Nokia Annual Report On Form 20-F 2017
Nokia Annual Report on Form 20-F 2017Creating the technology to connect the world
As filed with the Securities and Exchange Commission on March 22, 2018UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 20-FANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2017Commission file number 1-13202Nokia Corporation(Exact name of Registrant as specified in its charter)Republic of Finland(Jurisdiction of incorporation)Karaportti 3 FI-02610 Espoo, Finland(Address of principal executive offices)Jussi Koskinen, Vice President, Corporate Legal, Telephone: 358 (0) 10 44 88 000, Facsimile: 358 (0) 10 44 81 002,Karaportti 3, FI-02610 Espoo, Finland(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 (the “Exchange Act”):Title of each classAmerican Depositary SharesSharesName of each exchange on which registeredNew York Stock ExchangeNew York Stock Exchange(1)(1) Not for trading, but only in connection with the registration of American Depositary Shares representing these shares, pursuant to the requirements of the Securities and Exchange Commission.Securities registered pursuant to Section 12(g) of the Exchange Act: NoneSecurities for which there is a reporting obligation pursuant to Section 15(d) of the Exchange Act:5.375% Notes due 2019, 3.375% Notes due 2022, 4.375% Notes due 2027 and 6.625% Notes due 2039.Indicate the number of outstanding shares of each of the registrant’s classes of capital or common stock asof the close of the period covered by the annual report. Shares: 5 839 404 303.Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes NoIf this report is an annual or transition report, indicate by check mark if the registrant is not required to file reportspursuant to Section 13 or 15(d) of the Exchange Act. Yes NoIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d)of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was requiredto file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes NoIndicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any,every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitand post such files). Yes NoIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reportingcompany” in Rule 12b-2 of the Exchange Act. (Check one):Non-accelerated filerLarge accelerated filer(Do not check if a smaller reporting company)Accelerated filerSmaller reporting companyIndicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:U.S. GAAPInternational Financial Reporting Standards as issued by the International Accounting Standards BoardOtherIf “Other” has been checked in response to the previous question, indicate by check mark which financial statementitem the registrant has elected to follow. Item 17 Item 18If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2of the Exchange Act). Yes No
Cross-reference tableto Form 20-FForm 20-FItem Number Form 20-F HeadingSection in DocumentITEM 1N/AITEM 2ITEM 33A3B3C3DITEM 44AIDENTITY OF DIRECTORS, SENIORMANAGEMENT AND ADVISERSOFFER STATISTICS AND EXPECTEDTIMETABLEKEY INFORMATIONSelected Financial DataCapitalization and IndebtednessReasons for the Offer and Use ofProceedsRisk FactorsINFORMATION ON THE COMPANYHistory and Development of theCompany4BBusiness Overview4COrganizational Structure4DProperty, Plants and Equipment4AITEM 55A5B5C5D5E5F5GITEM 66A6B6C6D6EN/AGeneral facts on Nokia—Selected financial dataN/AN/AOperating and financial review and prospects—Risk factorsCover page, Overview, Introduction and use of certain terms; General facts on Nokia—Our history;Operating and financial review and prospects—Liquidity and capital resources; Operating and financialreview and prospects—Material subsequent events; Financial statements—Notes to consolidatedfinancial statements—Note 4, Segment information; Financial statements—Notes to consolidatedfinancial statements—Note 5, AcquisitionsBusiness overview; Operating and financial review and prospects—Principal industry trends affectingoperations; Financial statements—Notes to consolidated financial statements—Note 4, Segmentinformation; General facts on Nokia—Government regulationOverview—This is Nokia—Organizational structure and reportable segments; Financial statements—Notes to consolidated financial statements—Note 4, Segment information; Financial statements—Notesto consolidated financial statements—Note 32, Principal Group companiesBusiness overview; Financial statements—Notes to consolidated financial statements—Note 2,Significant accounting policies; Financial statements—Notes to consolidated financial statements—Note6, Disposals treated as Discontinued operations; Financial statements—Notes to consolidated financialstatements—Note 15, Property, plant and equipmentNoneUNRESOLVED STAFF COMMENTSOPERATING AND FINANCIAL REVIEWAND PROSPECTSOperating ResultsOperating and financial review and prospects—Principal industry trends affecting operations; Financialstatements—Notes to consolidated financial statements—Note 2, Significant accounting policies;Financial statements—Notes to consolidated financial statements—Note 36, Risk managementLiquidity and Capital ResourcesOperating and financial review and prospects—Liquidity and capital resources; Financial statements—Notes to consolidated financial statements—Note 24, Fair value of financial instruments; Financialstatements—Notes to consolidated financial statements—Note 25, Derivative financial instruments;Financial statements—Notes to consolidated financial statements—Note 30, Commitments andcontingencies; Financial statements—Notes to consolidated financial statements—Note 36, RiskmanagementResearch and Development,Business overview—Networks business—Research and development; Business overview—NetworksPatents and Licensesbusiness— Patents and licenses; Business overview—Nokia Technologies—Research and development;Business overview—Nokia Technologies—Patents and licenses; Operating and financial review andprospects—Results of operations; Operating and financial review and prospects—Results of segmentsTrends InformationBusiness overview; Operating and financial review and prospects— Principal industry trends affectingoperationsOff-Balance Sheet Arrangements Operating and financial review and prospects—Liquidity and capital resources—Off-Balance SheetArrangements; Financial statements—Notes to consolidated financial statements—Note 36, Riskmanagement; Financial statements—Notes to consolidated financial statements—Note 30,Commitments and contingenciesTabular Disclosure of Contractual Financial statements—Notes to consolidated financial statements—Note 30, Commitments andObligationscontingenciesSafe HarborForward-looking statementsDIRECTORS, SENIOR MANAGEMENTAND EMPLOYEESDirectors and Senior Management Corporate governance—Corporate governance statementCompensationCorporate governance—Compensation; Financial statements—Notes to consolidated financialstatements—Note 35, Related party transactionsBoard PracticesCorporate governance—Corporate governance statement; Corporate governance—Compensation—Remuneration Report; Financial statements—Notes to consolidated financial statements—Note 35,Related party transactionsEmployeesOperating and financial review and prospects—EmployeesShare OwnershipCorporate governance—Compensation—Remuneration Report; Financial statements—Notes toconsolidated financial statements—Note 26, Share-based paymentNOKIA ANNUAL REPORT ON FORM 20-F 2017
Form 20-FItem Number Form 20-F HeadingITEM 77A7BMAJOR SHAREHOLDERS ANDRELATED PARTY TRANSACTIONSMajor ShareholdersRelated Party Transactions7CITEM 88ASection in DocumentGeneral facts on Nokia—Shares and shareholdersGeneral facts on Nokia—Related party transactions, Financial statements—Notes to consolidatedfinancial statements—Note 35, Related party transactionsN/AInterests of Experts and CounselFINANCIAL INFORMATIONConsolidated Statements andFinancial statements; Report of independent registered public accounting firm; Operating and financialOther Financial Informationreview and prospects—Dividend8BSignificant ChangesOperating and financial review and prospects—Material subsequent eventsITEM 9THE OFFER AND LISTING9AOffer and Listing DetailsGeneral facts on Nokia—Shares and shareholders9BPlan of DistributionN/A9CMarketsGeneral facts on Nokia—Shares and shareholders9DSelling ShareholdersN/A9EDilutionN/A9FExpenses of the IssueN/AITEM 10ADDITIONAL INFORMATION10A Share capitalN/A10B Memorandum and ArticlesGeneral facts on Nokia—Memorandum and Articles of Association; Other information—Exhibitsof Association10C Material ContractsGeneral facts on Nokia—Our history; Other information—Exhibits10D Exchange ControlsGeneral facts on Nokia—Controls and procedures—Exchange controls10E TaxationGeneral facts on Nokia—Taxation10F Dividends and Paying AgentsN/A10G Statement by ExpertsN/A10H Documents on DisplayOther information—Investor information—Documents on display10I Subsidiary InformationN/AITEM 11QUANTITATIVE AND QUALITATIVE Financial statements—Notes to consolidated financial statements—Note 36, Risk ManagementDISCLOSURES ABOUT MARKET RISKITEM 12DESCRIPTION OF SECURITIESOTHER THAN EQUITY SECURITIES12A Debt SecuritiesN/A12B Warrants and RightsN/A12C Other SecuritiesN/A12D American Depositary SharesGeneral facts on Nokia—Shares and shareholders—Depositary fees and charges; General facts onNokia—Shares and shareholders—Depositary payments in 2017ITEM 13DEFAULTS, DIVIDEND ARREARAGES NoneAND DELINQUENCIESITEM 14MATERIAL MODIFICATIONS TO THE NoneRIGHTS OF SECURITY HOLDERSAND USE OF PROCEEDSITEM 15CONTROLS AND PROCEDURESCorporate governance—Regulatory framework—Risk management, internal control and internal auditfunctions at Nokia; General facts on Nokia—Controls and proceduresITEM 16A AUDIT COMMITTEE FINANCIALCorporate governance—Corporate governance statement—Members of the Board of Directors—EXPERTCommittees of the Board of Directors16B CODE OF ETHICSCorporate governance—Corporate governance statement—Members of the Board of Directors—Further information16C PRINCIPAL ACCOUNTANT FEES AND Corporate governance—Corporate governance statement—Auditor fees and services, CorporateSERVICESgovernance—Corporate governance statement—Audit Committee pre-approval policies and procedures16D EXEMPTIONS FROM THE LISTINGN/ASTANDARDS FOR AUDITCOMMITTEES16E PURCHASES OF EQUITY SECURITIES General facts on Nokia—Shares and shareholders—Authorization to repurchase sharesBY THE ISSUER AND AFFILIATEDPURCHASERS16F CHANGE IN REGISTRANT’SNoneCERTIFYING ACCOUNTANT16G CORPORATE GOVERNANCECorporate governance—Corporate governance statement—Regulatory framework16H MINE SAFETY DISCLOSUREN/AITEM 17FINANCIAL STATEMENTSN/AITEM 18FINANCIAL STATEMENTSFinancial StatementsITEM 19EXHIBITSOther information—ExhibitsNOKIA ANNUAL REPORT ON FORM 20-F 2017
Forward-looking statementsIt should be noted that Nokia and itsbusinesses are exposed to various risks anduncertainties and certain statements hereinthat are not historical facts areforward-looking statements, including,without limitation, those regarding:L) statements preceded by or including“believe”, “expect”, “anticipate”,“foresee”, “sees”, “target”, “estimate”,“designed”, “aim”, “plans”, “intends”,“focus”, “continue”, “project”, “should”,“is to”, “will” or similar expressions.A) our ability to integrate acquiredbusinesses into our operations andachieve the targeted business plans andbenefits, including targeted benefits,synergies, cost savings and efficiencies;These statements are based onmanagement’s best assumptions andbeliefs in light of the information currentlyavailable to it. Because they involve risksand uncertainties, actual results maydiffer materially from the results that wecurrently expect. Factors, including risksand uncertainties that could cause thesedifferences include, but are not limited to:B) expectations, plans or benefits related toour strategies and growth management;C) expectations, plans or benefits related tofuture performance of our businesses;D) expectations, plans or benefits related tochanges in organizational and operationalstructure;E) expectations regarding marketdevelopments, general economicconditions and structural changes;F) expectations and targets regardingfinancial performance, results, operatingexpenses, taxes, currency exchangerates, hedging, cost savings andcompetitiveness, as well as results ofoperations including targeted synergiesand those related to market share, prices,net sales, income and margins;G) expectations, plans or benefits related toany future collaboration or to businesscollaboration agreements or patentlicense agreements or arbitration awards,including income to be received under anycollaboration or partnership, agreementor award;H) timing of the deliveries of our productsand services;I) expectations and targets regardingcollaboration and partneringarrangements, joint ventures or thecreation of joint ventures, and the relatedadministrative, legal, regulatory and otherconditions, as well as our expectedcustomer reach;J) outcome of pending and threatenedlitigation, arbitration, disputes, regulatoryproceedings or investigations byauthorities;K) expectations regarding restructurings,investments, capital structure optimizationefforts, uses of proceeds fromtransactions, acquisitions and divestmentsand our ability to achieve the financial andoperational targets set in connection withany such restructurings, investments,capital structure optimization efforts,divestments and acquisitions; and1) our strategy is subject to various risksand uncertainties and we may be unableto successfully implement our strategicplans, sustain or improve the operationaland financial performance of our businessgroups, correctly identify or successfullypursue business opportunities orotherwise grow our business;2) general economic and market conditionsand other developments in the economieswhere we operate;3) competition and our ability to effectivelyand profitably invest in new competitivehigh-quality products, services, upgradesand technologies and bring them tomarket in a timely manner;4) our dependence on the developmentof the industries in which we operate,including the cyclicality and variabilityof the information technology andtelecommunications industries;5) our dependence on a limited numberof customers and large multi-yearagreements;6) our ability to maintain our existing sourcesof intellectual property-related revenue,establish new sources of revenue andprotect our intellectual property frominfringement;7) our global business and exposureto regulatory, political or otherdevelopments in various countries orregions, including emerging marketsand the associated risks in relation totax matters and exchange controls,among others;8) our ability to achieve the anticipatedbenefits, synergies, cost savings andefficiencies of acquisitions, includingthe acquisition of Alcatel Lucent, andour ability to implement changes toour organizational and operationalstructure efficiently;9) our ability to manage and improve ourfinancial and operating performance,cost savings, competitiveness andsynergies generally and after theacquisition of Alcatel Lucent;10) exchange rate fluctuations, as well ashedging activities;11) our ability to successfully realize theexpectations, plans or benefits relatedto any future collaboration or businesscollaboration agreements and patentlicense agreements or arbitration awards,including income to be received under anycollaboration, partnership, agreementor arbitration award;12) our dependence on IPR technologies,including those that we have developedand those that are licensed to us, and therisk of associated IPR-related legal claims,licensing costs and restrictions on use;13) our exposure to direct and indirectregulation, including economic ortrade policies, and the reliability ofour governance, internal controls andcompliance processes to preventregulatory penalties in our businessor in our joint ventures;14) our reliance on third-party solutions fordata storage and service distribution,which expose us to risks relating to security,regulation and cybersecurity breaches;15) inefficiencies, breaches, malfunctionsor disruptions of informationtechnology systems;16) Nokia Technologies’ ability to generatenet sales and profitability throughlicensing of the Nokia brand, technologylicensing and the development and salesof products and services for instance indigital health, as well as other businessventures, which may not materializeas planned;17) our exposure to various legal frameworksregulating corruption, fraud, tradepolicies, and other risk areas, and thepossibility of proceedings orinvestigations that result in fines,penalties or sanctions;18) adverse developments with respect tocustomer financing or extended paymentterms we provide to customers;NOKIA ANNUAL REPORT ON FORM 20-F 2017
19) the potential complex tax issues, taxdisputes and tax obligations we may facein various jurisdictions, including the riskof obligations to pay additional taxes;20) our actual or anticipated performance,among other factors, which could reduceour ability to utilize deferred tax assets;21) our ability to retain, motivate, develop andrecruit appropriately skilled employees;22) disruptions to our manufacturing, servicecreation, delivery, logistics and supplychain processes, and the risks relatedto our geographically-concentratedproduction sites;23) the impact of litigation, arbitration,agreement-related disputes or productliability allegations associated with ourbusiness;24) our ability to re-establish investmentgrade rating or maintain our credit ratings;25) our ability to achieve targeted benefitsfrom, or successfully implement plannedtransactions, as well as the liabilitiesrelated thereto;26) our involvement in joint ventures andjointly-managed companies;27) the carrying amount of our goodwillmay not be recoverable;28) uncertainty related to the amount ofdividends and equity return we are ableto distribute to shareholders for eachfinancial period;29) pension costs, employee fund-relatedcosts, and healthcare costs; and30) risks related to undersea infrastructure,as well as the risk factors specified under“Operating and financial review andprospects—Risk factors” of this annualreport on Form 20-F and in our otherfilings or documents furnished with theU.S. Securities and Exchange Commission.Other unknown or unpredictable factorsor underlying assumptions subsequentlyproven to be incorrect could cause actualresults to differ materially from those inthe forward-looking statements. We donot undertake any obligation to publiclyupdate or revise forward-lookingstatements, whether as a result of newinformation, future events or otherwise,except to the extent legally required.NOKIA ANNUAL REPORT ON FORM 20-F 2017Introduction and use of certaintermsNokia Corporation is a public limited liabilitycompany incorporated under the laws ofthe Republic of Finland. In this annual reporton Form 20-F, any reference to “we,” “us,”“the Group,” “the company” or “Nokia”means Nokia Corporation and its consolidatedsubsidiaries and generally to Nokia’sContinuing operations, except where weseparately specify that the term means NokiaCorporation or a particular subsidiary orbusiness segment only or our Discontinuedoperations. References to “our shares”matters relating to our shares or matters ofcorporate governance refer to the shares andcorporate governance of Nokia Corporation.Nokia Corporation has published itsconsolidated financial statements in eurofor periods beginning on or after January 1,1999. In this annual report on Form 20-F,references to “EUR,” “euro” or “ ” are to thecommon currency of the European Economicand Monetary Union, and references to“dollars”, “U.S. dollars”, “USD” or “ ” are tothe currency of the United States. Solely forthe convenience of the reader, this annualreport on Form 20-F contains conversionsof selected euro amounts into U.S. dollars atspecified rates or, if not so specified, at theyear-end rate of 1.1993 U.S. dollars per euro,which was the European Central Bankreference rate on December 29, 2017. Norepresentation is made that the amountshave been, could have been or could beconverted into U.S. dollars at the ratesindicated or at any other rates.The information contained in, or accessiblethrough, the websites linked throughoutthis annual report on Form 20-F is notincorporated by reference into this documentand should not be considered a part ofthis document.Nokia Corporation furnishes Citibank, N.A.,as Depositary, with its consolidated financialstatements and a related audit opinion ofour independent auditors annually. Thesefinancial statements are prepared on thebasis of International Financial ReportingStandards as issued by the InternationalAccounting Standards Board and inconformity with IFRS as adopted by theEuropean Union (“IFRS”). In accordancewith the rules and regulations of the SEC,we do not provide a reconciliation of netincome and shareholders’ equity in ourconsolidated financial statements toaccounting principles generally acceptedin the United States, or U.S. GAAP. We alsofurnish the Depositary with quarterly reportscontaining unaudited financial informationprepared on the basis of IFRS, as well as allnotices of shareholders’ meetings and otherreports and communications that are madeavailable generally to our shareholders.The Depositary makes these notices, reportsand communications available for inspectionby record holders of American DepositaryReceipts (“ADRs”), evidencing AmericanDepositary Shares (“ADSs”), and distributesto all record holders of ADRs noticesof shareholders’ meetings received bythe Depositary.In addition to the materials delivered toholders of ADRs by the Depositary, holderscan access our consolidated financialstatements, and other information includedin our annual reports and proxy materials,at nokia.com/financials. This annual reporton Form 20-F is also available at nokia.com/financials as well as on Citibank’s website athttps://app.irdirect.net/company/49733/hotline/. Holders may also request a hard copyof this annual report by calling the toll-freenumber 1-877-NOKIA-ADR (1-877-665-4223),or by directing a written request to Citibank,N.A., Shareholder Services, PO Box 43077,Providence, RI 02940-3081, United States.With each annual distribution of our proxymaterials, we offer our record holders of ADRsthe option of receiving all of these documentselectronically in the future.
OverviewContentsOverview 01This is Nokia 02Key data 04Business overview Letter from our President and CEO Our role as a global technology leader Our values Our strategy Our leadership Our businesses Operating and financial reviewand prospects Principal industry trends affectingoperations Results of operations Results of segments Liquidity and capital resources Material subsequent events Sustainability and corporateresponsibility Employees Dividend Risk factors Shares and share capital Board of Directors and management Articles of Association NOKIA ANNUAL REPORT ON FORM 20-F ate governance Corporate governance statement Compensation 9294108General facts on Nokia Our history Memorandum and Articlesof Association Selected financial data Shares and shareholders Depositary payments in 2017 Related party transactions Production of infrastructureequipment and products Key ratios Controls and procedures Government regulation Sales in United States-sanctionedcountries Taxation 124126Financial statements Consolidated primary statements Notes to consolidated financialstatements Report of independent registeredpublic accounting firm 147148Other information Exhibits Glossary of terms Investor information Contact information Signatures 415421401
This is NokiaWe create the technology to connect the world.Powered by the research and innovation of Nokia BellLabs, we serve communications service providers,governments, large enterprises and consumers,with the industry’s most complete, end-to-endportfolio of products, services and licensing.Nokia is enabling the infrastructure for 5G andthe Internet of Things, and shaping the future oftechnology to transform the human experience.We have combined global leadership in mobileand fixed network infrastructure with thesoftware, services and advanced technologiesto serve customers in approximately 130countries around the world. We are drivingthe transition to smart, virtual networks andconnectivity by creating one single networkfor all services, converging mobile and fixedbroadband, IP routing and optical networks,with the software and services to managethem. Our research scientists and engineerscontinue to invent new technologies that willincreasingly transform the way people andthings communicate and connect including5G, ultra broadband access, IP andSoftware Defined Networking (“SDN”),cloud applications, Internet of Things (“IoT”),as well as security platforms, data analytics,and sensors.02Through our six business groups, we have aglobal presence with operations in Europe,the Middle East & Africa, Greater China, NorthAmerica, Asia-Pacific, India, and Latin America.We also have research and development(“R&D”) facilities in Europe, North America andAsia, and at the end of 2017, we employedapproximately 103 000 people.Countries of operationWe closed 2017 delivering net sales ofEUR 23.1 billion. We continued to makesignificant targeted R&D investments, abedrock of our success in innovation, withR&D expenditures equaling EUR 4.9 billionin 2017. 103 000 130Number of employees as ofDecember 31, 2017R&D investment in 2017EUR 4.9bnNOKIA ANNUAL REPORT ON FORM 20-F 2017
OverviewOrganizational structure andreportable segmentsWe have organized our networks-orientedbusinesses into five business groups: MobileNetworks, Fixed Networks, Global Services,IP/Optical Networks, and Nokia Software(together the “Networks business”); and havekept our driver of future innovation andlicensing, Nokia Technologies, as a separate,sixth business group. For descriptions ofour business groups, refer to “Businessoverview—Networks business” and“Business overview—Nokia Technologies”.We have four reportable segments:(i) Ultra Broadband Networks, comprisedof the Mobile Networks and the FixedNetworks business groups, (ii) Global Services,comprised of the Global Services businessgroup, (iii) IP Networks and Applications,comprised of the IP/Optical Networks andNokia Software business groups (all within ourNetworks business), and (iv) Nokia Technologies.On February 1, 2018, we announced that wewould rename our Applications & Analyticsbusiness group as Nokia Software, effectiveimmediately, to better reflect our strategy andfocus on building a strong, standalone softwarebusiness. In this annual report we refer toNokia Software throughout the document.Additionally, we report the results of otherbusiness activities that are not reportablesegments within Group Common andOther, such as our undersea cables business,Alcatel-Lucent Submarine Networks (“ASN”),and our antenna systems business, RadioFrequency Systems (“RFS”), in aggregate. BothASN and RFS are being managed as separatebusinesses. We are continuing the strategicreviews of both businesses. Refer to Note 4,Segment information, of our consolidatedfinancial statements included in this annualreport on Form 20-F.Our reportable segments and business groupsUltra BroadbandNetworksIP Networks andApplicationsMobile NetworksHigher qualityand more reliablemobile broadbandexperiencesIP/Optical NetworksMassively scalablenetworks securelyconnecting everyoneand everythingto the cloudFixed NetworksUsing intelligentaccess to createnetworks that arefaster, better,smarterNokia Software*Intelligent softwareplatforms optimizingand automatingnetwork performanceGlobalServicesGlobal ServicesHelping customersnavigate throughcomplexity totransform theirbusinessNokiaTechnologiesNokia TechnologiesTechnologydesigned to bringthe human familycloser together* As of February 1, 2018 the Applications & Analytics business group was renamed Nokia Software.NOKIA ANNUAL REPORT ON FORM 20-F 201703
Key dataNet sales 2017Gross margin 2017Dividend per share 2017Net cash as of December 31, 2017EUR 23.1bnEUR 0.19The following table setsforth summary financial andnon-financial information forthe years ended December 31,2017 and December 31, 2016for our Continuing operations.This data has been derivedfrom our consolidated financialstatements, which are included inthis annual report on Form 20-F.39.5%EUR 4.5bnFor the year ended December 31Net salesNokia’s Networks businessUltra Broadband NetworksGlobal ServicesIP Networks and ApplicationsNokia TechnologiesGroup Common and OtherGross marginOperating profit/(loss)Nokia’s Networks businessUltra Broadband NetworksGlobal ServicesIP Networks and ApplicationsNokia TechnologiesGroup Common and OtherUnallocated items(1)Operating marginFinancial income and expenses, netIncome t
As filed with the Securities and Exchange Commission on March 22, 2018 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2017 Commission file number 1-13202 Nokia Corporation
Nokia Asha 303 6 6 Nokia Asha 311 6 6 Nokia C1-01 6 6 Nokia C2-02 6 6 Nokia C5-00 6 6 Nokia Lumia 610 46 6 Nokia Lumia 620 346 116 Nokia Lumia 720 426 186 Nokia Lumia 800 579 379 . Xbox 360 4GB Kinect Sports 386 66 ZTE Blade 6 6 ZTE Blade III 6 6 ZTE KIS 6 6 . P4 SP. Z O.O./UL.
First in the world - Nokia Asha 308/3080 (RM-838) Full USB Flash First in the world - Nokia Asha 309/3090 (RM-843) Full USB Flash First in the world - Nokia Asha 310 (RM-911) Full USB Flash First in the world - Nokia Asha 501 (RM-902) Full USB Flash Nokia Infineon XGold618: First in the world - Nokia Asha 301 (RM-840) Full USB Flash Nokia Rapido:
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Nokia 6101 and Nokia 6102 User Guide 2 Copyright 2005 Nokia DECLARATION OF CONFORMITY We, NOKIA CORPORATION declare under our sole responsibility that the product .
2 Nokia 1996 Ten Highlights Nokia won a significant contract for delivery of dual band and dual mode handsets, operating in three different networks to AT&T Wireless Services, Inc. (AWS). Nokia created an entirely new product category with the Nokia 9000 Communicator, the world's first all-in-one voice and data communications device.
The information contained in this user guide was written for the Nokia 3200 product. Nokia operates a policy of ongoing development. Nokia reserves the right to make changes to any of the products described in this document without prior notice. UNDER NO CIRCUMSTANCES SHALL NOKIA BE RESPONSIBLE FOR ANY LOSS OF DATA
The information contained in this user guide was written for the Nokia 3200 product. Nokia operates a policy of ongoing development. Nokia reserves the right to make changes to any of the products described in this document without prior notice. UNDER NO CIRCUMSTANCES SHALL NOKIA BE RESPONSIBLE FOR ANY LOSS OF
Nokia 300 Nokia 303 Nokia 302 Specifications: Touch Phone 2 MP Camera 1600x1200 pixels Bluetooth v2.1 Internal 10 MB memory Support Micro SD up to 32 GB 3.5mm jack Model: Nokia 305 Rs 10,750 3 (0%) 6 (0%) 12 18 24 30 36 3,583 1,792 1,111 812 663 573 514 MONTHLY INSTALMENTS Model: Nokia 302 3 (0%) 6 (0%) 12 18 24 30 36
