Nokia's comment on class action complaint
(Thomson Reuters ONE) - NOKIA / Nokia's comment on class action complaint processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. Nokia CorporationStock exchange releaseFebruary 8, 2010 at 8.30 (CET +1)Espoo, Finland - Nokia has become aware of the filing of a class actioncomplaint against Nokia on February 5, 2010 in the US District Court for theSouthern District of New York alleging securities fraud in connection withstatements made by Nokia between January 24, 2008 and September 5, 2008regarding the production and sales of certain of its mobile devices.Nokia has reviewed the allegations contained in the complaint and believes thatthey are without merit. Nokia intends to defend itself against the complaintvigorously.About NokiaNokia is a pioneer in mobile telecommunications and the world's leading maker ofmobile devices. Today, we are connecting people in new and different ways -fusing advanced mobile technology with personalized services to enable people tostay close to what matters to them. We also provide comprehensive digital mapinformation through NAVTEQ; and equipment, solutions and services forcommunications networks through Nokia Siemens Networks.FORWARD-LOOKING STATEMENTSIt should be noted that certain statements herein which are not historicalfacts, including, without limitation, those regarding: A) the timing of product,services and solution deliveries; B) our ability to develop, implement andcommercialize new products, services, solutions and technologies; C) our abilityto develop and grow our consumer Internet services business; D) expectationsregarding market developments and structural changes; E) expectations regardingour mobile device volumes, market share, prices and margins; F) expectations andtargets for our results of operations; G) the outcome of pending and threatenedlitigation; H) expectations regarding the successful completion of contemplatedacquisitions on a timely basis and our ability to achieve the set targets uponthe 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 statementsare based on management's best assumptions and beliefs in light of theinformation currently available to it. Because they involve risks anduncertainties, actual results may differ materially from the results that wecurrently expect. Factors that could cause these differences include, but arenot limited to: 1) the deteriorating global economic conditions and relatedfinancial crisis and their impact on us, our customers and end-users of ourproducts, services and solutions, our suppliers and collaborative partners; 2)the development of the mobile and fixed communications industry, as well as thegrowth and profitability of the new market segments that we target and ourability to successfully develop or acquire and market products, services andsolutions in those segments; 3) the intensity of competition in the mobile andfixed communications industry and our ability to maintain or improve our marketposition or respond successfully to changes in the competitive landscape; 4)competitiveness of our product, services and solutions portfolio; 5) our abilityto successfully manage costs; 6) exchange rate fluctuations, including, inparticular, fluctuations between the euro, which is our reporting currency, andthe US dollar, the Japanese yen, the Chinese yuan and the UK pound sterling, aswell as certain other currencies; 7) the success, financial condition andperformance of our suppliers, collaboration partners and customers; 8) ourability to source sufficient amounts of fully functional components,sub-assemblies, software and content without interruption and at acceptableprices; 9) the impact of changes in technology and our ability to develop orotherwise acquire and timely and successfully commercialize complex technologiesas required by the market; 10) the occurrence of any actual or even allegeddefects or other quality, safety or security issues in our products, servicesand 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 oftechnologies or new products, services and solutions; 13) our ability to manageefficiently 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) ourability to protect the complex technologies, which we or others develop or thatwe license, from claims that we have infringed third parties' intellectualproperty rights, as well as our unrestricted use on commercially acceptableterms of certain technologies in our products, services and solutions; 16) ourability to protect numerous Nokia, NAVTEQ and Nokia Siemens Networks patented,standardized or proprietary technologies from third-party infringement oractions to invalidate the intellectual property rights of these technologies;17) any disruption to information technology systems and networks that ouroperations rely on; 18) developments under large, multi-year contracts or inrelation to major customers; 19) the management of our customer financingexposure; 20) our ability to retain, motivate, develop and recruit appropriatelyskilled employees; 21) whether, as a result of investigations into allegedviolations of law by some former employees of Siemens AG ("Siemens"), governmentauthorities or others take further actions against Siemens and/or its employeesthat may involve and affect the carrier-related assets and employees transferredby Siemens to Nokia Siemens Networks, or there may be undetected additionalviolations that may have occurred prior to the transfer, or violations that mayhave occurred after the transfer, of such assets and employees that could resultin additional actions by government authorities; 22) any impairment of NokiaSiemens Networks customer relationships resulting from the ongoing governmentinvestigations involving the Siemens carrier-related operations transferred toNokia Siemens Networks; 23) unfavorable outcome of litigations; 24) allegationsof possible health risks from electromagnetic fields generated by base stationsand mobile devices and lawsuits related to them, regardless of merit; as well asthe risk factors specified on pages 11-28 of Nokia's annual report on Form 20-Ffor the year ended December 31, 2008 under Item 3D. "Risk Factors." Otherunknown or unpredictable factors or underlying assumptions subsequently provingto be incorrect could cause actual results to differ materially from those inthe forward-looking statements. Nokia does not undertake any obligation topublicly update or revise forward-looking statements, whether as a result of newinformation, future events or otherwise, except to the extent legally required.Media Enquiries:NokiaCommunicationsTel. +358 7180 34900Email: press.services(at)nokia.comwww.nokia.com
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