Nokia updates mobile device market estimates fo...
NOKIA / Nokia updates mobile device market estimates for 2010 based on its revised definition of the industry mobile device market applied to its reporting beginning in 2010 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Nokia Corporation
Stock exchange release
March 12, 2010 at 15.25 (CET +1)
Nokia filed Form 20-F for 2009 with the US Securities and Exchange Commission
Espoo, Finland - Nokia filed its annual report on Form 20-F for 2009 with the US
Securities and Exchange Commission today, and revised its definition of the
industry mobile device market applicable to its reporting beginning in 2010.
Nokia also updated its mobile device market estimates for 2010 based on the
revised definition.
Beginning in 2010, Nokia is revising its definition of the industry mobile
device market that it uses to estimate industry volumes. This is due to improved
measurement processes and tools that enable Nokia to have better visibility to
estimate the number of mobile devices sold by certain new entrants in the global
mobile device market. These include vendors of legitimate, as well as
unlicensed and counterfeit, products with manufacturing facilities primarily
centered around certain locations in Asia and other emerging markets.
For comparative purposes only going forward, applying the revised definition and
improved measurement processes and tools that we are using beginning in 2010
retrospectively to 2009, Nokia estimates that industry mobile device volumes in
2009 would have been 1.26 billion units. Based on the industry mobile device
market definition used in 2009, Nokia estimated that industry mobile device
volumes were 1.14 billion units. Similarly, for comparative purposes only going
forward, applying the revised definition retrospectively to 2009, Nokia
estimates that its mobile device volume market share would have been 34% in
2009 on an annual basis. Based on the industry mobile device market definition
used in 2009, Nokia's volume market share estimate was 38%. The respective
quarterly volume market shares would have been 32% during the first quarter of
2009 (37% based on the 2009 definition), 35% during the second quarter of 2009
(38% based on the 2009 definition), 34% during the third quarter of 2009 (38%
based on the 2009 definition) and 35% during the fourth quarter of 2009 (39%
based on the 2009 definition). Nokia is not able to apply the revised definition
and improved measurement processes and tools retrospectively to its estimated
industry mobile device volumes or Nokia's estimated volume market share in 2008
due to lack of visibility and data. Thus, the industry mobile device volumes
estimated for 2008 and Nokia's volume market share estimated for 2008 are not
comparable with the industry mobile device volumes estimates or Nokia's volume
market share estimates based on the revised definition.
Applying its revised definition of the industry mobile device market applicable
beginning in 2010 on a comparable year-over-year basis,
- Nokia expects industry mobile device volumes to be up approximately 10% in
2010, compared to 2009;
- Nokia targets its mobile device volume market share to be flat in 2010,
compared to 2009; and
- Nokia targets to increase its mobile device value market share slightly in
2010, compared to 2009.
These expectations and targets are the same as announced by Nokia on January
28, 2010 while now applying the revised market definition.
The Nokia annual report on Form 20-F for 2009 is available in pdf format at
www.nokia.com/financials <
http://www.nokia.com/financials>. Shareholders may
request a hard copy of the report free of charge through Nokia's Internet pages.
About Nokia
At Nokia, we are committed to connecting people. We combine advanced technology
with personalized services that enable people to stay close to what matters to
them. Every day, more than 1.2 billion people connect to one another with a
Nokia device - from mobile phones to advanced smartphones and high-performance
mobile computers. Today, Nokia is integrating its devices with innovative
services through Ovi (www.ovi.com <
http://www.ovi.com/>), including music, maps,
apps, email and more. Nokia's NAVTEQ is a leader in comprehensive digital
mapping and navigation services, while Nokia Siemens Networks provides
equipment, services and solutions for communications networks globally.
FORWARD-LOOKING STATEMENTS
It should be noted that certain statements herein which are not historical facts
are forward-looking statements, including, without limitation, those regarding:
A) the timing of the deliveries of our products and services and their
combinations; B) our ability to develop, implement and commercialize new
technologies, products and services and their combinations; C) expectations
regarding market developments and structural changes; D) expectations and
targets regarding our industry volumes, market share, prices, net sales and
margins of products and services and their combinations; E) expectations and
targets regarding our operational priorities and results of operations; F) the
outcome of pending and threatened litigation; G) expectations regarding the
successful completion of acquisitions or restructurings on a timely basis and
our ability to achieve the financial and operational targets set in connection
with any such acquisition or restructuring; and H) statements preceded by
"believe," "expect," "anticipate," "foresee," "target," "estimate," "designed,"
"plans," "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) the
competitiveness and quality of our portfolio of products and services and their
combinations; 2) our ability to timely and successfully develop or otherwise
acquire the appropriate technologies and commercialize them as new advanced
products and services and their combinations, including our ability to attract
application developers and content providers to develop applications and provide
content for use in our devices; 3) our ability to effectively, timely and
profitably adapt our business and operations to the requirements of the
converged mobile device market and the services market; 4) 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; 5) the occurrence of any actual or even alleged
defects or other quality, safety or security issues in our products and services
and their combinations; 6) the development of the mobile and fixed
communications industry and general economic conditions globally and regionally;
7) our ability to successfully manage costs; 8) 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; 9) the success, financial condition and performance of
our suppliers, collaboration partners and customers; 10) our ability to source
sufficient amounts of fully functional components, sub-assemblies, software,
applications and content without interruption and at acceptable prices and
quality; 11) our success in collaboration arrangements with third parties
relating to the development of new technologies, products and services,
including applications and content; 12) 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 and their combinations; 13) our
ability to manage our inventory and timely adapt our supply to meet changing
demands for our products; 14) 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 and services and their combinations; 15) 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; 16) the impact of
changes in government policies, trade policies, laws or regulations and economic
or political turmoil in countries where our assets are located and we do
business; 17) any disruption to information technology systems and networks that
our operations rely on; 18) our ability to retain, motivate, develop and recruit
appropriately skilled employees; 19) unfavorable outcome of litigations; 20)
allegations of possible health risks from electromagnetic fields generated by
base stations and mobile devices and lawsuits related to them, regardless of
merit; 21) our ability to achieve targeted costs reductions and increase
profitability in Nokia Siemens Networks and to effectively and timely execute
related restructuring measures; 22) developments under large, multi-year
contracts or in relation to major customers in the networks infrastructure and
related services business; 23) the management of our customer financing
exposure, particularly in the networks infrastructure and related services
business; 24) whether ongoing or any additional governmental investigations into
alleged violations of law by some former employees of Siemens AG ("Siemens") may
involve and affect the carrier-related assets and employees transferred by
Siemens to Nokia Siemens Networks; 25) 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 11-32 of
Nokia's annual report Form 20-F for the year ended December 31, 2009 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.
Media Enquiries:
Nokia
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com
Investor Relations Europe
Tel. +358 7180 34927
Investor Relations US
Tel. +1 914 368 0555
www.nokia.com <
http://www.nokia.com/>
[HUG#1393524]
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