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Company News

HIGHLIGHTS - Nokia Q2 results conference call

STOCKHOLM, July 22 (Reuters) - Nokia NOK1V.HE reported on Thursday a sharp drop in second-quarter profits, increasing the pressure on embattled Chief Executive Olli-Pekka Kallasvuo.

Following are highlights from a conference call with Nokia Chief Executive Olli-Pekka Kallasvuo and Chief Financial Officer Timo Ihamuotila on Thursday.

Latest comments

CEO ON SYMBIAN 3

“The operator response to Symbian 3 has been tremendous. Now it is really a question of getting the quality right...This is why we basically postponed Symbian 3 from Q2 to Q3 to get this right. That is really the thing that we need to get right because the traction is there and the products will resonate.

Now we are day-by-day closer to that time when that milestone will be met. We as a team...are strong believers in this case, strong, as a team.”

Earlier comments

CFO ON SMYBIAN 3

“The family (of Symbian 3 phones), using that word, and giving nothing more to it, will be there during Q4.”

CEO ON MEEGO:

“They (the Meego team) have been instructed, one might even use the word ordered, to give priority to the U.S. markets.”

CFO ON SYMBIAN 3

“We expect Symbian 3 to start shipping towards the end of Q3...We will have some impact in Q3, but the major, or bigger impact, will be in Q4.”

CEO ON HIGH END OF MARKET:

“We are approaching the end of this painful product transition at the high end of our product portfolio. The N8 will mark the beginning of our renewal. As we go forward I believe we will regain high-end leadership in our industry.”

CFO ON NOKIA SIEMENS:

“The issues that impacted (Nokia Siemens) sales in Q2, particularly component shortages, are expected to present challenges in Q3 as well.”

CEO KALLASVUO:

“It clear that the current situation is very tough at the high end (of the smartphone market) and we don’t expect it to get any easier in the third quarter.” He said the company expected to sell over 50 million Symbian devices over the next few years.

CEO ON EUROPE:

He said the company was approaching a “turning point” in the high end of our portfolio. “In the second half we expect to move from a weakenening competitive position to a strengthening competitive position”

CEO ON NOKIA SIEMENS:

“We estimate NSN lost upwards of 200 million euros in net sales as a result of these delays (in business activity in India)”

CEO ON DIVIDEND

“The dividend is our primary method of distributing cash to shareholders. We view the dividend as a top priority and we continue to manage our business accordingly.”

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