Nokia 2013 Annual Report Download - page 144

NOKIA IN 2013
142
FORWARD-LOOKING STATEMENTS
It should be noted that Nokia and its business are exposed to
various risks and uncertainties and certain statements herein that
are not historical facts are forward-looking statements, includ-
ing, without limitation, those regarding: A) expectations, plans or
benefits related to Nokia’s new strategy; B) expectations, plans
or benefits related to future performance of Nokia’s continuing
businesses Networks, HERE and Technologies; C) expectations,
plans or benefits related to changes in leadership and opera-
tional structure; D) expectations regarding market developments,
general economic conditions and structural changes; E) expecta-
tions and targets regarding performance, including those related
to market share, prices, net sales and margins; F) the timing of
the deliveries of our products and services; G) expectations and
targets regarding our financial performance, cost savings and
competitiveness as well as results of operations; H) expectations
and targets regarding collaboration and partnering arrangements;
I) the outcome of pending and threatened litigation, disputes,
regulatory proceedings or investigations by authorities; J) expec-
tations regarding restructurings, investments, uses of proceeds
from transactions, acquisitions and divestments and our ability
to achieve the financial and operational targets set in connec-
tion with any such restructurings, investments, divestments and
acquisitions, including any expectations, plans or benefits related
to or caused by the transaction announced on September , 
where Nokia sold substantially all of Nokia’s Devices & Services
business to Microsoft on April ,  (“Sale of the D&S Busi-
ness”); K) statements preceded by or including “believe,” “expect,”
“anticipate,” “foresee,” “sees,” “target,” “estimate,” “designed,”
“aim”, “plans,” “intends,” “focus”, “continue”, “project”, “should”,
“will” or similar expressions. These statements are based on man-
agement’s best assumptions and beliefs in light of the information
currently available to it. Because they involve risks and uncertain-
ties, actual results may differ materially from the results that we
currently expect. Factors, including risks and uncertainties that
could cause these differences include, but are not limited to: )
our ability to execute our new strategy successfully and in a timely
manner, and our ability to successfully adjust our operations; )
our ability to sustain or improve the operational and financial
performance of our continuing businesses and correctly identify
business opportunities or successfully pursue new business
opportunities; ) our ability to execute Networks’ strategy and ef-
fectively, profitably and timely adapt its business and operations
to the increasingly diverse needs of its customers and technologi-
cal developments; ) our ability within our Networks business to
effectively and profitably invest in and timely introduce new com-
petitive high-quality products, services, upgrades and technolo-
gies; ) our ability to invent new relevant technologies, products
and services, to develop and maintain our intellectual property
portfolio and to maintain the existing sources of intellectual prop-
erty related revenue and establish new such sources; ) our ability
to protect numerous patented standardized or proprietary tech-
nologies from third-party infringement or actions to invalidate the
intellectual property rights of these technologies; ) our ability
within our HERE business to maintain current sources of revenue,
historically derived mainly from the automotive industry, create
new sources of revenue, establish a successful location-based
platform and extend our location-based services across devices
and operating systems; ) effects of impairments or charges to
carrying values of assets, including goodwill, or liabilities; ) our
dependence on the development of the mobile and communica-
tions industry in numerous diverse markets, as well as on general
economic conditions globally and regionally; ) our Networks
business’ dependence on a limited number of customers and large,
multi-year contracts; ) our ability to retain, motivate, develop
and recruit appropriately skilled employees; ) the potential
complex tax issues and obligations we may face, including the
obligation to pay additional taxes in various jurisdictions and our
actual or anticipated performance, among other factors, could
result in allowances related to deferred tax assets; ) our ability
to manage our manufacturing, service creation and delivery, and
logistics efficiently and without interruption, especially if the
limited number of suppliers we depend on fail to deliver sufficient
quantities of fully functional products and components or deliver
timely services; ) potential exposure to contingent liabilities due
to the Sale of the D&S Business and possibility that the agree-
ments we have entered into with Microsoft may have terms that
prove to be unfavorable to us; ) any inefficiency, malfunction
or disruption of a system or network that our operations rely on
or any impact of a possible cybersecurity breach; ) our ability to
reach targeted results or improvements by managing and improv-
ing our financial performance, cost savings and competitiveness;
) management of Networks’ customer financing exposure; )
the performance of the parties we partner and collaborate with,
and our ability to achieve successful collaboration or partnering
arrangements; ) our ability to protect the technologies, which
we develop, license, use or intend to use from claims that we
have infringed third parties’ intellectual property rights, as well
as, impact of possible licensing costs, restriction on our usage of
certain technologies, and litigation related to intellectual property
rights; ) the impact of regulatory, political or other develop-
ments on our operations and sales in those various countries or
regions where we do business; ) exchange rate fluctuations,
particularly between the euro, which is our reporting currency, and
the US dollar, the Japanese yen and the Chinese yuan, as well as
certain other currencies; ) our ability to successfully implement
planned transactions, such as acquisitions, divestments, mergers
or joint ventures, manage unexpected liabilities related thereto
and achieve the targeted benefits; ) the impact of unfavorable
outcome of litigation, contract related disputes or allegations of
health hazards associated with our business, as well as the risk
factors specified in the most recent Nokia’s annual report on Form
-F under Item D. “Risk Factors”. Other unknown or unpredict-
able factors or underlying assumptions subsequently proven 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 state-
ments, whether as a result of new information, future events or
otherwise, except to the extent legally required.