ESPOO, FINLAND--(Marketwire - Jul 24, 2012) - Acquisition aims to bring outstanding imaging
experiences to Nokia Lumia
smartphones
Espoo, Finland and Lund, Sweden: Nokia announced today that it has
completed the
acquisition of all technologies and intellectual property from Scalado AB,
originally announced on June 14, 2012. As part of the transaction,
approximately
50 world-class imaging specialists transferred to Nokia.
"We believe that this acquisition will strengthen Nokia's leading position
in
mobile imaging and provide us with a great opportunity to create even
better
imaging products and applications," said Jo Harlow, executive vice
president,
Smart Devices at Nokia. "We welcome the skilled and passionate
professionals
from Scalado to Nokia and are excited to have them work with the rest of
our
talented and dedicated imaging experts to bring world-class imaging
solutions to
our Nokia Lumia smartphones. The Nokia team is already responsible for many
leading innovations in mobile imaging and, together with the experts from
Scalado, we aim at astonishing the world with new, outstanding imaging
experiences."
Lund has now become a key site for Nokia's imaging software for
smartphones, in
addition to Nokia's existing locations in Espoo and Tampere, Finland.
"We're excited to join Nokia at such an important time in its smartphone
story,"
said Sami Niemi, co-founder of Scalado and now head of Capture & Relive,
Smart
Devices at Nokia. "The technologies and competences we've developed should
help
move from taking photos to capturing memories and emotions."
More information can be found on the Nokia Conversations blog.
About Nokia
Nokia is a global leader in mobile communications whose products have
become an
integral part of the lives of people around the world. Every day, more than
1.3
billion people use their Nokia to capture and share experiences, access
information, find their way or simply to speak to one another. Nokia's
technological and design innovations have made its brand one of the most
recognized in the world. For more information, visit
http://www.nokia.com/about-nokia
Forward Looking Statements
It should be noted that certain statements herein that are not historical
facts
are forward-looking statements, including, without limitation, those
regarding:
A) the expected plans and benefits of our partnership with Microsoft to
bring
together complementary assets and expertise to form a global mobile
ecosystem
for smartphones; B) the timing and expected benefits of our new strategies,
including expected operational and financial benefits and targets as well
as
changes in leadership and operational structure; C) the timing of the
deliveries
of our products and services; D) our ability to innovate, develop, execute
and
commercialize new technologies, products and services; E) expectations
regarding
market developments and structural changes; F) expectations and targets
regarding our industry volumes, market share, prices, net sales and margins
of
our products and services; G) expectations and targets regarding our
operational
priorities and results of operations; H) expectations and targets regarding
collaboration and partnering arrangements; I) the outcome of pending and
threatened litigation; J) expectations regarding the successful completion
of
restructurings, investments, acquisitions and divestments on a timely basis
and
our ability to achieve the financial and operational targets set in
connection
with any such restructurings, investments, acquisitions and divestments;
and K)
statements preceded by "believe," "expect," "anticipate," "foresee,"
"target,"
"estimate," "designed," "aim", "plans," "intends," "will" or similar
expressions. 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) our success in the smartphone market,
including our ability to introduce and bring to market quantities of
attractive,
competitively priced Nokia products with Windows Phone that are positively
differentiated from our competitors' products, both outside and within the
Windows Phone ecosystem; 2) our ability to make Nokia products with Windows
Phone a competitive choice for consumers, and together with Microsoft, our
success in encouraging and supporting a competitive and profitable global
ecosystem for Windows Phone smartphones that achieves sufficient scale,
value
and attractiveness to all market participants; 3) reduced consumer demand
for
Nokia smartphones that operate on current versions of the Windows Phone
platform
as consumers anticipate our launch and sales ramp-up of Nokia smartphones
with
newer versions of the Windows Phone platform available from Microsoft,
specifically the new Windows Phone 8 operating system; 4) the difficulties
we
experience in having a competitive offering of Symbian devices and
maintaining
the economic viability of the Symbian smartphone platform during the
transition
to Windows Phone as our primary smartphone platform; 5) our ability to
effectively and timely implement planned changes to our operational
structure,
including the planned restructuring measures, and to successfully complete
the
planned investments, acquisitions and divestments in order to improve our
operating model and achieve targeted efficiencies and reductions in
operating
expenses; 6) our future sales performance, among other factors, may require
us
to recognize allowances related to excess component inventory, future
purchase
commitments and inventory write-offs in our Devices & Services business;
7)
our ability to realize a return on our investment in next generation
devices,
platforms and user experiences; 8) our ability to produce attractive and
competitive feature phones, including devices with more smartphone-like
features, in a timely and cost efficient manner with differentiated
hardware,
software, localized services and applications; 9) the intensity of
competition
in the various markets where we do business and our ability to maintain or
improve our market position or respond successfully to changes in the
competitive environment; 10) our ability to retain, motivate, develop and
recruit appropriately skilled employees; 11) the success of our Location &
Commerce strategy, including our ability to maintain current sources of
revenue,
provide support for our Devices & Services business and create new sources
of
revenue from our location-based services and commerce assets; 12) our
actual
performance in the short-term and long-term could be materially different
from
our forecasts, which could impact future estimates of recoverable value of
our
reporting units and may result in impairment charges; 13) our success in
collaboration and partnering arrangements with third parties, including
Microsoft; 14) our ability to increase our speed of innovation, product
development and execution to bring new innovative and competitive mobile
products and location-based or other services to the market in a timely
manner;
15) our dependence on the development of the mobile and communications
industry,
including location-based and other services industries, in numerous diverse
markets, as well as on general economic conditions globally and regionally;
16)
our ability to protect numerous patented standardized or proprietary
technologies from third-party infringement or actions to invalidate the
intellectual property rights of these technologies; 17) our ability to
maintain
and leverage our traditional strengths in the mobile product market if we
are
unable to retain the loyalty of our mobile operator and distributor
customers
and consumers as a result of the implementation of our strategies or other
factors; 18) the success, financial condition and performance of our
suppliers,
collaboration partners and customers; 19) our ability to manage efficiently
our
manufacturing and logistics, as well as to ensure the quality, safety,
security
and timely delivery of our products and services; 20) our ability to source
sufficient amounts of fully functional quality components, sub-assemblies,
software and services on a timely basis without interruption and on
favorable
terms; 21) our ability to manage our inventory and timely adapt our supply
to
meet changing demands for our products; 22) any actual or even alleged
defects
or other quality, safety and security issues in our products; 23) the
impact of
a cybersecurity breach or other factors leading to any actual or alleged
loss,
improper disclosure or leakage of any personal or consumer data collected
by us
or our partners or subcontractors, made available to us or stored in or
through
our products; 24) our ability to successfully manage the pricing of our
products
and costs related to our products and operations; 25) exchange rate
fluctuations, including, in particular, fluctuations between the euro,
which is
our reporting currency, and the US dollar, the Japanese yen and the Chinese
yuan, as well as certain other currencies; 26) our ability to protect the
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 and services; 27) the impact of economic, political, regulatory or
other developments on our sales, manufacturing facilities and assets
located in
emerging market countries; 28) the impact of changes in government
policies,
trade policies, laws or regulations where our assets are located and where
we do
business; 29) the potential complex tax issues and obligations we may incur
to
pay additional taxes in the various jurisdictions in which we do business
and
our actual or anticipated performance, among other factors, could result in
allowances related to deferred tax assets; 30) any disruption to
information
technology systems and networks that our operations rely on; 31)
unfavorable
outcome of litigations; 32) allegations of possible health risks from
electromagnetic fields generated by base stations and mobile products and
lawsuits related to them, regardless of merit; 33) Nokia Siemens Networks
ability to implement its new strategy and restructuring plan effectively
and in
a timely manner to improve its overall competitiveness and profitability;
34)
Nokia Siemens Networks' success in the telecommunications infrastructure
services market and Nokia Siemens Networks' ability to effectively and
profitably adapt its business and operations in a timely manner to the
increasingly diverse service needs of its customers; 35) Nokia Siemens
Networks'
ability to maintain or improve its market position or respond successfully
to
changes in the competitive environment; 36) Nokia Siemens Networks'
liquidity
and its ability to meet its working capital requirements; 37) Nokia Siemens
Networks' ability to timely introduce new competitive products, services,
upgrades and technologies; 38) Nokia Siemens Networks' ability to execute
successfully its strategy for the acquired Motorola Solutions wireless
network
infrastructure assets; 39) developments under large, multi-year contracts
or in
relation to major customers in the networks infrastructure and related
services
business; 40) the management of our customer financing exposure,
particularly in
the networks infrastructure and related services business; 41) whether
ongoing
or any additional governmental investigations into alleged violations of
law by
some former employees of Siemens may involve and affect the carrier-related
assets and employees transferred by Siemens to Nokia Siemens Networks; and
42)
any impairment of Nokia Siemens Networks customer relationships resulting
from
ongoing or any additional governmental investigations involving the Siemens
carrier-related operations transferred to Nokia Siemens Networks, as well
as the
risk factors specified on pages 13-47 of Nokia's annual report on Form 20-F
for
the year ended December 31, 2011 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.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NOKIA via Thomson Reuters ONE
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