Nokia 2014 Annual Report Download - page 11

Business overview
09NOKIA IN 2014
“...what I am most
proud of is our work
to redene the
company’s values and
outline the position
to which we aspire.”
HERE returned to growth in the second half of
the year. In October, we announced we would
refocus the business’ strategy on automotive,
where momentum is excellent; on enterprise,
which is small but growing fast; and on
location content for mobile device vendors
and internet players. As part of that shift,
wedeprioritized monetizing our
direct-to-consumer business, but will still
deploy apps and other consumer oerings
tosupport our priority areas. In fact, HERE’s
Android app has been downloaded extensively
and reviews have been very positive. We are
also improving HERE’s operational eciency,
drawing on best practices from across
thecompany.
Nokia Technologies took steps to monetize
itsremarkable patent portfolio, closing new
licensing deals in 2014 with both existing
and new customers, many of which are from
outside the mobile industry. These deals
included the settlement with HTCinFebruary
2014 and the closing of a license agreement
with Microsoft in April 2014. Wealso launched
our rst brand-licensed product, the Nokia N1
Android tablet. In 2014, we accelerated
investments in Nokia Technologies to
ensurewe have the pipeline of innovation
andbusiness infrastructure needed for
futuresuccess.
Just as important as what we delivered in the
year is how we are positioned for the future.
We refreshed the strategies for each of our
three businesses; put in place the Nokia
Business System to help optimize our
investments, manage performance and
develop our talent and future leaders; and
honed our portfolio management approach
to allocate resources based on their value
creation potential. With these actions,
Ibelieve that we are well positioned for
futurevalue creation.
While I am pleased with the above
achievements, what I am most proud of is
ourwork to redene the company’s values
and outline the position to which we aspire.
Let me start with our values: respect,
achievement, renewal and challenge.
These four simple words feel natural to who
we are at Nokia, and can inspire us for the
future. They can provide a foundation for
making decisions in the absence of perfect
information, and as a guide for behavior,
fordecision-making, for action. Employees
have responded to the values with
enthusiasm, and already they are part of the
“glue” that brings the new Nokia together.
Then, our position in the world. As we look to
the future, our three businesses are focused
on a technological shift that we believe will be
as profound as the creation of the internet
itself. We are entering a hyper-connected
world where almost all people and tens of
billions of devices are all linked together in
extraordinary ways; ways that can unleash
human potential and well-being like never
before. That is why, at Nokia, we are focused
on the human possibilities of technology; on
technology grounded in real human needs
that is truly in the service of people.
In 2015, Nokia will celebrate its 150-year
anniversary, a longevity that few other
companies can match. It is also the 150th
anniversary of the birth of Finland’s national
composer, Jean Sibelius, who once said:
“Never write an unnecessary note. Every note
must live.” That ts well with our belief at
Nokia. Our ambitions are big and we are
committed to building on the warmth and
passion that continue to live on for our brand
and our company. But we are tempered
bypragmatism and a belief in getting the
maximum benet for our shareholders
fromevery euro that we spend.
That is our challenge as a company, and my
challenge as its President and Chief Executive
Ocer. It was a great honor to be appointed
Nokia President and CEO in 2014 after an
almost 20-year career with the company. My
commitment to all of you is to do everything
that I can to lead Nokia to future success in
the right way: with humility, a commitment to
high ethical standards, and a deep belief in the
power of our values and the diversity of the
world in which we live.
Rajeev Suri
President and CEO
Nokia’s 150-year
anniversary
As we celebrate Nokia’s
150th anniversary,
our path has been
one of adapting to
shifts in markets and
technologies. It has
taken us from one
paper mill, through
participation in many
sectors, to our strategic
decision to focus on
telecommunications. This
heritage of change and
innovation will continue
to shape our future.
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on page 108