NOKIA: Nokia brand licensee HMD Global is now the new home of Nokia phones

Nokia Corporation
Stock Exchange Release
December 1, 2016 at 12:00 (CET +1)

Nokia brand licensee HMD Global is now the new home of Nokia phones

Espoo, Finland - Nokia confirms that the strategic agreement covering branding
rights  and  intellectual  property  licensing  with  HMD  Global  Oy   (HMD), 
originally announced on May 18, 2016 has come into force.

HMD has today announced the completion of transactions between HMD, FIH Mobile
Limited (a  subsidiary of  Hon  Hai Precision  Industries trading  as  Foxconn 
Technology Group) and Microsoft, which means that HMD can begin operations  as 
the new home of  Nokia phones, under an  exclusive global brand license^1  for 
the next ten years.

Nokia branded feature phones remain one of the most popular choices of  mobile 
phone in many markets around the world  today and HMD will continue to  market 
them as part of an integrated portfolio, alongside a new range of  smartphones 
and tablets to be announced later by HMD.

Under the agreement, Nokia will receive royalty payments from HMD for sales of
every  Nokia  branded  mobile  phone  and  tablet,  covering  both  brand  and 
intellectual property rights. Nokia is not an investor or shareholder in HMD.

Brad Rodrigues, interim president of Nokia Technologies, said:

"We've been  overwhelmed by  the enthusiasm  shown around  the world  for  the 
return of  the  Nokia  brand to  smartphones.  The  HMD Global  team  has  the 
ambition, talent and  resources to  bring a  new generation  of Nokia  branded 
phones to market, and  we wish them  every success. I'm  sure our millions  of 
Nokia fans will be excited to see their new products!"

Today also sees the  return of Nokia  branded phones to  the Nokia website  at 
www.nokia.com/phones. The website for Nokia phones is operated by HMD.

^1 Excluding Japan

 

About Nokia

Nokia is a  global leader in  creating the  technologies at the  heart of  our 
connected world. Powered by the research and innovation of Nokia Bell Labs, we
serve communications  service providers,  governments, large  enterprises  and 
consumers,  with  the  industry's  most  complete,  end-to-end  portfolio   of 
products, services and licensing. 

From the  enabling  infrastructure for  5G  and  the Internet  of  Things,  to 
emerging applications in virtual  reality and digital  health, we are  shaping 
the future of technology to transform the human experience. www.nokia.com

Media Enquiries:

Nokia Communications
Tel. +358 (0) 10 448 4900
Email: press.services@nokia.com
 

Investor Enquiries:

Nokia Investor Relations
Tel. +358 4080 3 4080
Email: investor.relations@nokia.com

 

FORWARD-LOOKING STATEMENTS

It should be noted that Nokia and its businesses 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) expectations, plans  or benefits related  to our strategies  and 
growth management;  B)  expectations,  plans or  benefits  related  to  future 
performance of our businesses; C) expectations regarding market  developments, 
general economic  conditions  and  structural  changes;  D)  expectations  and 
targets regarding financial performance,  results, operating expenses,  taxes, 
currency exchange rates, hedging, cost savings and competitiveness, as well as
results of  operations;  E) timing  of  the  deliveries of  our  products  and 
services; F) expectations and  targets regarding collaboration and  partnering 
arrangements, joint-ventures or the creation of joint-ventures, as well as our
expected customer  reach; G)  outcome of  pending and  threatened  litigation, 
arbitration,   disputes,   regulatory   proceedings   or   investigations   by 
authorities; and H) statements preceded  by or including "believe,"  "expect," 
"anticipate," "foresee,"  "sees,"  "target,"  "estimate,"  "designed,"  "aim," 
"plans,"  "intends,"  "focus,"  "continue,"  "project,"  "should,"  "will"  or 
similar expressions.  These  statements are  based  on the  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 such  differences include,  but are  not 
limited to: 1)  our ability to  execute our strategy,  sustain or improve  the 
operational and financial performance of our business or correctly identify or
successfully pursue business  opportunities or  growth; 2)  our dependence  on 
general economic and market conditions and other developments in the economies
where we operate; 3)  our dependence on the  development of the industries  in 
which  we  operate,   including  the  cyclicality   and  variability  of   the 
telecommunications industry; 4) our exposure to regulatory, political or other
developments in various countries or  regions, including emerging markets  and 
the associated risks in relation to  tax matters and exchange controls,  among 
others; 5) our ability to effectively and profitably compete and invest in new
competitive high-quality  products, services,  upgrades and  technologies  and 
bring them to  market in a  timely manner; 6)  Nokia Technologies' ability  to 
maintain and establish new  sources of brand and  patent licensing income  and 
IPR-related revenues, particularly in the smartphone market; 7) our dependence
on IPR technologies, including those that we have developed and those that are
licensed to us, and the risk of associated IPR-related legal claims, licensing
costs and restrictions on use; 8) Nokia Technologies' ability to generate  net 
sales and profitability through licensing of the Nokia brand, the  development 
and sales of products and services,  as well as other business ventures  which 
may not  materialize as  planned;  9) the  impact  of unfavorable  outcome  of 
litigation, arbitration, agreement-related disputes or allegations of  product 
liability associated with our businesses;  10) exchange rate fluctuations,  as 
well as  hedging  activities; 11)  performance  failures by  our  partners  or 
failure to agree to partnering arrangements with third parties; as well as the
risk factors specified on  pages 69 to  87 of our annual  report on Form  20-F 
filed  on  April   1,  2016   under  "Operating  and   financial  review   and 
prospects-Risk factors", as  well as in  Nokia's other filings  with the  U.S. 
Securities and Exchange Commission. Other unknown or unpredictable factors  or 
underlying assumptions subsequently proven to be incorrect could cause  actual 
results to differ materially from those in the forward-looking statements.  We 
do 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.

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Source: NOKIA via Globenewswire
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