NOKIA
helsinki : NOK1V

July 19, 2011 09:32 ET

Regrouping of Nokia quarterly and full year 2010 and first quarter 2011 results v

ESPOO, FINLAND--(Marketwire - Jul 19, 2011) -


Nokia Corporation
Stock exchange release
July 19, 2011 at 15:00 (CET +1)

Nokia today provided historical results for its Devices & Services business, regrouped for comparability purposes according to the new reporting format that reflects the operational structure that became effective on April 1, 2011.

The historical results set forth below for each quarter and the full year of 2010 as well as the first quarter of 2011 are reported results regrouped (on an unaudited basis) for comparability purposes according to Nokia's four reportable segments effective from April 1, 2011:

- Smart Devices (within Devices & Services)
- Mobile Phones (within Devices & Services)
- NAVTEQ
- Nokia Siemens Networks

The key financial performance measures provided for these segments include net sales, gross margin as well as an additional measure of profit. For Smart Devices and Mobile Phones, we present these segments' profit contribution, which consists of revenues less these segments' own costs as well as their directly assignable and allocated costs. For NAVTEQ and Nokia Siemens Networks, we present operating profit.

Devices & Services Other primarily includes Nokia's luxury phone business Vertu, spare parts, intellectual property royalty income, as well as common research and development expenses. Other income and expenses includes major restructuring programs related to the Devices & Services business as well as other unallocated items.

It should be noted that the information provided herein is historical and therefore does not indicate future performance.

FIRST QUARTER 2010, REPORTED, EUR million
-----------------------------------------------------------------------
 (unaudited)
+-------------+----------+---------+------------+----------+----------+
|             |          |         | Devices &  |          |          |
|             |  Smart   | Mobile  |  Services  |Devices & |          |
|             | Devices  | Phones  |   Other    | Services |  NAVTEQ  |
|             | 1-3/2010 |1-3/2010 |  1-3/2010  | 1-3/2010 | 1-3/2010 |
+-------------+----------+---------+------------+----------+----------+
|             |          |         |            |          |          |
+-------------+----------+---------+------------+----------+----------+
|Net sales    |     3 362|    3 194|         107|     6 663|       189|
+-------------+----------+---------+------------+----------+----------+
|Cost of sales|    -2 211|   -2 234|         -62|    -4 507|       -29|
+-------------+----------+---------+------------+----------+----------+
|Gross profit |          |         |            |          |          |
|1)           |     1 151|      960|          45|     2 156|       160|
+-------------+----------+---------+------------+----------+----------+
|% of net     |          |         |            |          |          |
|sales        |      34.2|     30.1|        42.1|      32.4|      84.7|
+-------------+----------+---------+------------+----------+----------+
|             |          |         |            |          |          |
+-------------+----------+---------+------------+----------+----------+
|Operating    |          |         |            |          |          |
|expenses     |      -829|     -340|        -194|    -1 363|      -237|
+-------------+----------+---------+------------+----------+----------+
|             |          |         |            |          |          |
+-------------+----------+---------+------------+----------+----------+
|Other income |          |         |            |          |          |
|and expenses |        28|        -|          10|        38|         -|
+-------------+----------+---------+------------+----------+----------+
|             |          |         |            |          |          |
+-------------+----------+---------+------------+----------+----------+
|Contribution |       350|      620|        -139|          |          |
+-------------+----------+---------+------------+----------+----------+
|% of net     |          |         |            |          |          |
|sales        |      10.4|     19.4|      -129.9|          |          |
+-------------+----------+---------+------------+----------+----------+
|             |          |         |            |          |          |
+-------------+----------+---------+------------+----------+----------+
|Operating    |          |         |            |          |          |
|profit 1)    |          |         |            |       831|       -77|
+-------------+----------+---------+------------+----------+----------+
|% of net     |          |         |            |          |          |
|sales        |          |         |            |      12.5|     -40.7|
+-------------+----------+---------+------------+----------+----------+


+------------+-----------+----------+------------+---------+
|            |   Nokia   |          |            |         |
|            |  Siemens  |Corporate |            |  Nokia  |
|            | Networks  |  Common  |Eliminations|  Group  |
|            | 1-3/2010  | 1-3/2010 |  1-3/2010  |1-3/2010 |
+------------+-----------+----------+------------+---------+
|            |           |          |            |         |
+------------+-----------+----------+------------+---------+
|Net sales   |      2 718|         -|         -48|    9 522|
+------------+-----------+----------+------------+---------+
|Cost of     |           |          |            |         |
| sales      |     -1 936|         -|          28|   -6 444|
+------------+-----------+----------+------------+---------+
|Gross profit|           |          |            |         |
|1)          |        782|         -|         -20|    3 078|
+------------+-----------+----------+------------+---------+
|% of net    |           |          |            |         |
| sales      |       28.8|          |            |     32.3|
+------------+-----------+----------+------------+---------+
|            |           |          |            |         |
+------------+-----------+----------+------------+---------+
|Operating   |           |          |            |         |
| expenses   |     -1 015|       -12|           -|   -2 627|
+------------+-----------+----------+------------+---------+
|            |           |          |            |         |
+------------+-----------+----------+------------+---------+
|Other income|           |          |            |         |
|and expenses|          7|        -8|           -|       37|
+------------+-----------+----------+------------+---------+
|            |           |          |            |         |
+------------+-----------+----------+------------+---------+
|Contribution|           |          |            |         |
+------------+-----------+----------+------------+---------+
|% of net    |           |          |            |         |
|sales       |           |          |            |         |
+------------+-----------+----------+------------+---------+
|            |           |          |            |         |
+------------+-----------+----------+------------+---------+
|Operating   |           |          |            |         |
|profit 1)   |       -226|       -20|         -20|      488|
+------------+-----------+----------+------------+---------+
|% of net    |           |          |            |         |
|sales       |       -8.3|          |            |      5.1|
+------------+-----------+----------+------------+---------+

1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service

sold in combination with Nokia's GPS enabled smartphones.

--------------------------------------------------------------------------- ------------------------------------------

SECOND QUARTER 2010, REPORTED, EUR million
-----------------------------------------------------------------------
 (unaudited)
+----------------+----------+----------+--------+----------+----------+
|                |          |          |Devices |          |          |
|                |          |          |   &    |          |          |
|                |  Smart   |  Mobile  |Services|Devices & |          |
|                | Devices  |  Phones  | Other  | Services |  NAVTEQ  |
|                | 4-6/2010 | 4-6/2010 |4-6/2010| 4-6/2010 | 4-6/2010 |
+----------------+----------+----------+--------+----------+----------+
|                |          |          |        |          |          |
+----------------+----------+----------+--------+----------+----------+
|Net sales       |     3 503|     3 190|     106|     6 799|       252|
+----------------+----------+----------+--------+----------+----------+
|Cost of sales   |    -2 374|    -2 304|     -69|    -4 747|       -47|
+----------------+----------+----------+--------+----------+----------+
|Gross profit 1) |     1 129|       886|      37|     2 052|       205|
+----------------+----------+----------+--------+----------+----------+
|% of net sales  |      32.2|      27.8|    34.9|      30.2|      81.3|
+----------------+----------+----------+--------+----------+----------+
|                |          |          |        |          |          |
+----------------+----------+----------+--------+----------+----------+
|Operating       |          |          |        |          |          |
|expenses        |      -848|      -374|    -206|    -1 428|      -283|
+----------------+----------+----------+--------+----------+----------+
|                |          |          |        |          |          |
+----------------+----------+----------+--------+----------+----------+
|Other income and|          |          |        |          |          |
|expenses        |         2|         1|      16|        19|        -3|
+----------------+----------+----------+--------+----------+----------+
|                |          |          |        |          |          |
+----------------+----------+----------+--------+----------+----------+
|Contribution    |       283|       513|    -153|          |          |
+----------------+----------+----------+--------+----------+----------+
|% of net sales  |       8.1|      16.1|  -144.3|          |          |
+----------------+----------+----------+--------+----------+----------+
|                |          |          |        |          |          |
+----------------+----------+----------+--------+----------+----------+
|Operating profit|          |          |        |          |          |
|1)              |          |          |        |       643|       -81|
+----------------+----------+----------+--------+----------+----------+
|% of net sales  |          |          |        |       9.5|     -32.1|
+----------------+----------+----------+--------+----------+----------+



+----------------+-----------+----------+-------------+--------+
|                |           |          |             |        |
|                |   Nokia   |          |             |        |
|                |  Siemens  |Corporate |             | Nokia  |
|                | Networks  |  Common  |Eliminations | Group  |
|                | 4-6/2010  | 4-6/2010 |  4-6/2010   |4-6/2010|
+----------------+-----------+----------+-------------+--------+
|                |           |          |             |        |
+----------------+-----------+----------+-------------+--------+
|Net sales       |      3 039|         -|          -87|  10 003|
+----------------+-----------+----------+-------------+--------+
|Cost of sales   |     -2 170|         -|           32|  -6 932|
+----------------+-----------+----------+-------------+--------+
|Gross profit 1) |        869|         -|          -55|   3 071|
+----------------+-----------+----------+-------------+--------+
|% of net sales  |       28.6|          |             |    30.7|
+----------------+-----------+----------+-------------+--------+
|                |           |          |             |        |
+----------------+-----------+----------+-------------+--------+
|Operating       |           |          |             |        |
|expenses        |     -1 034|       -29|            -|  -2 774|
+----------------+-----------+----------+-------------+--------+
|                |           |          |             |        |
+----------------+-----------+----------+-------------+--------+
|Other income and|           |          |             |        |
|expenses        |        -14|        -4|            -|      -2|
+----------------+-----------+----------+-------------+--------+
|                |           |          |             |        |
+----------------+-----------+----------+-------------+--------+
|Contribution    |           |          |             |        |
+----------------+-----------+----------+-------------+--------+
|% of net sales  |           |          |             |        |
+----------------+-----------+----------+-------------+--------+
|                |           |          |             |        |
+----------------+-----------+----------+-------------+--------+
|Operating profit|           |          |             |        |
|1)              |       -179|       -33|          -55|     295|
+----------------+-----------+----------+-------------+--------+
|% of net sales  |       -5.9|          |             |     2.9|
+----------------+-----------+----------+-------------+--------+

1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service

sold in combination with Nokia's GPS enabled smartphones.

--------------------------------------------------------------------------- ------------------------------------------

THIRD QUARTER 2010, REPORTED, EUR million
-----------------------------------------------------------------------
 (unaudited)
+---------------+----------+----------+---------+----------+----------+
|               |          |          |Devices &|          |          |
|               |  Smart   |  Mobile  |Services |Devices & |          |
|               | Devices  |  Phones  |  Other  | Services |  NAVTEQ  |
|               | 7-9/2010 | 7-9/2010 |7-9/2010 | 7-9/2010 | 7-9/2010 |
+---------------+----------+----------+---------+----------+----------+
|               |          |          |         |          |          |
+---------------+----------+----------+---------+----------+----------+
|Net sales      |     3 612|     3 364|      197|     7 173|       252|
+---------------+----------+----------+---------+----------+----------+
|Cost of sales  |    -2 509|    -2 506|      -77|    -5 092|       -39|
+---------------+----------+----------+---------+----------+----------+
|Gross profit 1)|     1 103|       858|      120|     2 081|       213|
+---------------+----------+----------+---------+----------+----------+
|% of net sales |      30.5|      25.5|     60.9|      29.0|      84.5|
+---------------+----------+----------+---------+----------+----------+
|               |          |          |         |          |          |
+---------------+----------+----------+---------+----------+----------+
|Operating      |          |          |         |          |          |
|expenses       |      -773|      -382|     -184|    -1 339|      -263|
+---------------+----------+----------+---------+----------+----------+
|               |          |          |         |          |          |
+---------------+----------+----------+---------+----------+----------+
|Other income   |          |          |         |          |          |
|and expenses   |         5|         3|       57|        65|         2|
+---------------+----------+----------+---------+----------+----------+
|               |          |          |         |          |          |
+---------------+----------+----------+---------+----------+----------+
|Contribution   |       335|       479|       -7|          |          |
+---------------+----------+----------+---------+----------+----------+
|% of net sales |       9.3|      14.2|     -3.6|          |          |
+---------------+----------+----------+---------+----------+----------+
|               |          |          |         |          |          |
+---------------+----------+----------+---------+----------+----------+
|Operating      |          |          |         |          |          |
|profit 1)      |          |          |         |       807|       -48|
+---------------+----------+----------+---------+----------+----------+
|% of net sales |          |          |         |      11.3|     -19.0|
+---------------+----------+----------+---------+----------+----------+

+---------------+-----------+----------+-------------+--------+
|               |   Nokia   |          |             |        |
|               |  Siemens  |Corporate |             | Nokia  |
|               | Networks  |  Common  |Eliminations | Group  |
|               | 7-9/2010  | 7-9/2010 |  7-9/2010   |7-9/2010|
+---------------+-----------+----------+-------------+--------+
|               |           |          |             |        |
+---------------+-----------+----------+-------------+--------+
|Net sales      |      2 943|         -|          -98|  10 270|
+---------------+-----------+----------+-------------+--------+
|Cost of sales  |     -2 241|         1|           42|  -7 329|
+---------------+-----------+----------+-------------+--------+
|Gross profit 1)|        702|         1|          -56|   2 941|
+---------------+-----------+----------+-------------+--------+
|% of net sales |       23.9|          |             |    28.6|
+---------------+-----------+----------+-------------+--------+
|               |           |          |             |        |
+---------------+-----------+----------+-------------+--------+
|Operating      |           |          |             |        |
|expenses       |       -966|       -19|            -|  -2 587|
+---------------+-----------+----------+-------------+--------+
|               |           |          |             |        |
+---------------+-----------+----------+-------------+--------+
|Other income   |           |          |             |        |
|and expenses   |        -18|         -|            -|      49|
+---------------+-----------+----------+-------------+--------+
|               |           |          |             |        |
+---------------+-----------+----------+-------------+--------+
|Contribution   |           |          |             |        |
+---------------+-----------+----------+-------------+--------+
|% of net sales |           |          |             |        |
+---------------+-----------+----------+-------------+--------+
|               |           |          |             |        |
+---------------+-----------+----------+-------------+--------+
|Operating      |           |          |             |        |
|profit 1)      |       -282|       -18|          -56|     403|
+---------------+-----------+----------+-------------+--------+
|% of net sales |       -9.6|          |             |     3.9|
+---------------+-----------+----------+-------------+--------+

1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service

sold in combination with Nokia's GPS enabled smartphones.

--------------------------------------------------------------------------- ------------------------------------------

FOURTH QUARTER 2010, REPORTED, EUR million
-----------------------------------------------------------------------
 (unaudited)
+--------------+----------+----------+----------+----------+----------+
|              |          |          |Devices & |          |          |
|              |  Smart   |  Mobile  | Services |Devices & |          |
|              | Devices  |  Phones  |  Other   | Services |  NAVTEQ  |
|              |10-12/2010|10-12/2010|10-12/2010|10-12/2010|10-12/2010|
+--------------+----------+----------+----------+----------+----------+
|              |          |          |          |          |          |
+--------------+----------+----------+----------+----------+----------+
|Net sales     |     4 396|     3 947|       156|     8 499|       309|
+--------------+----------+----------+----------+----------+----------+
|Cost of sales |    -3 111|    -2 822|       -86|    -6 019|       -38|
+--------------+----------+----------+----------+----------+----------+
|Gross profit  |          |          |          |          |          |
|1)            |     1 285|     1 125|        70|     2 480|       271|
+--------------+----------+----------+----------+----------+----------+
|% of net sales|      29.2|      28.5|      44.9|      29.2|      87.7|
+--------------+----------+----------+----------+----------+----------+
|              |          |          |          |          |          |
+--------------+----------+----------+----------+----------+----------+
|Operating     |          |          |          |          |          |
|expenses      |      -882|      -410|      -218|    -1 510|      -288|
+--------------+----------+----------+----------+----------+----------+
|              |          |          |          |          |          |
+--------------+----------+----------+----------+----------+----------+
|Other income  |          |          |          |          |          |
|and expenses  |       145|         1|       -98|        48|        -2|
+--------------+----------+----------+----------+----------+----------+
|              |          |          |          |          |          |
+--------------+----------+----------+----------+----------+----------+
|Contribution  |       548|       716|      -246|          |          |
+--------------+----------+----------+----------+----------+----------+
|% of net sales|      12.5|      18.1|    -157.7|          |          |
+--------------+----------+----------+----------+----------+----------+
|              |          |          |          |          |          |
+--------------+----------+----------+----------+----------+----------+
|Operating     |          |          |          |          |          |
|profit 1)     |          |          |          |     1 018|       -19|
+--------------+----------+----------+----------+----------+----------+
|% of net sales|          |          |          |      12.0|      -6.1|
+--------------+----------+----------+----------+----------+----------+

+--------------+----------+----------+------------+----------+
|              |  Nokia   |          |            |          |
|              | Siemens  |Corporate |            |  Nokia   |
|              | Networks |  Common  |Eliminations|  Group   |
|              |10-12/2010|10-12/2010| 10-12/2010 |10-12/2010|
+--------------+----------+----------+------------+----------+
|              |          |          |            |          |
+--------------+----------+----------+------------+----------+
|Net sales     |     3 961|         -|        -118|    12 651|
+--------------+----------+----------+------------+----------+
|Cost of sales |    -2 919|         -|          52|    -8 924|
+--------------+----------+----------+------------+----------+
|Gross profit  |          |          |            |          |
|1)            |     1 042|         -|         -66|     3 727|
+--------------+----------+----------+------------+----------+
|% of net sales|      26.3|          |            |      29.5|
+--------------+----------+----------+------------+----------+
|              |          |          |            |          |
+--------------+----------+----------+------------+----------+
|Operating     |          |          |            |          |
|expenses      |    -1 022|       -47|           -|    -2 867|
+--------------+----------+----------+------------+----------+
|              |          |          |            |          |
+--------------+----------+----------+------------+----------+
|Other income  |          |          |            |          |
|and expenses  |       -19|         4|          -7|        24|
+--------------+----------+----------+------------+----------+
|              |          |          |            |          |
+--------------+----------+----------+------------+----------+
|Contribution  |          |          |            |          |
+--------------+----------+----------+------------+----------+
|% of net sales|          |          |            |          |
+--------------+----------+----------+------------+----------+
|              |          |          |            |          |
+--------------+----------+----------+------------+----------+
|Operating     |          |          |            |          |
|profit 1)     |         1|       -43|         -73|       884|
+--------------+----------+----------+------------+----------+
|% of net sales|       0.0|          |            |       7.0|
+--------------+----------+----------+------------+----------+

1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service

sold in combination with Nokia's GPS enabled smartphones.

--------------------------------------------------------------------------- ------------------------------------------

FULL YEAR 2010, REPORTED, EUR million
-----------------------------------------------------------------
 (unaudited)
+-------------+---------+---------+---------+---------+---------+
|             |         |         |Devices &|         |         |
|             |  Smart  | Mobile  |Services |Devices &|         |
|             | Devices | Phones  |  Other  |Services | NAVTEQ  |
|             |1-12/2010|1-12/2010|1-12/2010|1-12/2010|1-12/2010|
+-------------+---------+---------+---------+---------+---------+
|             |         |         |         |         |         |
+-------------+---------+---------+---------+---------+---------+
|Net sales    |   14 873|   13 695|      566|   29 134|    1 002|
+-------------+---------+---------+---------+---------+---------+
|Cost of sales|  -10 205|   -9 866|     -294|  -20 365|     -153|
+-------------+---------+---------+---------+---------+---------+
|Gross profit |         |         |         |         |         |
|1)           |    4 668|    3 829|      272|    8 769|      849|
+-------------+---------+---------+---------+---------+---------+
|% of net     |         |         |         |         |         |
|sales        |     31.4|     28.0|     48.1|     30.1|     84.7|
+-------------+---------+---------+---------+---------+---------+
|             |         |         |         |         |         |
+-------------+---------+---------+---------+---------+---------+
|Operating    |         |         |         |         |         |
|expenses     |   -3 332|   -1 506|     -802|   -5 640|   -1 071|
+-------------+---------+---------+---------+---------+---------+
|             |         |         |         |         |         |
+-------------+---------+---------+---------+---------+---------+
|Other income |         |         |         |         |         |
|and expenses |      180|        5|      -15|      170|       -3|
+-------------+---------+---------+---------+---------+---------+
|             |         |         |         |         |         |
+-------------+---------+---------+---------+---------+---------+
|Contribution |    1 516|    2 328|     -545|         |         |
+-------------+---------+---------+---------+---------+---------+
|% of net     |         |         |         |         |         |
|sales        |     10.2|     17.0|    -96.3|         |         |
+-------------+---------+---------+---------+---------+---------+
|             |         |         |         |         |         |
+-------------+---------+---------+---------+---------+---------+
|Operating    |         |         |         |         |         |
|profit 1)    |         |         |         |    3 299|     -225|
+-------------+---------+---------+---------+---------+---------+
|% of net     |         |         |         |         |         |
|sales        |         |         |         |     11.3|    -22.5|
+-------------+---------+---------+---------+---------+---------+


+-------------+---------+---------+--------------------+----------+
|             |  Nokia  |         |                    |          |
|             | Siemens |Corporate|                    |  Nokia   |
|             |Networks | Common  |    Eliminations    |  Group   |
|             |1-12/2010|1-12/2010|     1-12/2010      |1-12/2010 |
+-------------+---------+---------+--------------------+----------+
|             |         |         |                    |          |
+-------------+---------+---------+--------------------+----------+
|Net sales    |   12 661|        -|                -351|    42 446|
+-------------+---------+---------+--------------------+----------+
|Cost of sales|   -9 266|        1|                 154|   -29 629|
+-------------+---------+---------+--------------------+----------+
|Gross profit |         |         |                    |          |
|1)           |    3 395|        1|                -197|    12 817|
+-------------+---------+---------+--------------------+----------+
|% of net     |         |         |                    |          |
|sales        |     26.8|         |                    |      30.2|
+-------------+---------+---------+--------------------+----------+
|             |         |         |                    |          |
+-------------+---------+---------+--------------------+----------+
|Operating    |         |         |                    |          |
|expenses     |   -4 037|     -107|                   -|   -10 855|
+-------------+---------+---------+--------------------+----------+
|             |         |         |                    |          |
+-------------+---------+---------+--------------------+----------+
|Other income |         |         |                    |          |
|and expenses |      -44|       -8|                  -7|       108|
+-------------+---------+---------+--------------------+----------+
|             |         |         |                    |          |
+-------------+---------+---------+--------------------+----------+
|Contribution |         |         |                    |          |
+-------------+---------+---------+--------------------+----------+
|% of net     |         |         |                    |          |
|sales        |         |         |                    |          |
+-------------+---------+---------+--------------------+----------+
|             |         |         |                    |          |
+-------------+---------+---------+--------------------+----------+
|Operating    |         |         |                    |          |
|profit 1)    |     -686|     -114|                -204|     2 070|
+-------------+---------+---------+--------------------+----------+
|% of net     |         |         |                    |          |
|sales        |     -5.4|         |                    |       4.9|
+-------------+---------+---------+--------------------+----------+

1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service

sold in combination with Nokia's GPS enabled smartphones.

--------------------------------------------------------------------------- ------------------------------------------

FIRST QUARTER 2011, REPORTED, EUR million
---------------------------------------------------------------------
 (unaudited)
+------------+--------+--------+-------------+-------------+--------+
|            |        |        |  Devices &  |             |        |              
|            | Smart  | Mobile |  Services   |  Devices &  |        |
|            |Devices | Phones |    Other    |  Services   | NAVTEQ |
|            |1-3/2011|1-3/2011|  1-3/2011   |  1-3/2011   |1-3/2011|
+------------+--------+--------+-------------+-------------+--------+
|            |        |        |             |             |        |
+------------+--------+--------+-------------+-------------+--------+
|Net sales   |   3 528|   3 407|          152|        7 087|     232|
+------------+--------+--------+-------------+-------------+--------+
|Cost of     |        |        |             |             |        |
|sales       |  -2 475|  -2 457|          -92|       -5 024|     -37|
+------------+--------+--------+-------------+-------------+--------+
|Gross profit|        |        |             |             |        |
|1)          |   1 053|     950|           60|        2 063|     195|
+------------+--------+--------+-------------+-------------+--------+
|% of net    |        |        |             |             |        |
|sales       |    29.8|    27.9|         39.5|         29.1|    84.1|
+------------+--------+--------+-------------+-------------+--------+
|            |        |        |             |             |        |
+------------+--------+--------+-------------+-------------+--------+
|Operating   |        |        |             |             |        |
|expenses    |    -835|    -386|         -167|       -1 388|    -258|
+------------+--------+--------+-------------+-------------+--------+
|            |        |        |             |             |        |
+------------+--------+--------+-------------+-------------+--------+
|Other income|        |        |             |             |        |
|and expenses|       -|      -2|           17|           15|       1|
+------------+--------+--------+-------------+-------------+--------+
|            |        |        |             |             |        |
+------------+--------+--------+-------------+-------------+--------+
|Contribution|     218|     562|          -90|             |        |
+------------+--------+--------+-------------+-------------+--------+
|% of net    |        |        |             |             |        |
|sales       |     6.2|    16.5|        -59.2|             |        |
+------------+--------+--------+-------------+-------------+--------+
|            |        |        |             |             |        |
+------------+--------+--------+-------------+-------------+--------+
|Operating   |        |        |             |             |        |
|profit 1)   |        |        |             |          690|     -62|
+------------+--------+--------+-------------+-------------+--------+
|% of net    |        |        |             |             |        |
|sales       |        |        |             |          9.7|   -26.7|
+------------+--------+--------+-------------+-------------+--------+

+------------+--------------+---------+------------+---------+
|            |              |         |            |         |
|            |Nokia Siemens |Corporate|            |  Nokia  |
|            |   Networks   | Common  |Eliminations|  Group  |
|            |   1-3/2011   |1-3/2011 |  1-3/2011  |1-3/2011 |
+------------+--------------+---------+------------+---------+
|            |              |         |            |         |
+------------+--------------+---------+------------+---------+
|Net sales   |         3 171|        -|         -91|   10 399|
+------------+--------------+---------+------------+---------+
|Cost of     |              |         |            |         |
| sales      |        -2 324|        -|          60|   -7 325|
+------------+--------------+---------+------------+---------+
|Gross profit|              |         |            |         |
|1)          |           847|        -|         -31|    3 074|
+------------+--------------+---------+------------+---------+
|% of net    |              |         |            |         |
| sales      |          26.7|         |            |     29.6|
+------------+--------------+---------+------------+---------+
|            |              |         |            |         |
+------------+--------------+---------+------------+---------+
|Operating   |              |         |            |         |
| expenses   |          -990|      -22|           -|   -2 658|
+------------+--------------+---------+------------+---------+
|            |              |         |            |         |
+------------+--------------+---------+------------+---------+
|Other income|              |         |            |         |
|and expenses|             1|        6|           -|       23|
+------------+--------------+---------+------------+---------+
|            |              |         |            |         |
+------------+--------------+---------+------------+---------+
|Contribution|              |         |            |         |
+------------+--------------+---------+------------+---------+
|% of net    |              |         |            |         |
|sales       |              |         |            |         |
+------------+--------------+---------+------------+---------+
|            |              |         |            |         |
+------------+--------------+---------+------------+---------+
|Operating   |              |         |            |         |
|profit 1)   |          -142|      -16|         -31|      439|
+------------+--------------+---------+------------+---------+
|% of net    |              |         |            |         |
|sales       |          -4.5|         |            |      4.2|
+------------+--------------+---------+------------+---------+

1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service

sold in combination with Nokia's GPS enabled smartphones.

About Nokia

Nokia is committed to connecting people to what matters to them by combining advanced mobile technology with personalized services. More than 1.3 billion people connect to one another with a Nokia, from our most affordable voice-optimized mobile phones to advanced Internet-connected smartphones sold in virtually every market in the world. Through Ovi (www.ovi.com), people also enjoy access to maps and navigation on mobile, a rapidly expanding applications store, a growing catalog of digital music, free email and more. Nokia's NAVTEQ is a leader in comprehensive digital mapping and navigation services, and Nokia Siemens Networks is one of the leading providers of telecommunications infrastructure hardware, software and professional services globally.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(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

[HUG#1531939]

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