Nokia Siemens Networks remains committed to lon...

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Following the outcome* of the auction for the CDMA and Long Term
Evolution (LTE) assets of Nortel, Nokia Siemens Networks remains
focused on maintaining its leadership in the global wireless
infrastructure industry and sustaining its recent momentum in the
North American market,

"Our final offer for Nortel's assets represented a fair price, and we
did not enter this process with a win-at-any-cost mindset," said
Bosco Novak, Chief Markets Operations Officer, Nokia Siemens
Networks. "Ours was an opportunistic bid aimed at supporting the
great progress we've made in North America in the past 18 months, and
we are very confident that momentum will continue to grow."

Nokia Siemens Networks has transformed its North American business
under the leadership of region head Sue Spradley. The company
announced on July 20, 2009 it had won a contract with the new
Canadian mobile operator Globalive Wireless for the roll-out of a 3G
network in Canada. This marked the fourth such agreement in just over
a year following deals with Bell Canada, TELUS and Videotron in 2008.

Momentum also continues to build in the U.S. where Nokia Siemens
Networks has a leading position in long-haul optical networks and is
building its business with both cable and wireless operators as
illustrated by recent key deals for IMS technology with Time Warner
and with Verizon Wireless to support the roll-out of LTE.

Nokia Siemens Networks is well positioned to transition its
leadership in 3G into long-term success in LTE throughout the network
from the core IMS system it is building for Verizon Wireless to the
Radio Access technology it is supplying with partner Panasonic to NTT
DoCoMo in Japan. Nokia Siemens Networks has enjoyed recent wins in
both Asia and Europe for LTE and is working on other prospects with
customers across the globe.

"With our powerful R&D capacity, strong portfolio and Services
capabilities and global scale and reach, Nokia Siemens Networks is
positioned for long term success as one of the winners in a wireless
industry that is rapidly consolidating around three vendors," said
Mika Vehvilainen, Chief Operating Officer of Nokia Siemens Networks.
"Our LTE platform is winning a growing number of customers across the
world and we are well positioned to deliver the benefits of next
generation wireless technology to customers in North America and
elsewhere."

About Nokia
Nokia is a pioneer in mobile telecommunications and the world's
leading maker of mobile devices. Today, we are connecting people in
new and different ways - fusing advanced mobile technology with
personalized services to enable people to stay close to what matters
to them. We also provide comprehensive digital map information
through NAVTEQ; and equipment, solutions and services for
communications networks through Nokia Siemens Networks.

About Nokia Siemens Networks
Nokia Siemens Networks is a leading global enabler of
telecommunications services. With its focus on innovation and
sustainability, the company provides a complete portfolio of mobile,
fixed and converged network technology, as well as professional
services including consultancy and systems integration, deployment,
maintenance and managed services. It is one of the largest
telecommunications hardware, software and professional services
companies in the world. Operating in 150 countries, its headquarters
are in Espoo, Finland. www.nokiasiemensnetworks.com

Engage in conversation about Nokia Siemens Networks' aim to reinvent
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http://blogs.nokiasiemensnetworks.com
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FORWARD LOOKING STATEMENTS:
It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding: A)
the timing of product, services and solution deliveries; B) our
ability to develop, implement and commercialize new products,
services, solutions and technologies; C) our ability to develop and
grow our consumer Internet services business; D) expectations
regarding market developments and structural changes; E) expectations
regarding our mobile device volumes, market share, prices and
margins; F) expectations and targets for our results of operations;
G) the outcome of pending and threatened litigation; H) expectations
regarding the successful completion of contemplated acquisitions on a
timely basis and our ability to achieve the set targets upon the
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 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 deteriorating global economic
conditions and related financial crisis and their impact on us, our
customers and end-users of our products, services and solutions, our
suppliers and collaborative partners; 2) the development of the
mobile and fixed communications industry, as well as the growth and
profitability of the new market segments that we target and our
ability to successfully develop or acquire and market products,
services and solutions in those segments; 3) the intensity of
competition in the mobile and fixed communications industry and our
ability to maintain or improve our market position or respond
successfully to changes in the competitive landscape; 4)
competitiveness of our product, services and solutions portfolio; 5)
our ability to successfully manage costs; 6) exchange rate
fluctuations, including, in particular, fluctuations between the
euro, which is our reporting currency, and the US dollar, the
Japanese yen, the Chinese yuan and the UK pound sterling, as well as
certain other currencies; 7) the success, financial condition and
performance of our suppliers, collaboration partners and customers;
8) our ability to source sufficient amounts of fully functional
components, sub-assemblies, software and content without interruption
and at acceptable prices; 9) the impact of changes in technology and
our ability to develop or otherwise acquire and timely and
successfully commercialize complex technologies as required by the
market; 10) the occurrence of any actual or even alleged defects or
other quality, safety or security issues in our products, services
and 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 of technologies or new products,
services and solutions; 13) our ability to manage efficiently 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) 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, services and solutions; 16) 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; 17) any disruption to information
technology systems and networks that our operations rely on; 18)
developments under large, multi-year contracts or in relation to
major customers; 19) the management of our customer financing
exposure; 20) our ability to retain, motivate, develop and recruit
appropriately skilled employees; 21) whether, as a result of
investigations into alleged violations of law by some former
employees of Siemens AG ("Siemens"), government authorities or others
take further actions against Siemens and/or its employees that may
involve and affect the carrier-related assets and employees
transferred by Siemens to Nokia Siemens Networks, or there may be
undetected additional violations that may have occurred prior to the
transfer, or violations that may have occurred after the transfer, of
such assets and employees that could result in additional actions by
government authorities; 22) any impairment of Nokia Siemens Networks
customer relationships resulting from the ongoing government
investigations involving the Siemens carrier-related operations
transferred to Nokia Siemens Networks; 23) unfavorable outcome of
litigations; 24) allegations of possible health risks from
electromagnetic fields generated by base stations and mobile devices
and lawsuits related to them, regardless of merit; as well as the
risk factors specified on pages 11-28 of Nokia's annual report on
Form 20-F for the year ended December 31, 2008 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 and Investor Enquiries:

Nokia Siemens Networks
Ben Hunt
Communications
Tel. [phone]
Email: [e-mail]

Chantal Boeckman
Communications, North America
Phone: [phone]
E-mail: [e-mail]

Nokia Investor Relations Europe
Tel. [phone]

Nokia Investor Relations US
Tel. [phone]

www.nokia.com
www.nokiasiemensnetworks.com


*Notes to Editor

Following Nokia Siemens Networks' agreement with Nortel to acquire
assets announced on June 20 the acquisition process moved to an
auction on July 24 for those assets as specified by the US Bankruptcy
court on June 29 in which other qualified bidders were invited to
participate.


 
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NOKIA
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