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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
America
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,
2009
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

Find out if your country is exploiting the full potential of connectivity
at http://connectivityscorecard.org

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.

*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.

http://www.nokia.com

http://www.nokiasiemensnetworks.com

SOURCE Nokia Corporation


Source: newswire



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