ESPOO, Finland, July 10 /PRNewswire-FirstCall/ -- Nokia (NYSE: NOK)
announced today that it has completed its acquisition of NAVTEQ, a leading
provider of comprehensive digital map information.
As part of Nokia, NAVTEQ will continue to develop its world-class
expertise in the navigation industry, service its strong customer base, and
invest in the further development of its industry-leading map data and
technology platform. It will continue to build out and expand coverage of
countries already included in its database as well as add new pieces of both
static and dynamic content.
Powered by NAVTEQ's industry leading maps data, Nokia will redefine the
Internet and connected experiences by adding context - time, place, people -
to web services optimized for mobility. By bringing context to Internet
services, Nokia will lead the next generation of web innovation.
"Nokia and NAVTEQ together make a powerful combination, and customers
will benefit as the transaction enables NAVTEQ to accelerate its expansion
into new regions and introduce innovative new content. This is an industry
poised for further growth and NAVTEQ will play a major role in the field,"
said Olli-Pekka Kallasvuo, President and CEO, Nokia. "The addition of NAVTEQ
comes at the right time for Nokia's business, allowing us to create the
leading location platform just as context-aware and location-based Internet
services expand rapidly into mobile communications devices."
Judson Green, President and CEO of NAVTEQ, said: "Nokia has a deep
understanding of the requirements for the industry. As part of Nokia, NAVTEQ
will further invest in its map and content capabilities and make our products
and services easier for all our customers to use and access."
NAVTEQ is a leading provider of comprehensive digital map data for
automotive navigation systems, mobile navigation devices, Internet-based
mapping applications, and government and business solutions. NAVTEQ creates
the digital maps and map content that power navigation and location-based
services solutions around the world. The Chicago-based company was founded in
1985 and has approximately 3 000 employees located in 168 offices in 30
countries.
"NAVTEQ's map data already play an important role in Nokia Maps service,
which brings downloadable maps, voice-guided navigation and other
context-aware web services to people's pockets. Now that the acquisition has
been completed, this role will become even more important as context-aware
Internet services grow," added Niklas Savander, Executive Vice President for
Services & Software, Nokia.
Nokia Maps covers over 200 countries, with over 70 of them navigable.
Nokia Maps 2.0 has improved its optional Car Navigation, enhanced its
pedestrian navigation, added multimedia city guides, offers satellite images,
and is sporting a redesigned user interface.
About Nokia
Nokia is the world leader in mobility, driving the transformation and
growth of the converging Internet and communications industries. We make a
wide range of mobile devices with services and software that enable people to
experience music, navigation, video, television, imaging, games, business
mobility and more. Developing and growing our offering of consumer Internet
services, as well as our enterprise solutions and software, is a key area of
focus. We also provide equipment, solutions and services for communications
networks through Nokia Siemens Networks.
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) expectations regarding market growth, developments and
structural changes; D) expectations regarding our mobile device volume
growth, market share, prices and margins; E) expectations and targets for our
results of operations; F) the outcome of pending and threatened litigation;
G) 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 H) 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) competitiveness of our
product, service and solutions portfolio; 2) the extent of the growth of the
mobile communications industry and general economic conditions globally; 3)
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; 4) our ability to successfully manage costs;
5) the intensity of competition in the mobile communications industry and our
ability to maintain or improve our market position or respond successfully to
changes in the competitive landscape; 6) 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; 7) timely and
successful commercialization of complex technologies as new advanced
products, services and solutions; 8) 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 solution offerings; 9) our ability to protect
numerous Nokia and Nokia Siemens Networks patented, standardized or
proprietary technologies from third-party infringement or actions to
invalidate the intellectual property rights of these technologies; 10) Nokia
Siemens Networks' ability to achieve the expected benefits and synergies from
its formation to the extent and within the time period anticipated and to
successfully integrate its operations, personnel and supporting activities;
11) whether, as a result of investigations into alleged violations of law by
some current or 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 ongoing violations that may have occurred after the transfer, of
such assets and employees that could result in additional actions by
government authorities; 12) 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;
13) occurrence of any actual or even alleged defects or other quality issues
in our products, services and solutions; 14) 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; 15) inventory management risks resulting from shifts in market
demand; 16) our ability to source sufficient amounts of fully functional
components and sub-assemblies without interruption and at acceptable prices;
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) economic or political turmoil in emerging
market countries where we do business; 20) our success in collaboration
arrangements relating to development of technologies or new products,
services and solutions; 21) the success, financial condition and performance
of our collaboration partners, suppliers and customers; 22) 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, as well as certain other currencies; 23) the
management of our customer financing exposure; 24) allegations of possible
health risks from electromagnetic fields generated by base stations and
mobile devices and lawsuits related to them, regardless of merit; 25)
unfavorable outcome of litigations; 26) our ability to recruit, retain and
develop appropriately skilled employees; 27) the impact of changes in
government policies, laws or regulations; and 28) our ability to effectively
and smoothly implement our new organizational structure; as well as the risk
factors specified on pages 10-25 of Nokia's annual report on Form 20-F for
the year ended December 31, 2007 under "Item 3.D 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 update
publicly or revise forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent legally
required.
http://www.nokia.com
SOURCE Nokia Corporation
