Nokia 2003 Annual Report Download - page 91
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entered against the Uzans once certain appeal issues have been resolved. We wrote off our total
financing exposure to Telsim prior to 2003.
In 1999, Nokia entered into a license agreement with InterDigital Technology Corporation (IDT) for
certain technology that provided for a fixed royalty payment through 2001 and most favored
licensee treatment from 2002 through 2006. The patents being licensed were subject to litigation
by other manufacturers. In March 2003, IDT settled patent litigation with Ericsson and Sony-
Ericsson and announced that it intended to apply the settlement royalty rates to Nokia under the
most favored licensee provision. After failed attempts at negotiating a settlement, Nokia filed an
arbitration demand seeking access to information necessary to an evaluation of the matter that
has been withheld by IDC. IDC has responded with a counterclaim seeking to apply the Ericsson
and Sony-Ericsson royalty rates to Nokia. Nokia believes that the claim is without merit and
intends to defend the matter vigorously.
Based upon the information currently available, management does not expect the resolution of
any of the matters discussed above to have a material adverse effect on our financial condition or
results of operations.
8.A.8 See ‘‘Item 3.A Selected Financial Data—Distribution of Earnings’’ for a discussion of our
dividend policy.
8.B Significant Changes
No significant changes have occurred since the date of our consolidated financial statements
included in this Form 20-F. See ‘‘Item 5.D Trend Information.’’
ITEM 9. THE OFFER AND LISTING
9.A Offer and Listing Details
Our capital consists of shares traded on the Helsinki Exchanges under the symbol ‘‘NOK1V.’’
American Depositary Shares, or ADSs, each representing one of our shares are traded on the New
York Stock Exchange under the symbol ‘‘NOK.’’ The ADSs are evidenced by American Depositary
Receipts, or ADRs, issued by Citibank, N.A., as Depositary under the Amended and Restated Deposit
Agreement dated as of March 28, 2000 (as amended), among Nokia, Citibank, N.A. and registered
holders from time to time of ADRs. ADSs were first issued in July 1994.
The table below sets forth, for the periods indicated, the reported high and low quoted prices for
our shares on the Helsinki Exchanges and the high and low quoted prices for the shares, in the
form of ADSs, on the New York Stock Exchange. In 1999, Nokia effected a two-for-one share split,
effective in public trading on April 12, 1999. In 2000, Nokia effected a four-for-one share split,
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