Nokia 2009 Annual Report Download - page 199

1. Accounting principles (Continued)
Group does not expect that the adoption of these new standards, interpretations and amendments
will have a material impact on the financial condition and results of operations.
The Group is required to adopt IFRS 9 by January 1, 2013 with earlier adoption permitted. The Group
is currently evaluating the potential impact of this standard on the Group’s accounts.
2. Segment information
Nokia is organized on a worldwide basis into three operating and reportable segments: Devices &
Services, NAVTEQ, and Nokia Siemens Networks. Nokia’s reportable segments represent the strategic
business units that offer different products and services for which monthly financial information is
provided to the chief operating decision maker.
As of January 1, 2008, the Group’s three mobile device business groups and the supporting horizontal
groups have been replaced by an integrated business segment, Devices & Services. Commencing with
the third quarter 2008, NAVTEQ is also a reportable segment. Prior period results for Nokia and its
reportable segments have been regrouped for comparability purposes according to the new
reportable segments effective in 2008.
Devices & Services is responsible for developing and managing our portfolio of mobile devices,
services and their combinations as well as designing and developing services, applications and
content. Devices & Services also manages our supply chains, sales channels, brand and marketing
activities, and explores corporate strategic and future growth opportunities for Nokia.
NAVTEQ is a leading provider of comprehensive digital map information and related locationbased
content and services for automotive navigation systems and mobile navigation devices, Internet
based mapping applications, and government and business solutions.
Nokia Siemens Networks provides mobile and fixed network solutions and related services to
operators and service providers.
Corporate Common Functions consists of company wide functions.
The accounting policies of the segments are the same as those described in Note 1. Nokia accounts
for intersegment revenues and transfers as if the revenues or transfers were to third parties, that is,
at current market prices. Nokia evaluates the performance of its segments and allocates resources to
them based on operating profit.
No single customer represents 10% or more of Group revenues.
F25
Notes to the Consolidated Financial Statements (Continued)