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Nokia Oyj: Nokia outlines industry dynamics and growth at agm

Thursday 30 March 2006 15:04 EEST Kauppalehti Online


NOKIA STOCK EXCHANGE RELEASE March 30, 2006

Nokia outlines industry dynamics and growth at AGM
Increases estimate for 2006 mobile device market volume growth to 15% or more

Nokia Annual General Meeting, Helsinki, Finland – Speaking today at Nokia’s
AGM, company Chairman and CEO Jorma Ollila traced the rapid rise of mobile
communications and described the nature of the industry today.

“There is huge diversity between geographic areas and markets in terms of
consumer preferences and behavior,” he said. “In addition to continuous growth
in voice communication, other industries like music and digital imaging are
quickly becoming more integral to mobility.”

Ollila described how the size, growth and dynamics of emerging markets are
increasingly driving demand. He repeated the company’s earlier statements that
Nokia expects approximately 80% of the next billion subscribers to come from
the emerging markets, and that Nokia expects the global mobile subscriber base
to reach three billion during 2008.

Ollila also gave a revised estimate for mobile device market volume growth in
2006. “Due to strong subscriber growth, we have now updated our global mobile
device market volume estimate for this year,” said Ollila. “Nokia estimates
that in the year 2006, the mobile device market volume will increase globally
15% or more from our estimate of 795 million units in 2005. Previously, we
estimated that the global mobile device market volume would grow 10% or more
this year from last year’s estimate.”

In concluding, Ollila spoke about what he expects from Nokia and the industry
in the future. “I believe that Nokia is well placed for some new innovative
leaps,” he said. “We have seen the first era of an industry that I have no
doubt will continue to transform for many years to come.”


It should be noted that certain statements herein which are not historical
facts, including, without limitation, those regarding: A) the timing of product
and solution deliveries; B) our ability to develop, implement and commercialize
new products, solutions and technologies; C) expectations regarding market
growth, developments and structural changes; D) expectations regarding our
mobile device volume growth, market share and prices, E) expectations and
targets for our results of operations; F) the outcome of pending and threatened
litigation; and G) statements preceded by “believe,” “expect,” “anticipate,”
“foresee,” “target,” “designed” or similar expressions are forward-looking
statements. Because these statements 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 extent of the growth of the mobile communications industry, as well as the
growth and profitability of the new market segments within that industry which
we target; 2) the availability of new products and services by network
operators and other market participants; 3) our ability to identify key market
trends and to respond timely and successfully to the needs of our customers; 4)
the impact of changes in technology and our ability to develop or otherwise
acquire complex technologies as required by the market, with full rights needed
to use; 5) competitiveness of our product portfolio; 6) timely and successful
commercialization of new advanced products and solutions; 7) price erosion and
cost management; 8) the intensity of competition in the mobile communications
industry and our ability to maintain or improve our market position and respond
to changes in the competitive landscape; 9) 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 solutions; 10) inventory
management risks resulting from shifts in market demand; 11) our ability to
source quality components without interruption and at acceptable prices; 12)
our success in collaboration arrangements relating to development of
technologies or new products and solutions; 13) the success, financial
condition and performance of our collaboration partners, suppliers and
customers; 14) any disruption to information technology systems and networks
that our operations rely on; 15) our ability to protect the complex
technologies that 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 solution offerings; 16) general economic conditions globally
and, in particular, economic or political turmoil in emerging market countries
where we do business; 17) developments under large, multi-year contracts or in
relation to major customers; 18) exchange rate fluctuations, including, in
particular, fluctuations between the euro, which is our reporting currency, and
the US dollar, the Chinese yuan, the UK pound sterling and the Japanese yen;
19) the management of our customer financing exposure; 20) our ability to
recruit, retain and develop appropriately skilled employees; and 21) the impact
of changes in government policies, laws or regulations; as well as 22) the risk
factors specified on pages 12 – 22 of the company’s annual report on Form 20-F
for the year ended December 31, 2005 under “Item 3.D Risk Factors.”

Media and Investor Contacts:

Corporate Communications, tel. +358 7180 34495 or +358 7180 34900
Investor Relations Europe, tel. +358 7180 34289
Investor Relations US, tel. +1 914 368 0555
 
aus der Diskussion: Nokia - strong buy
Autor (Datum des Eintrages): DeadKennedy  (30.03.06 14:30:46)
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