Nokia 2003 Annual Report Download - page 22
Download and view the complete annual report
Please find page 22 of the 2003 Nokia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12 -
13 -
14 -
15 -
16 -
17 -
18 -
19 -
20 -
21 -
22 -
23 -
24 -
25 -
26 -
27 -
28 -
29 -
30 -
31 -
32 -
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
 |
 |
continued growth of the wireless sector in the United States. In addition, changes in regulation
affecting the construction of base stations and other network infrastructure could adversely affect
the timing and costs of new network construction or expansion and the commercial launch and
ultimate commercial success of these networks.
Moreover, the implementation of new technological or legal requirements, such as the
requirement in the United States that all handsets must be able to indicate their physical location,
could impact our products and solutions, manufacturing or distribution processes, and could affect
the timing of product and solution introductions, the cost of our production, products or solutions
as well as their commercial success. Finally, export control, tariff, environmental, safety and other
regulation that adversely affects the pricing or costs of our products and solutions as well as new
services related to our products could affect our net sales and results of operations. The impact of
these changes in regulation could affect our business adversely even though the specific
regulations do not always directly apply to us or our products and solutions.
See ‘‘Item 4.B Business Overview—Government Regulation’’ for a more detailed discussion about
the impact of various regulations.
Our share price has been and may continue to be volatile in response to conditions in the
global securities markets generally and in the communications and technology sectors in
particular.
Our share price has been subject to some volatility, in part due to generally volatile securities
markets, particularly for communications and technology companies’ shares, as well as
developments in our sales and results of operations. Factors other than Nokia’s results of
operations that may affect our share price include, among other things, market expectations of our
performance, projected developments in the mobile phone, device and communications network
markets and the mobility industry, and any adverse changes in our brand value. In addition, our
share price may be affected by factors such as the level of business activity or perceived growth in
the market in general, the performance of other technology companies, announcements by or the
results of operations of our competitors, customers and suppliers, potential litigation involving
ourselves or our industry, and announcements concerning the success of new products and
services, as well as general market volatility. See ‘‘Item 9.A Offer and Listing Details’’ for
information regarding the trading price history of our shares and ADSs.
21