Nokia Siemens Networks Publishing Today Its Annual Report 2012; Includes Financial Information on a New Standalone Reporting

Nokia Siemens Networks Publishing Today Its Annual Report 2012; Includes 
Financial Information on a New Standalone Reporting Format 
ESPOO, FINLAND -- (Marketwire) -- 03/18/13 --   Report provides, on
standalone basis, financial information for two operating segments:
Mobile Broadband and Global Services 
Report includes reiteration of Nokia Siemens Networks' longer-term
financial
target and an estimate of mobile broadband market
development for 2013 
Nokia Corporation Stock exchange release March 18, 2013 at 15.30
(CET+1) 
Espoo, Finland - Nokia announced that Nokia Siemens Networks is today
publishing
its annual report for 2012 that includes the Nokia Siemens
Networks B.V. consolidated audited annual accounts, the review by the
CEO and the review by
the Board Chairman. The publication will be
submitted to the Netherlands Trade
Register and will be available
shortly in pdf-format through http://www.nokia.com/financials and
Nokia Siemens Networks' Internet pages
at
http://www.nokiasiemensnetworks.com/about-us/company/financial. 
Notable information 
In this annual report, Nokia Siemens Networks reiterates that,
longer-term, Nokia Siemens Networks continues to target for its
non-IFRS operating margin to be between 5% and 10%. 
Also, Nokia Siemens Networks notes in the Chairman's review that
Nokia Siemens
Networks expects the mobile broadband market to be
relatively flat in 2013, compared to 2012. 
In the report, Nokia Siemens Networks discloses that, for financial
reporting
purposes on a standalone basis, it currently has two
operating segments: Mobile
Broadband and Global Services. Nokia
Siemens Networks provides detailed disclosure of certain financial
information for these operating segments including net sales and
operating profit on a non-IFRS before specific items
basis for 2012,
2011, and 2010. In 2012, Nokia Siemens Networks' Mobile Broadband net
sales were EUR 6.0 billion and operating profit non-IFRS
before
specific items was EUR 488 million, or 8.1% of net sales. In
2012, Nokia Siemens
Networks' Global Services net sales were EUR 6.9
billion and operating profit
non-IFRS before specific items was EUR
332 million, or 4.8% of net sales. In
2011, Nokia Siemens Networks'
Mobile Broadband net sales were EUR 6.3 billion
and operating profit
non-IFRS before specific items was EUR 214 million, or 3.4% of net
sales. In 2011, Nokia Siemens Networks' Global Services net
sales
were EUR 6.7 billion and operating profit non-IFRS before
specific items was EUR 229 million, or 3.4% of net sales. For Nokia
Group financial reporting purposes
Nokia Siemens Networks remains as
one reportable segment. 
NON-IFRS BEFORE SPECIFIC ITEMS INFORMATION This release includes
information on a non-IFRS, or underlying business performance, basis
that excludes specific items for all periods. In addition,
such
results exclude intangible asset amortization, other purchase price
accounting related items and inventory value adjustments arising from
the formation of Nokia Siemens Networks and from all business
acquisitions. Nokia
believes that these financial measures provide
meaningful supplemental information to both management and investors
regarding Nokia's performance by
excluding the above-described items
that may not be indicative of business operating results. These
financial measures should not be viewed in isolation or as
substitutes to the equivalent IFRS measure(s), but should be used in
conjunction with the most directly comparable IFRS measure(s) in the
reported
results. 
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, 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 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; 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 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 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
Siemens 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
Siemens Networks' success in implementing its restructuring plan and
reducing its operating expenses and other costs; 33) Nokia Siemens
Networks' ability to invest in and timely introduce new competitive
products, services, upgrades and technologies; 34) Nokia
Siemens
Networks' dependence on limited number of customers and
large, multi-year contracts; 35) Nokia Siemens 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
Siemens 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;
38) 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 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. 
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. 
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#1685871] 
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