Nokia 2003 Annual Report Download - page 124
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Notes to the Consolidated Financial Statements (Continued)
2. Segment information
Nokia is organized on a worldwide basis into three primary business segments: Nokia Mobile
Phones, Nokia Networks, and Nokia Ventures Organization. Nokia’s reportable segments are
strategic business units that offer different products and services for which monthly financial
information is provided to the Board.
Nokia Mobile Phones develops, manufactures and supplies mobile phones and wireless data
products, including a complete range of mobile phones for all major digital and analog standards
worldwide.
Nokia Networks is a leading provider of mobile and IP network infrastructure and related services.
Nokia Networks aims to be a leader in IP mobility core, radio and broadband access for network
providers and operators.
Nokia Ventures Organization exists to create new businesses outside the natural development path
of the company’s core activities. The unit comprises venture capital activities, incubation, and a
portfolio of new ventures, including two more mature businesses: Nokia Internet Communications
and Nokia Home Communications.
Common Group Functions consists of common research and general Group functions.
The accounting policies of the segments are the same as those described in Note 1. Nokia accounts
for intersegment revenues and transfers as if the revenues or transfers were to third parties, that
is, at current market prices. Nokia evaluates the performance of its segments and allocates
resources to them based on operating profit.
F-15