Nokia Streamlines Production Support and Administrative Activities in its Demand...

Nokia Streamlines Production Support and Administrative Activities in its
Demand Supply Network Management Operations
Nokia Continues to Increase Cost-Efficiency and Adapt to Market Situation

ESPOO, Finland, May 19 /PRNewswire-FirstCall/ -- As part of its
previously announced plans to increase cost-efficiency and adapt to the
market situation, Nokia (NYSE: NOK) today announced plans to adjust
activities in its Demand Supply Network Management organization, which is
responsible for production and logistics for Nokia mobile devices. The plans
affect globally approximately 170 employees working in logistics, production
management and production support. The plans do not affect production
employees at Nokia's mobile device manufacturing facilities.
Where applicable, Nokia will start consultations with employee
representatives about these plans.
Voluntary Resignation Package for 320 production employees at Salo
manufacturing facility
In addition, Nokia today announced a targeted Voluntary Resignation
Package for employees at its mobile device manufacturing facility in Salo,
Finland. "The earlier Voluntary Resignation Package we offered to 1 000 Nokia
employees in February raised a lot of interest among production employees,
who were excluded from this particular global program," said Ville Valtonen,
head of Human Resources of Nokia in Finland. "We now want to offer this
opportunity to our production employees in Salo, as we continue to adjust
capacity according to market demand."
This targeted Voluntary Resignation Package will be available for up to
320 employees working at the Salo manufacturing facility from June 1, and
will close on June 30, 2009, at the latest.
These measures are part of Nokia's previously announced plans to adjust
its business operations and cost base in accordance with market demand and
safeguard future competitiveness. Nokia continues to seek savings in
operational expenses, looking at all areas and activities across the company.
About Nokia
Nokia is the world's number one manufacturer of mobile devices by market
share and a leader in the converging Internet and communications industries.
We make a wide range of devices for all major consumer segments and offer
Internet services that enable people to experience music, maps, media,
messaging and games. We also provide comprehensive digital map information
through NAVTEQ and equipment, solutions and services for communications
networks through Nokia Siemens Networks.
FORWARD-LOOKING STATEMENTS
It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding: A) the
timing of product, services and solution deliveries; B) our ability to
develop, implement and commercialize new products, services, solutions and
technologies; C) our ability to develop and grow our consumer Internet
services business; D) expectations regarding market developments and
structural changes; E) expectations regarding our mobile device volumes,
market share, prices and margins; F) expectations and targets for our results
of operations; G) the outcome of pending and threatened litigation; H)
expectations regarding the successful completion of contemplated acquisitions
on a timely basis and our ability to achieve the set targets upon the
completion of such acquisitions; and I) statements preceded by "believe,"
"expect," "anticipate," "foresee," "target," "estimate," "designed," "plans,"
"will" or similar expressions are forward-looking statements. 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 that could cause these differences include, but are
not limited to: 1) the deteriorating global economic conditions and related
financial crisis and their impact on us, our customers and end-users of our
products, services and solutions, our suppliers and collaborative partners;
2) the development of the mobile and fixed communications industry, as well
as the growth and profitability of the new market segments that we target and
our ability to successfully develop or acquire and market products, services
and solutions in those segments; 3) the intensity of competition in the
mobile and fixed communications industry and our ability to maintain or
improve our market position or respond successfully to changes in the
competitive landscape; 4) competitiveness of our product, services and
solutions portfolio; 5) our ability to successfully manage costs; 6) exchange
rate fluctuations, including, in particular, fluctuations between the euro,
which is our reporting currency, and the US dollar, the Japanese yen, the
Chinese yuan and the UK pound sterling, as well as certain other currencies;
7) the success, financial condition and performance of our suppliers,
collaboration partners and customers; 8) our ability to source sufficient
amounts of fully functional components, sub-assemblies, software and content
without interruption and at acceptable prices; 9) the impact of changes in
technology and our ability to develop or otherwise acquire and timely and
successfully commercialize complex technologies as required by the market;
10) the occurrence of any actual or even alleged defects or other quality,
safety or security issues in our products, services and solutions; 11) the
impact of changes in government policies, trade policies, laws or regulations
or political turmoil in countries where we do business; 12) our success in
collaboration arrangements with others relating to development of
technologies or new products, services and solutions; 13) our ability to
manage efficiently our manufacturing and logistics, as well as to ensure the
quality, safety, security and timely delivery of our products, services and
solutions; 14) inventory management risks resulting from shifts in market
demand; 15) our ability to protect the complex 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,
services and solutions; 16) our ability to protect numerous Nokia, NAVTEQ and
Nokia Siemens Networks patented, standardized or proprietary technologies
from third-party infringement or actions to invalidate the intellectual
property rights of these technologies; 17) any disruption to information
technology systems and networks that our operations rely on; 18) developments
under large, multi-year contracts or in relation to major customers; 19) the
management of our customer financing exposure; 20) our ability to retain,
motivate, develop and recruit appropriately skilled employees; 21) whether,
as a result of investigations into alleged violations of law by some former
employees of Siemens AG ("Siemens"), government authorities or others take
further actions against Siemens and/or its employees that may involve and
affect the carrier-related assets and employees transferred by Siemens to
Nokia Siemens Networks, or there may be undetected additional violations that
may have occurred prior to the transfer, or violations that may have occurred
after the transfer, of such assets and employees that could result in
additional actions by government authorities; 22) any impairment of Nokia
Siemens Networks customer relationships resulting from the ongoing government
investigations involving the Siemens carrier-related operations transferred
to Nokia Siemens Networks; 23) unfavorable outcome of litigations; 24)
allegations of possible health risks from electromagnetic fields generated by
base stations and mobile devices and lawsuits related to them, regardless of
merit; as well as the risk factors specified on pages 11-28 of Nokia's annual
report on Form 20-F for the year ended December 31, 2008 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.
http://www.nokia.com
SOURCE Nokia Corporation

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