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

   NOKIA : Nokia commits further $250 million in venture funding for mobile

Nokia Growth Partners expands presence in China with two senior hires

Sunnyvale, CA and Espoo, Finland - 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 President 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.

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
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

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Source: NOKIA via Thomson Reuters ONE
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