Nokia Siemens Networks Remains Committed to Long Term Wireless Leadership and Growing its Business in North America

July 25, 2009

ESPOO, Finland, July 25 /PRNewswire-FirstCall/ — Following the outcome*
of the auction for the CDMA and Long Term Evolution (LTE) assets of Nortel,
Nokia Siemens Networks (NYSE: NOK) remains focused on maintaining its
leadership in the global wireless infrastructure industry and sustaining its
recent momentum in the North American market.

“Our final offer for Nortel’s assets represented a fair price, and we did
not enter this process with a win-at-any-cost mindset,” said Bosco Novak,
Chief Markets Operations Officer, Nokia Siemens Networks. “Ours was an
opportunistic bid aimed at supporting the great progress we’ve made in North
in the past 18 months, and we are very confident that momentum will
continue to grow.”

Nokia Siemens Networks has transformed its North American business under
the leadership of region head Sue Spradley. The company announced on July 20,
it had won a contract with the new Canadian mobile operator Globalive
Wireless for the roll-out of a 3G network in Canada. This marked the fourth
such agreement in just over a year following deals with Bell Canada, TELUS
and Videotron in 2008.

Momentum also continues to build in the U.S. where Nokia Siemens Networks
has a leading position in long-haul optical networks and is building its
business with both cable and wireless operators as illustrated by recent key
deals for IMS technology with Time Warner and with Verizon Wireless to
support the roll-out of LTE.

Nokia Siemens Networks is well positioned to transition its leadership in
3G into long-term success in LTE throughout the network from the core IMS
system it is building for Verizon Wireless to the Radio Access technology it
is supplying with partner Panasonic to NTT DoCoMo in Japan. Nokia Siemens
Networks has enjoyed recent wins in both Asia and Europe for LTE and is
working on other prospects with customers across the globe.

“With our powerful R&D capacity, strong portfolio and Services
capabilities and global scale and reach, Nokia Siemens Networks is positioned
for long term success as one of the winners in a wireless industry that is
rapidly consolidating around three vendors,” said Mika Vehvilainen, Chief
Operating Officer of Nokia Siemens Networks. “Our LTE platform is winning a
growing number of customers across the world and we are well positioned to
deliver the benefits of next generation wireless technology to customers in
North America and elsewhere.”

About Nokia

Nokia is a pioneer in mobile telecommunications and the world’s leading
maker of mobile devices. Today, we are connecting people in new and different
ways – fusing advanced mobile technology with personalized services to enable
people to stay close to what matters to them. We also provide comprehensive
digital map information through NAVTEQ; and equipment, solutions and services
for communications networks through Nokia Siemens Networks.

About Nokia Siemens Networks

Nokia Siemens Networks is a leading global enabler of telecommunications
services. With its focus on innovation and sustainability, the company
provides a complete portfolio of mobile, fixed and converged network
technology, as well as professional services including consultancy and
systems integration, deployment, maintenance and managed services. It is one
of the largest telecommunications hardware, software and professional
services companies in the world. Operating in 150 countries, its headquarters
are in Espoo, Finland. http://www.nokiasiemensnetworks.com

Engage in conversation about Nokia Siemens Networks’ aim to reinvent the
connected world at http://unite.nokiasiemensnetworks.com and talk about its
news at http://blogs.nokiasiemensnetworks.com

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may have occurred prior to the transfer, or violations that may have occurred
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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
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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.

*Notes to Editor

Following Nokia Siemens Networks’ agreement with Nortel to acquire assets
announced on June 20 the acquisition process moved to an auction on July 24
for those assets as specified by the US Bankruptcy court on June 29 in which
other qualified bidders were invited to participate.



SOURCE Nokia Corporation

Source: newswire

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