure and related services business;
24) whether ongoing or any additional governmental investigations into
alleged violations of law by some former employees of Siemens AG ("Siemens")
may involve and affect the carrier-related assets and employees transferred
by Siemens to Nokia Siemens Networks; 25) any impairment of Nokia Siemens
Networks customer relationships resulting from ongoing or any additional
governmental investigations involving the Siemens carrier-related operations
transferred to Nokia Siemens Networks; as well as the risk factors specified
on pages 11-32 of Nokia's annual report Form 20-F for the year ended December
31, 2009 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.
http://www.nokia.com
Source: Nokia Corporation
Media Enquiries: Nokia Communications, Tel. +358-7180-34900, Email: press.services@nokia.com. Investor Relations Europe, Tel. +358-7180-34927. Investor Relations US, Tel. +1-914-368-0555