June 22, 2017 8:54 AM ET

Communications Equipment

Company Overview of Nokia Corporation

Company Overview

Nokia Corporation, together with its subsidiaries, provides network infrastructure and related services worldwide. The company operates through three segments: Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies. It offers mobile networking solutions, such as hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals; radio access network solutions; Internet protocol multimedia subsystem/voice over LTE, subscriber data management and other virtualized software infrastructure solutions; backhaul solutions; and network planning, implementation, operations, and maintenance solutions. The company also provides fixed ne...

Karaportti 3

Espoo,  02610

Finland

Founded in 1865

101,083 Employees

Phone:

358 1044 88000

Fax:

358 1044 81002

Key Executives for Nokia Corporation

President & Chief Executive Officer
Age: 49
Total Annual Compensation: €1.8M
Compensation as of Fiscal Year 2016.

Nokia Corporation Key Developments

Nokia Launches Portfolio of Digital Health Products

Nokia announced the availability of large, most comprehensive line of connected consumer health products in the market. Completing the transition of products from the Withings brand, Nokia trackers, scales, vital health devices and home products will now be available in-store and online. The Nokia digital health product line offers convenience, choice and accessibility for every lifestyle. From those desiring a healthy change without a drastic behavior overhaul, to those looking to maintain a healthy lifestyle, Nokia meets the widest range of consumer health needs. New products announced include Nokia Body, a BMI Wi-Fi connected scale, and Nokia BPM+, a compact blood pressure monitor with a flexible cuff. The redesigned Nokia Health Mate app functions as the heart of the ecosystem by giving users a 360-degree view of their well-being. The company is focused on transforming the dynamic between patients, doctors and the medical community with tools focused on the prevention of chronic conditions. Through its partnerships with institutions in medical research and clinical trials - including Scripps, the University of Pennsylvania, the Mayo Clinic, the American Medical Group Association, Stanford MedX, Ochsner Health System and the University of Helsinki - The company is committed to collaborating with leaders in the medical community to positively impact societal health worldwide. Redesigned Nokia Health Mate application offers tailored coaching solutions. Nokia Health Mate sits at the center of the digital health experience, collecting data from each device to provide insights and trends on weight, activity, sleep and blood pressure. Key features include: Enhanced navigation for the discovery of content, new wellness programs to help users reach health goals based on their specific health and well-being needs. These programs, endorsed by medical professionals, take users on a multi-week journey with tailored content and recommendations that adapt to each user's progress over time, five new programs including Sleep Smarter, Better Body (available for pre-order), Pregnancy Tracker, Healthier Heart and the Leaderboard are available on Health Mate to improve sleep, manage weight and fat mass, control blood pressure, manage weight gain during pregnancy, and get more active, tools to visualize progress towards goals, leading to stronger outcomes. The new Nokia Health Mate app is available for download on iOS and Android app stores. Nokia Body is a new BMI Wi-Fi connected scale at an affordable price complementing the existing line-up of Nokia connected scales including Body+ and Body Cardio. Body offers smart weight management for the entire family and provides high accuracy measurements via Position Control technology, a patented body position detector. Body features include: Weight Trend Screen: See progress during each weigh-in to stay motivated. BMI Insights: Instant access to BMI trend and data analysis over time to help users reach their goals. Automatic Wi-Fi Synchronization: Recognizes up to eight users with independent sync. Personalized Coaching: With the Nokia Health Mate app, users can personalize their goals within the app and track activity and food intake. Nutrition Tracking: Food tracking with MyFitnessPal. Body is available at health.nokia.com, Amazon.com and Best Buy and will retail for $59.95. Nokia BPM+: delivers blood pressure monitoring on the move. Now featuring a soft cuff, Nokia BPM+ is a new, compact blood pressure monitor providing users with an easy, more comfortable way to measure their blood pressure at home or when traveling. BPM+ measures systolic and diastolic blood pressure and heart rate. FDA-cleared and medical CE approved, BPM+ ensures accurate monitoring of blood pressure and heart rate over time, and can share data with users' medical professionals to prevent, manage and monitor the efficacy of treatment for conditions such as hypertension. BPM+ is available at health.nokia.com and Best Buy and will retail for $129.95. Nokia Body and Nokia BPM+ bolster company's line of digital health products. The portfolio of connected health devices from Nokia marries next-generation sensors within beautiful, premium products grounded in human-centric design. Connected Scales:Nokia Body Cardio, the world's most advanced connected scale featuring heart rate monitoring and Pulse Wave Velocity to assess overall heart health; and Body+, a body composition Wi-Fi scale. Activity and Sleep Trackers: Nokia Steel, a sleek activity and sleep tracking smart watch; and Go, a simple yet advanced activity and sleep tracker. Blood Pressure Monitor: Nokia BPM, a FDA-cleared and medical CE approved wireless blood pressure monitor. Other Technologies: Nokia Home, a video and air quality monitor; and Nokia Thermo, a Wi-Fi and Bluetooth connected temporal thermometer. All products are now available online at health.nokia.com and select retail stores including Best Buy, Amazon.com and Bed Bath & Beyond. The products will soon be available additional retailers including CVS, Target, Babies"R"Us and Apple.

Spark New Zealand Invests in Strategic Partnership with Nokia for Core Infrastructure to Prepare for 5G, Ultra-Broadband and IoT

Spark New Zealand announced that it is upgrading its core infrastructure with a three-year strategic partnership with Nokia, 7250 Interconnect Router R6 (IXR-R6) to address capacity and embrace architectural, evolution on the path to 5G, ultra-broadband and IoT. Nokia and Spark New Zealand announced that they are partnering to prepare New Zealand for the future with a step change in the capacity, flexibility and agility of Spark's core and backhaul IP/MPLS network. Unprecedented growth in demand for mobile and fixed broadband is driving the need for an upgrade, as Spark prepares for the move to 5G, ubiquitous ultra-broadband connectivity and rapid growth in IoT. It plans to further expand the capacity and agility of its transport network over the next two years to prepare for 5G. The expansion to 5G will also enable the fulfillment of the government's goals for rural expansion of broadband services, while helping Spark to lower delivery costs. The expanded capacity and agility of the network will also help spur innovation and new services, especially around the promising application of IoT technologies. The Nokia 7250 IXR-R6 addresses key network requirements for traffic growth and major architectural changes on the path to 5G. It features terabit capacity and high-port density delivered in a compact, ruggedized form factor. The Nokia 7250 IXR-R6 comes with advanced security features and a wide choice of interconnectivity options ranging from legacy SDH/SONET to high-speed, latency sensitive Ethernet, suitable for next-generation fronthaul interface (NGFI). The 7250 IXR-R6 enables cost-effective transport of both latency-sensitive and 'bursty' traffic, which makes it equally suitable for ultra-broadband as well as for new IoT-based services. Three year strategic partnership with Nokia providing best in class IP and Optics equipment and software to the Spark network, including the new Nokia 7250 platform This deal follows closely on the heels of Spark's launch of 200 Gb/s per wavelength fiber link using the Nokia PSS1830 Optical Transport Network.

Nokia Corporation and Lucent Technologies Inc. Announce Pricing and Early Results for Tender Offers and Consent Solicitation

Nokia Corporation announced the pricing and early results of its previously announced tender offers to purchase for cash: (i) the USD 300,000,000 6.50% debentures due January 15, 2028; (ii) the USD 1,360,000,000 6.45% debentures due March 15, 2029 issued by Lucent Technologies Inc.; and (iii) the USD 1,000,000,000 5.375% notes due March 15, 2019 issued by Nokia. Alcatel Lucent is a wholly-owned subsidiary of Nokia. The tender offers and consent solicitation are being made on the terms and subject to the conditions set out in the offer to purchase dated May 30, 2017. Capitalized terms not defined herein have the meaning ascribed to them in the offer to purchase. As of 5:00 p.m. (New York time) on June 12, 2017, according to information provided by Lucid Issuer Services Limited, an aggregate principal amount of Notes equal to USD 1,495,992,000 has been validly tendered and not validly withdrawn in the tender offers. Withdrawal rights for the tender offers expired at the early tender date. As a result, tendered Notes may no longer be withdrawn, except as required by law. Nokia has accepted for purchase (i) all ALU Notes validly tendered at or prior to the early tender date in full; and (ii) the 2019 Notes validly tendered at or prior to the early tender date with a pro-ration factor of 69.4277%, such that the total amount payable (excluding Accrued Interest) is approximately equal to the maximum acceptance amount of USD 1,500,000,000. Nokia hereby announced that it is exercising the early settlement election and the early settlement date will be June 14, 2017. The tender offers will expire at 11:59 p.m. (New York time) on June 26, 2017. Nokia reserves the right, subject to applicable law, at any time, for any reason, to extend the expiration date. Any such extension will be announced in the manner described in the offer to purchase. ALU Notes validly tendered after the early tender date (if any) will be accepted for purchase in full and none of the 2019 Notes validly tendered after the Early Tender Date (if any) will be accepted for purchase, as detailed in the offer to purchase. The final settlement date in respect of any such ALU Notes is expected to be June 28, 2017. Concurrently with the tender offers, Alcatel Lucent solicited consents from each holder of ALU Notes to certain proposed amendments to the indenture governing the ALU Notes. The proposed amendments will eliminate: (i) covenants in the ALU Indenture governing the ALU Notes with respect to (a) liens, (b) sale and leaseback transactions and (c) reports; and (ii) certain events of default with respect to the ALU Notes, other than certain events of default including the failure to pay principal of or premium, if any, on and interest on such ALU Notes, and bankruptcy. As of the early tender date, the requisite consents have been reached and the supplemental indenture has been executed. The supplemental indenture will become operative on the final settlement date. Holders who validly tendered and have not validly withdrawn their Notes at or prior to the early tender date will be eligible to receive the relevant early consideration. Holders who validly tender their Notes after the early tender date, but at or prior to the expiration date will be eligible to receive the relevant late consideration. In addition to the relevant early consideration or late consideration (as applicable), Nokia will also pay any applicable accrued interest in relation to the Notes accepted for purchase. On June 12, 2017, Nokia closed its offering of USD 500 million aggregate principal amount of 3.375% senior unsecured notes due 2022 and USD 500 million aggregate principal amount of 4.375% senior unsecured notes due 2027 registered under the U.S. Securities Act of 1933, as amended. The company intends to use the net proceeds of the new notes and cash on balance sheet to finance the repurchase of the Notes that are validly tendered and accepted for purchase pursuant to the tender offers and consent solicitation. Barclays Capital Inc., Citigroup Global Markets Limited, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as Joint Dealer Managers and Solicitation Agents for the Tender Offers and Consent Solicitation.

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