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Nokia Acquires Symbian Limited

December 2, 2008

ESPOO, Finland, December 2 /PRNewswire-FirstCall/ — Nokia (NYSE: NOK)
today announced that it has completed its offer to acquire Symbian Limited.
All conditions to Nokia’s offer to acquire Symbian Limited have been
satisfied and it has received valid acceptance of greater than 99.9% of the
total Symbian shares that Nokia did not already own. Symbian is the software
company that develops and licenses Symbian OS, the market-leading open
operating system for mobile devices.

The closing of the offer is a fundamental step in the establishment of
the Symbian Foundation, announced on June 24, 2008 by Nokia, together with
AT&T, LG Electronics, Motorola, NTT DOCOMO, Samsung, Sony Ericsson, ST-NXP
Wireless, Texas Instruments and Vodafone. More information about the planned
foundation can be found at http://www.symbianfoundation.org.

All Symbian employees are planned to become Nokia employees on February
1, 2009
.

About Nokia

Nokia is the world leader in mobility, driving the transformation and
growth of the converging Internet and communications industries. We make a
wide range of mobile devices with services and software that enable people to
experience music, navigation, video, television, imaging, games, business
mobility and more. Developing and growing our offering of consumer Internet
services, as well as our enterprise solutions and software, is a key area of
focus. We also provide 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) expectations regarding market growth, developments and
structural changes; D) expectations regarding our mobile device volume
growth, market share, prices and margins; E) expectations and targets for our
results of operations; F) the outcome of pending and threatened litigation;
G) 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 H) 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 impacts on us, our
customers, suppliers, and collaborative partners; 2) competitiveness of our
product, service and solutions portfolio; 3) the extent of the growth of the
mobile communications industry; 4) 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; 5) our
ability to successfully manage costs; 6) the intensity of competition in the
mobile communications industry and our ability to maintain or improve our
market position or respond successfully to changes in the competitive
landscape; 7) the impact of changes in technology and our ability to develop
or otherwise acquire complex technologies as required by the market, with
full rights needed to use; 8) timely and successful commercialization of
complex technologies as new advanced products, services and solutions; 9) 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
solution offerings; 10) our ability to protect numerous Nokia and Nokia
Siemens Networks patented, standardized or proprietary technologies from
third-party infringement or actions to invalidate the intellectual property
rights of these technologies; 11) Nokia Siemens Networks’ ability to achieve
the expected benefits and synergies from its formation to the extent and
within the time period anticipated and to successfully integrate its
operations, personnel and supporting activities; 12) whether, as a result of
investigations into alleged violations of law by some current or 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 ongoing violations that may have
occurred after the transfer, of such assets and employees that could result
in additional actions by government authorities; 13) 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; 14) occurrence of any actual or even alleged
defects or other quality issues in our products, services and solutions; 15)
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; 16) inventory management risks resulting from shifts
in market demand; 17) our ability to source sufficient amounts of fully
functional components and sub-assemblies without interruption and at
acceptable prices; 18) any disruption to information technology systems and
networks that our operations rely on; 19) developments under large,
multi-year contracts or in relation to major customers; 20) economic or
political turmoil in emerging market countries where we do business; 21) our
success in collaboration arrangements relating to development of technologies
or new products, services and solutions; 22) the success, financial condition
and performance of our collaboration partners, suppliers and customers; 23)
exchange rate fluctuations, including, in particular, fluctuations between
the euro, which is our reporting currency, and the US dollar, the Chinese
yuan, the UK pound sterling and the Japanese yen, as well as certain other
currencies; 24) the management of our customer financing exposure; 25)
allegations of possible health risks from electromagnetic fields generated by
base stations and mobile devices and lawsuits related to them, regardless of
merit; 26) unfavorable outcome of litigations; 27) our ability to recruit,
retain and develop appropriately skilled employees; 28) the impact of changes
in government policies, laws or regulations; and 29) our ability to
effectively and smoothly implement our new organizational structure; as well
as the risk factors specified on pages 10-25 of Nokia’s annual report on Form
20-F for the year ended December 31, 2007 under “Item 3.D 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 update publicly or revise forward-looking statements, whether
as a result of new information, future events or otherwise, except to the
extent legally required.

Symbian and all Symbian based trademarks and logos are trademarks of
Symbian Software Limited. Until the Symbian Foundation has become fully
operational, Symbian Software Limited retains exclusive responsibility for
all licensing and marketing activities related to Symbian OS.

http://www.nokia.com

SOURCE Nokia Corporation


Source: newswire



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