Nokia commits further $250 million in venture funding for mobile ecosystem

Nokia commits further $250 million in venture funding for mobile ecosystem 
SUNNYVALE, CA and ESPOO, FINLAND -- (Marketwire) -- 01/29/13 -- 
Nokia Growth Partners expands presence in China with two senior hires 
Nokia Growth Partners (NGP), a global venture firm, today announced
the launch of its third fund with a further US$250 million
long term
commitment from Nokia. 
Nokia Growth Partners will continue to invest in high potential
businesses within the mobile ecosystem in the U.S., Europe and Asia.
NGP also announced its expanded presence in China with the
appointments of David Tang as managing director and Lu Guo as
principal. 
"Over the past decade, Nokia has developed an innovative venturing
strategy,"
said Timo Ihamuotila, Nokia executive vice president &
chief financial officer.
"Our ongoing commitment to Nokia Growth
Partners reinforces Nokia's support for
a vibrant mobile ecosystem
and our determination to collaborate with industry
innovators to
build great mobile products." 
"Nokia Growth Partners is delighted with Nokia's continuing
commitment, which
recognizes strong financial performance since our
formation in 2005," said John
Gardner, managing partner of Nokia
Growth Partners. "What sets NGP apart from
pure financial investors
are the partnerships and insights our invested companies get from
their close association with Nokia. In the past year, NGP has also
realized several successful exits, including the IPOs of Morpho and
Inside
Secure and sales of Swype, Summit Microelectronics and
Netmagic. We are excited
about our existing strong portfolio of
companies and their potential impact globally." 
"We are pleased to welcome David Tang and Lu Guo to the NGP team and
look forward to their contributions to our ongoing investment
activities in China, an important market for Nokia," said Paul Asel,
managing partner of Nokia Growth
Partners. "David Tang is well known
in the Chinese venture community as an advisor to leading mobile
businesses such as UCWeb and Ganji. NGP has enjoyed a long
relationship with Mr. Tang during his earlier tenure as vice chairman
of
Nokia China." 
David Tang and Lu Guo together have over 35 years global technology
and investment experience.  David Tang joins Nokia Growth Partners
from AMD where he was Corporate Senior Vice P
resident and President
of AMD China. Lu Guo joins
from Keytone Ventures where he was Vice
President responsible for mobile and
Internet investments. They will
be based in Beijing. 
FORWARD-LOOKING STATEMENTS 
It should be noted that Nokia and its business is 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 and regulatory
proceedings; 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,
acquisitions and divestments; 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 success in the smartphone market, including our
ability to
introduce and bring to market quantities of attractive,
competitively
priced Nokia products that operate on the  Windows
Phone operating system that
are positively differentiated from our
competitors' products, both outside and
within the Windows Phone
ecosystem; 2) our ability to make Nokia products that
operate on the
Windows Phone operating system a competitive choice for consumers,
and together with Microsoft, our success in encouraging and
supporting a competitive and profitable global ecosystem for Windows
Phone products that achieves sufficient scale, value and
attractiveness to all market
participants; 3) reduced demand for, and
net sales of, Nokia Lumia products that
operate on the Windows Phone
7 operating system as a result of increasing availability of Nokia
Lumia products with the new Windows Phone 8 operating system; 4) the
expected continuing decline of sales of Symbian devices and
the
significantly diminishing viability of the Symbian smartphone
platform; 5) our
ability to produce attractive and competitive
devices in our Mobile Phones business unit including feature phones
and devices with more smartphone-like
features such as full touch
devices, in a timely and cost efficient manner with
differentiated
hardware, software, localized services and applications; 6)
our
ability to effectively and timely implement planned changes to
our operational
structure, including the planned restructuring
measures, and to successfully
complete the planned investments,
acquisitions and divestments in order to improve our operating model
and achieve targeted efficiencies and reductions in operating
expenses as well as our ability to accurately estimate the
related
restructuring charges and restructuring related cash
outflows;  7) our future
sales performance, among other factors, may
require us to recognize allowances
related to excess component
inventory, future purchase commitments and inventory
write-offs  in
our Devices & Services business;  8) our ability to realize a
return
on our investment in next generation devices, platforms and user
experiences; 9) 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; 10) our ability to retain, motivate, develop and recruit
appropriately skilled employees; 11) the
success of our Location &
Commerce strategy, including our ability to establish
a successful
location-based platform, extend our location-based  services
across
devices and operating systems, provide support for our Devices
& Services business and create new sources of revenue from our
location-based services and
commerce assets; 12) our actual
performance in the short-term and long-term could be materially
different from our forecasts, which could impact future estimates of
recoverable value of our reporting units and may result in impairment
charges; 13) our success in collaboration and partnering
arrangements
with third parties, including Microsoft; 14) our ability
to increase our speed
of innovation, product development and
execution to bring new innovative and
competitive mobile products and
location-based or other services to the market
in a timely manner;
15) 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; 16) 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 and our ability to
maintain the existing sources of intellectual property related income
or establish new such sources; 17) our ability to maintain and
leverage our traditional strengths in the mobile product market if we
are unable to retain
the loyalty of our mobile operator and
distributor customers and consumers as a result of the implementation
of our strategies or other factors; 18) the success, financial
condition and performance of our suppliers, collaboration
partners
and customers; 19) 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;
20) our ability to source sufficient amounts of fully functional
quality components, sub-assemblies, software and
services on a timely
basis without interruption and on favorable terms, particularly as we
ramp our new Lumia smartphone devices; 21) our ability to
manage our
inventory and timely adapt our supply to meet changing demands
for
our products, particularly as we ramp our new Lumia smartphone
devices; 22) any
actual or even alleged defects or other quality,
safety and security issues in
our products; 23) the impact of a
cybersecurity breach or other factors leading
to any 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; 24) our ability
to successfully manage the pricing of our products and costs related
to our products and operations; 25) 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; 26) our ability to
protect the 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; 27) the
impact of economic, political,
regulatory or other developments on our sales,
manufacturing
facilities and assets located in emerging market countries; 28)
the
impact of changes in government policies, trade policies, laws or
regulations where our assets are located and where we do business;
29) the potential complex tax issues and obligations we may incur to
pay additional taxes in the various jurisdictions in which we do
business and our actual or
anticipated performance, among other
factors,
 could result in allowances related
to deferred tax assets,
30) any disruption to information technology systems and networks
that our operations rely on, which may be for instance caused by
our
inability to successfully and smoothly implement our plans to
streamline our IT organization including the transfer of some
activities and employees to strategic partners; 31) unfavorable
outcome of litigations and regulatory proceedings;  32) allegations
of possible health risks from electromagnetic fields generated by
base stations and mobile products and lawsuits related to
them,
regardless of merit; 33) Nokia Siemens Networks ability to implement
its
new strategy and restructuring plan effectively and in a timely
manner to improve its overall competitiveness and profitability; 34)
Nokia Siemens Networks' success in the mobile broadband and services
market and Nokia Siemens
Networks' ability to effectively and
profitably adapt its business and operations in a timely manner to
the increasingly diverse service needs of its
customers; 35) Nokia
Siemens Networks' ability to maintain or improve its market
position
or respond successfully to changes in the competitive environment;
36)
Nokia Siemens Networks' liquidity and its ability to meet its
working capital
requirements; 37) Nokia Siemens Networks' ability to
timely introduce new competitive products, services, upgrades and
technologies; 38) Nokia Siemens
Networks' ability to execute
successfully its strategy for the acquired Motorola
Solutions
wireless network infrastructure assets; 39) developments under
large,
multi-year contracts or in relation to major customers in the
networks infrastructure and related services business; 40) the
management of our customer
financing exposure, particularly in the
networks infrastructure and related services business; 41) whether
ongoing or any additional governmental investigations into 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; and 42) 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 13-47 of Nokia's annual
report on Form 20-F for the year ended December 31, 2011 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. 
About Nokia Growth Partners 
Nokia Growth Partners invests in companies that are changing the face
of mobility, communications and the internet. NGP offers industry
expertise, capital and an extensive network, enabling entrepreneurs to
build disruptive,
industry-changing companies and take them to the
global market.  With offices in the US, Europe, India and China, NGP
extends the reach of companies making their
products and services
local everywhere.Visit www.nokiagrowthpartners.com for
more
information. 
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. 
www.nokia.com 
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
that: 
(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#1673765] 
Media Enquiries: 
Nokia
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com
 
 
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