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Nokia completes acquisition of developers, technologies and intellectual property for imaging from Scalado


July 24, 2012 - ESPOO, FINLAND

Acquisition aims to bring outstanding imagingexperiences to Nokia Lumiasmartphones

Espoo, Finland and Lund, Sweden: Nokia announced today that it hascompleted theacquisition of all technologies and intellectual property from Scalado AB,originally announced on June 14, 2012. As part of the transaction,approximately50 world-class imaging specialists transferred to Nokia.

"We believe that this acquisition will strengthen Nokia's leading positioninmobile imaging and provide us with a great opportunity to create evenbetterimaging products and applications," said Jo Harlow, executive vicepresident,Smart Devices at Nokia. "We welcome the skilled and passionateprofessionalsfrom Scalado to Nokia and are excited to have them work with the rest ofourtalented and dedicated imaging experts to bring world-class imagingsolutions toour Nokia Lumia smartphones. The Nokia team is already responsible for manyleading innovations in mobile imaging and, together with the experts fromScalado, we aim at astonishing the world with new, outstanding imagingexperiences."

Lund has now become a key site for Nokia's imaging software forsmartphones, inaddition to Nokia's existing locations in Espoo and Tampere, Finland.

"We're excited to join Nokia at such an important time in its smartphonestory,"said Sami Niemi, co-founder of Scalado and now head of Capture & Relive,SmartDevices at Nokia. "The technologies and competences we've developed shouldhelpmove from taking photos to capturing memories and emotions."

More information can be found on the Nokia Conversations blog.

About Nokia

Nokia is a global leader in mobile communications whose products havebecome anintegral part of the lives of people around the world. Every day, more than1.3billion people use their Nokia to capture and share experiences, accessinformation, find their way or simply to speak to one another. Nokia'stechnological and design innovations have made its brand one of the mostrecognized in the world. For more information, visithttp://www.nokia.com/about-nokia

Forward Looking Statements

It should be noted that certain statements herein that are not historicalfactsare forward-looking statements, including, without limitation, thoseregarding:A) the expected plans and benefits of our partnership with Microsoft tobringtogether complementary assets and expertise to form a global mobileecosystemfor smartphones; B) the timing and expected benefits of our new strategies,including expected operational and financial benefits and targets as wellaschanges in leadership and operational structure; C) the timing of thedeliveriesof our products and services; D) our ability to innovate, develop, executeandcommercialize new technologies, products and services; E) expectationsregardingmarket developments and structural changes; F) expectations and targetsregarding our industry volumes, market share, prices, net sales and marginsofour products and services; G) expectations and targets regarding ouroperationalpriorities and results of operations; H) expectations and targets regardingcollaboration and partnering arrangements; I) the outcome of pending andthreatened litigation; J) expectations regarding the successful completionofrestructurings, investments, acquisitions and divestments on a timely basisandour ability to achieve the financial and operational targets set inconnectionwith any such restructurings, investments, acquisitions and divestments;and K)statements preceded by "believe," "expect," "anticipate," "foresee,""target,""estimate," "designed," "aim", "plans," "intends," "will" or similarexpressions. These statements are based on management's best assumptionsandbeliefs in light of the information currently available to it. Because theyinvolve risks and uncertainties, actual results may differ materially fromtheresults that we currently expect. Factors that could cause thesedifferencesinclude, but are not limited to: 1) our success in the smartphone market,including our ability to introduce and bring to market quantities ofattractive,competitively priced Nokia products with Windows Phone that are positivelydifferentiated from our competitors' products, both outside and within theWindows Phone ecosystem; 2) our ability to make Nokia products with WindowsPhone a competitive choice for consumers, and together with Microsoft, oursuccess in encouraging and supporting a competitive and profitable globalecosystem for Windows Phone smartphones that achieves sufficient scale,valueand attractiveness to all market participants; 3) reduced consumer demandforNokia smartphones that operate on current versions of the Windows Phoneplatformas consumers anticipate our launch and sales ramp-up of Nokia smartphoneswithnewer versions of the Windows Phone platform available from Microsoft,specifically the new Windows Phone 8 operating system; 4) the difficultiesweexperience in having a competitive offering of Symbian devices andmaintainingthe economic viability of the Symbian smartphone platform during thetransitionto Windows Phone as our primary smartphone platform; 5) our ability toeffectively and timely implement planned changes to our operationalstructure,including the planned restructuring measures, and to successfully completetheplanned investments, acquisitions and divestments in order to improve ouroperating model and achieve targeted efficiencies and reductions inoperatingexpenses; 6) our future sales performance, among other factors, may requireusto recognize allowances related to excess component inventory, futurepurchasecommitments and inventory write-offs in our Devices & Services business;7)our ability to realize a return on our investment in next generationdevices,platforms and user experiences; 8) our ability to produce attractive andcompetitive feature phones, including devices with more smartphone-likefeatures, in a timely and cost efficient manner with differentiatedhardware,software, localized services and applications; 9) the intensity ofcompetitionin the various markets where we do business and our ability to maintain orimprove our market position or respond successfully to changes in thecompetitive environment; 10) our ability to retain, motivate, develop andrecruit appropriately skilled employees; 11) the success of our Location &Commerce strategy, including our ability to maintain current sources ofrevenue,provide support for our Devices & Services business and create new sourcesofrevenue from our location-based services and commerce assets; 12) ouractualperformance in the short-term and long-term could be materially differentfromour forecasts, which could impact future estimates of recoverable value ofourreporting units and may result in impairment charges; 13) our success incollaboration and partnering arrangements with third parties, includingMicrosoft; 14) our ability to increase our speed of innovation, productdevelopment and execution to bring new innovative and competitive mobileproducts and location-based or other services to the market in a timelymanner;15) our dependence on the development of the mobile and communicationsindustry,including location-based and other services industries, in numerous diversemarkets, as well as on general economic conditions globally and regionally;16)our ability to protect numerous patented standardized or proprietarytechnologies from third-party infringement or actions to invalidate theintellectual property rights of these technologies; 17) our ability tomaintainand leverage our traditional strengths in the mobile product market if weareunable to retain the loyalty of our mobile operator and distributorcustomersand consumers as a result of the implementation of our strategies or otherfactors; 18) the success, financial condition and performance of oursuppliers,collaboration partners and customers; 19) our ability to manage efficientlyourmanufacturing and logistics, as well as to ensure the quality, safety,securityand timely delivery of our products and services; 20) our ability to sourcesufficient amounts of fully functional quality components, sub-assemblies,software and services on a timely basis without interruption and onfavorableterms; 21) our ability to manage our inventory and timely adapt our supplytomeet changing demands for our products; 22) any actual or even allegeddefectsor other quality, safety and security issues in our products; 23) theimpact ofa cybersecurity breach or other factors leading to any actual or allegedloss,improper disclosure or leakage of any personal or consumer data collectedby usor our partners or subcontractors, made available to us or stored in orthroughour products; 24) our ability to successfully manage the pricing of ourproductsand costs related to our products and operations; 25) exchange ratefluctuations, including, in particular, fluctuations between the euro,which isour reporting currency, and the US dollar, the Japanese yen and the Chineseyuan, as well as certain other currencies; 26) our ability to protect thetechnologies, which we or others develop or that we license, from claimsthat wehave infringed third parties' intellectual property rights, as well as ourunrestricted use on commercially acceptable terms of certain technologiesin ourproducts and services; 27) the impact of economic, political, regulatory orother developments on our sales, manufacturing facilities and assetslocated inemerging market countries; 28) the impact of changes in governmentpolicies,trade policies, laws or regulations where our assets are located and wherewe dobusiness; 29) the potential complex tax issues and obligations we may incurtopay additional taxes in the various jurisdictions in which we do businessandour actual or anticipated performance, among other factors, could result inallowances related to deferred tax assets; 30) any disruption toinformationtechnology systems and networks that our operations rely on; 31)unfavorableoutcome of litigations; 32) allegations of possible health risks fromelectromagnetic fields generated by base stations and mobile products andlawsuits related to them, regardless of merit; 33) Nokia Siemens Networksability to implement its new strategy and restructuring plan effectivelyand ina timely manner to improve its overall competitiveness and profitability;34)Nokia Siemens Networks' success in the telecommunications infrastructureservices market and Nokia Siemens Networks' ability to effectively andprofitably adapt its business and operations in a timely manner to theincreasingly diverse service needs of its customers; 35) Nokia SiemensNetworks'ability to maintain or improve its market position or respond successfullytochanges in the competitive environment; 36) Nokia Siemens Networks'liquidityand its ability to meet its working capital requirements; 37) Nokia SiemensNetworks' ability to timely introduce new competitive products, services,upgrades and technologies; 38) Nokia Siemens Networks' ability to executesuccessfully its strategy for the acquired Motorola Solutions wirelessnetworkinfrastructure assets; 39) developments under large, multi-year contractsor inrelation to major customers in the networks infrastructure and relatedservicesbusiness; 40) the management of our customer financing exposure,particularly inthe networks infrastructure and related services business; 41) whetherongoingor any additional governmental investigations into alleged violations oflaw bysome former employees of Siemens may involve and affect the carrier-relatedassets and employees transferred by Siemens to Nokia Siemens Networks; and42)any impairment of Nokia Siemens Networks customer relationships resultingfromongoing or any additional governmental investigations involving the Siemenscarrier-related operations transferred to Nokia Siemens Networks, as wellas therisk factors specified on pages 13-47 of Nokia's annual report on Form 20-Fforthe year ended December 31, 2011 under Item 3D. "Risk Factors." Otherunknown orunpredictable factors or underlying assumptions subsequently proving to beincorrect could cause actual results to differ materially from those in theforward-looking statements. Nokia does not undertake any obligation topubliclyupdate or revise forward-looking statements, whether as a result of newinformation, future events or otherwise, except to the extent legallyrequired.



This announcement is distributed by Thomson Reuters on behalf ofThomson 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

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