Nokia 2004 Annual Report Download - page 23
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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 device and communications network markets
and the mobile communications 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.
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