Tag: #NOKIA

Nokia Corporation

Stock exchange release
April 21, 2014 at 16.55 (CET +1)

Espoo, Finland – Nokia today announced that it expects the transaction whereby the company will sell substantially all of its Devices & Services business to Microsoft to close on April 25, 2014. The transaction is now subject only to certain customary closing conditions.

The transaction was originally announced on September 3, 2013.

FORWARD-LOOKING STATEMENTS
It should be noted that Nokia and its business are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements, including, without limitation, those regarding: A) the planned sale by Nokia of substantially all of Nokia’s Devices & Services business, including Smart Devices and Mobile Phones (referred to below as “Sale of the D&S Business”) pursuant to the Stock and Asset Purchase Agreement, dated as of September 2, 2013, between Nokia and Microsoft International Holdings B.V.(referred to below as the “Agreement”); B) the closing of the Sale of the D&S Business; C) expectations, plans or benefits related to or caused by the Sale of the D&S Business; D) expectations, plans or benefits related to Nokia’s strategies, including plans for Nokia with respect to its continuing businesses that will not be divested in connection with the Sale of the D&S Business; E) expectations, plans or benefits related to changes in leadership and operational structure; F) expectations and targets regarding our operational priorities, financial performance or position, results of operations and use of proceeds from the Sale of the D&S Business; and G) statements preceded by “believe,” “expect,” “anticipate,” “foresee,” “sees,” “target,” “estimate,” “designed,” “aim”, “plans,” “intends,” “focus,” “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, including risks and uncertainties that could cause these differences include, but are not limited to: 1) the inability to close the Sale of the D&S Business in a timely manner, or at all, for instance due to the inability or delays in satisfying closing conditions, or the occurrence of any event, change or other circumstance that could give rise to the termination of the Agreement; 2) the potential adverse effect on the sales of our mobile devices, business relationships, operating results and business generally  resulting from the announcement of the Sale of the D&S Business or from the terms that we have agreed for the Sale of the D&S Business; 3) any negative effect from the implementation of the Sale of the D&S Business, as we may forego other competitive alternatives for strategies or partnerships that would benefit our Devices & Services business and if the Sale of the D&S Business is not closed, we may have limited options to continue the Devices & Services  business or enter into another transaction on terms favorable to us, or at all; 4) our ability to effectively and smoothly implement planned changes to our leadership and operational structure or maintain an efficient interim governance structure and preserve or hire key personnel; 5) any negative effect from the implementation of the Sale of the D&S Business, including our internal reorganization in connection therewith, which will require significant time, attention and resources of our senior management and others within the company potentially diverting their attention from other aspects of our business; 6) disruption and dissatisfaction among employees caused by the plans and implementation of the Sale of the D&S Business reducing focus and productivity in areas of our business; 7) the amount of the costs, fees, expenses and charges related to or triggered by the Sale of the D&S Business; 8) any impairments or charges to carrying values of assets or liabilities related to or triggered by the Sale of the D&S Business; 9) potential adverse effects on our business, properties or operations caused by us implementing the Sale of the D&S Business; 10) the initiation or outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted against us relating to the Sale of the D&S Business, as well as the risk factors specified on pages 12-47 of Nokia’s annual report on Form 20-F for the year ended December 31, 2012 under Item 3D. “Risk Factors.” and risks outlined in our fourth quarter and full year 2013 results report available for instance at http://www.nokia.com/financials. 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.

About Nokia
Nokia is a global leader in mobile communications whose products have become an integral part of the lives of people around the world. Every day, more than 1.3 billion people use their Nokia to capture and share experiences, access information, find their way or simply to speak to one another. Nokia’s technological and design innovations have made its brand one of the most recognized in the world. For more information, visit http://www.nokia.com/about-nokia.

– See more at: http://press.nokia.com/2014/04/21/nokia-expects-the-sale-of-substantially-all-of-its-devices-services-business-to-microsoft-to-close-on-april-25-2014/#sthash.Fxy2LQXr.dpuf

#Nokia press release just received…..

Hello,

We wanted to share some important information about your data privacy and contracts.

Nokia currently expects to complete the sale of its Devices & Services business to Microsoft in April 2014. With the completion of this transaction, a Microsoft Finnish affiliate* assumes responsibility for your personal data and the contractual relationships for the products and services related to this business. Microsoft cares deeply about your privacy and the protection of your personal data and will continue to collect and use your personal data in the same ways and for the same reasons as Nokia, and you should experience no difference as a result of the sale.

Also, please note that Nokia will continue to run its businesses, including HERE location-based products and services, which are not part of the Microsoft acquisition. The responsibility for your personal data and your contractual relationship relating to these Nokia products and services remains with Nokia. Nokia continues to be committed to the highest standards to protect your privacy and your personal data.

We wanted to give you notice of these changes. Our commitment to your privacy remains paramount. To learn more about Microsoft’s and Nokia’s privacy policies and service terms, click here. http://www.nokia.com/global/privacy-landing/


You may also contact us at: Microsoft Mobile Oy, c/o Privacy, Keilaranta 7, 02150 Espoo, Finland or Nokia Corporation, c/o Privacy, Keilalahdentie 4, 02150 Espoo, Finland.

Sincerely,

Chad Fentress
Vice President, Chief Ethics and Compliance Officer
Nokia

Brendon Lynch
Chief Privacy Officer
Microsoft

* With the completion of this sale, the Nokia Devices & Services business will be part of this Finnish entity, Microsoft Mobile Oy, a subsidiary of Microsoft Corp.