Nokia 2003 Annual Report Download - page 28
Download and view the complete annual report
Please find page 28 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
 |
 |
31JAN200414504699
•
Culture and values:
We attribute much of our success to our unique corporate culture,
which emphasizes and values product innovation, customer satisfaction and employees
motivated by high levels of trust, independence and opportunities for personal and
professional enrichment.
New Organizational Structure
Until January 1, 2004, Nokia’s organizational and reporting structure consisted of two main
business groups, Nokia Mobile Phones and Nokia Networks, as well as the company’s venturing
arm, Nokia Ventures Organization, and the common group functions. Towards the end of 2003,
Nokia took the decision, effective January 1, 2004, to reorganize its structure in a move to further
align the company’s overall structure with its strategy. Nokia’s new structure includes four
business groups which form the main reporting structure: Mobile Phones; Multimedia; Networks;
and Enterprise Solutions, which provide us with a strong organizational base to make progress in
the mobility industry and which also build on the changes that were first implemented in Nokia
Mobile Phones in 2002.
The new structure also includes three horizontal groups that support the business groups:
Customer and Market Operations; Technology Platforms; and Research, Venturing and Business
Infrastructure. The horizontal groups will not be separate reporting entities, but their costs will be
carried mainly by the business groups and some included in the Common Group Expenses. Within
the new structure, we believe that each business group is positioned to meet the specific needs of
diverse market segments, while the horizontal groups are designed to increase Nokia’s operational
efficiency and competitiveness and to maintain our strong economies of scale.
Our historical financial and operating results discussed in this annual report are based upon our
organizational and reporting structure up until the end of 2003, while the description of our
current business reflects our new organizational and reporting structure effective January 1, 2004.
For a breakdown of our net sales and other operating results by category of activity and
geographical location, please see Note 2 to the financial statements included in Item 18 of this
annual report. Our statements related to the new organizational structure in this Form 20-F
describe our organization effective as from January 1, 2004. Even though the new organizational
and reporting structure is effective in substantial respects, certain details have not yet been
finalized.
The following chart shows Nokia’s new organizational structure:
Customer and
Market
Operations
Technology
Platforms
Research,
Venturing
and Business
Infrastructure
Mobile
Phones Multimedia Networks Enterprise
Solutions
27