SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a -16 or 15d -16 of
the Securities Exchange Act of 1934
Report on Form 6-K dated March 12, 2010
Nokia Corporation
Nokia House
Keilalahdentie 4
02150 Espoo
Finland
(Name and address of registrant’s principal executive office)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F x Form 40-F o
Enclosures:
Nokia stock exchange release dated March 12, 2010: 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
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STOCK EXCHANGE |
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March 12, 2010 |
Nokia
Corporation
Stock exchange release
March 12, 2010 at 15.25 (CET +1)
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
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. 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), 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
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant, Nokia Corporation, has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Date: March 12, 2010 |
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Nokia Corporation |
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By: |
/s/ Kaarina Ståhlberg |
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Name: |
Kaarina Ståhlberg |
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Title: |
Assistant General Counsel |