Nokia 2011 Annual Report Download - page 9

25. the impact of changes in government policies, trade policies, laws or regulations where our
assets are located and where we do business;
26. the potential complex tax issues and obligations we may incur to pay additional taxes in the
various jurisdictions in which we do business;
27. any disruption to information technology systems and networks that our operations rely on;
28. unfavorable outcome of litigations;
29. allegations of possible health risks from electromagnetic fields generated by base stations
and mobile products and lawsuits related to them, regardless of merit;
30. Nokia Siemens Networks ability to implement its new strategy and restructuring plan
effectively and in a timely manner to improve its overall competitiveness and profitability;
31. Nokia Siemens Networks’ success in the telecommunications infrastructure services market
and Nokia Siemens Networks’ ability to effectively and profitably adapt its business and
operations in a timely manner to the increasingly diverse service needs of its customers;
32. Nokia Siemens Networks’ ability to maintain or improve its market position or respond
successfully to changes in the competitive environment;
33. Nokia Siemens Networks’ liquidity and its ability to meet its working capital requirements;
34. Nokia Siemens Networks’ ability to timely introduce new competitive products, services,
upgrades and technologies;
35. Nokia Siemens Networks’ ability to execute successfully its strategy for the acquired Motorola
Solutions wireless network infrastructure assets;
36. developments under large, multi-year contracts or in relation to major customers in the
networks infrastructure and related services business;
37. the management of our customer financing exposure, particularly in the networks
infrastructure and related services business;
38. whether ongoing or any additional governmental investigations into alleged violations of law
by some former employees of Siemens may involve and affect the carrier-related assets and
employees transferred by Siemens to Nokia Siemens Networks; and
39. any impairment of Nokia Siemens Networks customer relationships resulting from ongoing or
any additional governmental investigations involving the Siemens carrier-related operations
transferred to Nokia Siemens Networks,
as well as the risk factors specified in this annual report under Item 3D. “Risk Factors.”
Other unknown or unpredictable factors or underlying assumptions subsequently proving to be
incorrect could cause actual results to differ materially from those in the forward-looking statements.
Nokia does not undertake any obligation to publicly update or revise forward-looking statements,
whether as a result of new information, future events or otherwise, except to the extent legally required.
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