Nokia 2004 Annual Report Download - page 45

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instill in each employee a set of four core values: customer satisfaction, respect, achievement and
renewal. We believe these are critical in order for a global organization such as Nokia to work
together effectively.
Nokia’s employee-value proposition framework remains strong. The four fundamentals of the
proposition, together with the elements encompassed by each of them, are as follows:
•
Nokia Way and Values:
fact-based management/value-based leadership, code of conduct,
equal opportunities, diversity, internal communications and feedback channels.
•
Performance-based rewarding:
base pay, equity-based instruments, Nokia ‘‘Connecting
People’’ bonus and incentive payments.
•
Professional and personal growth:
career development, job rotation, training and
performance management.
•
Work life balance:
health & safety, flexible working hours, telecommuting opportunities,
leave and benefits.
4.C Organizational Structure
The following is a list of Nokia’s significant subsidiaries as of December 31, 2004:
Nokia Nokia
Country of Ownership Voting
Company Incorporation Interest Interest
Nokia Inc. ........................................ United States 100% 100%
Nokia GmbH ...................................... Germany 100% 100%
Nokia UK Limited .................................. England & Wales 100% 100%
Nokia TMC Limited ................................. South Korea 100% 100%
Nokia Capitel Telecommunications Ltd ................. China 52.9% 52.9%
Nokia Finance International B.V. ...................... The Netherlands 100% 100%
Nokia Kom ´
arom Kft ................................ Hungary 100% 100%
Nokia do Brazil Technologia Ltda ..................... Brazil 100% 100%
Nokia Italia Spa ................................... Italy 100% 100%
Nokia India Ltd ................................... India 100% 100%
Dongguan Nokia Mobile Phones Company Ltd ........... China 70% 70%
Beijing Nokia Hang Xing Telecommunications
Systems Co. Ltd ................................. China 69% 69%
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