March 2011

Nokia’s mission is simple, Connecting People.

Our strategic intent is to build great mobile products.
Our job is to enable billions of people everywhere to get more of life’s opportunities through
mobile.

News - new strategy, new leadership, new operational structure

Nokia has recently outlined its new strategic direction, including changes in leadership and
operational structure to accelerate the company’s speed of execution in a dynamic competitive
environment.

Major elements of the new strategy include:

 Plans for a broad strategic partnership with Microsoft to jointly build a new
winning mobile ecosystem.

 A renewed approach to capture volume and value growth to connect ”the next billion” to
the Internet in developing growth markets

 Focused investments in next-generation disruptive technologies

 A new leadership team and organizational structure with a clear focus on speed, results
and accountability

“Nokia is at a critical juncture, where significant change is necessary and inevitable in our
journey forward,” said Stephen Elop, Nokia President and CEO. “Today, we are accelerating that
change through a new path, aimed at regaining our smartphone leadership, reinforcing our
mobile device platform and realizing our investments in the future.”

The strategy

Nokia’s strategy is about investing in and ensuring Nokia’s future. “I have incredible optimism
because I can see fresh opportunity for us to innovate, to differentiate, to build great mobile
products, like never before, and at a speed that will surpass what we have accomplished in the
past,” Elop said. “We are going forward. We are not going backwards. We have a strategy. We
have a path. We have a future. And we can deliver great mobile products. And despite all of
these changes, we remain true to our mission, that of Connecting People.”

Regaining our leadership in the smartphone space

Nokia plans to form a broad strategic partnership with Microsoft to jointly build a global
ecosystem that creates opportunities beyond anything that currently exists. It brings together
highly complementary assets and competences. The Nokia-Microsoft ecosystem targets to
deliver differentiated and innovative products with unrivalled scale in product breadth,
geographical reach, and brand identity.

Nokia would adopt Windows Phone as its primary smartphone platform, helping drive and
define the future of the platform by leveraging its expertise on hardware optimization, software
customization, and language support. Nokia and Microsoft would also combine services assets to
drive innovation. Nokia Maps, for example, would be at the heart of key Microsoft assets such as
Bing and AdCenter, and Nokia’s application and content store would be integrated into
Microsoft Marketplace. Under the proposed partnership, Microsoft would provide developer
tools, making it easier for application developers to leverage Nokia’s global scale.

While Nokia transitions to the Windows Phone platform, Symbian will continue to offer
considerable value to Nokia, to our customers, developers and consumers. 200 million people
use Symbian globally, and Nokia will modernize the platform through investments in completely
new devices with new features, hardware improvements such as GHz+ processing capabilities
and significantly increased graphics speed, as well as software improvements.

Maintaining our volume and value leadership in the mobile phones space

In feature phones, Nokia’s strategy is to leverage its innovation and strength in growth markets
to connect the next billion people to their first Internet and application experience. By providing
compelling and affordable, localized mobile experiences, particularly to the emerging markets,
our ambition is to bring the next billion online. We will continue the renewal of our Series 40
platform in QWERTY, touch&type, dual SIM, Nokia services, including Maps, Browser, Life
Tools, Web apps and Money. We are also investing in the future; developing assets (platform,
software, apps), which will bring a modern mobile experience to the mobile phone consumers
and enable business opportunities for developers. These investments will be especially focused
on growth economies.

Sustaining our future as the world’s leading mobile manufacturer

To make sure we get ahead of the game on industry innovation evolution, our MeeGo efforts will
transition into an ongoing long-term market exploration of the next generation of devices,
platforms and user experiences.

New leadership team, operational structure and governance to drive the change in strategy
This new strategy is supported by significant changes in Nokia’s leadership, operational structure
and approach. The renewed governance will expedite decision-making and improve time-to-
market of products and innovations, placing a heavy focus on results, speed and accountability.
The new strategy and operational structure are expected to have significant impact to Nokia
operations and personnel.

The first Nokia century began with Fredrik Idestam's paper mill on the banks of the Nokianvirta
river. Between 1865 and 1967, the company would become a major industrial force; but it took a
merger with a cable company and a rubber firm to set the new Nokia Corporation on the path to
electronics...

The newly formed Nokia Corporation was ideally positioned for a pioneering role in the early
evolution of mobile communications. As European telecommunications markets were
deregulated and mobile networks became global, Nokia led the way with some iconic products...

In 1992, Nokia decided to focus on its telecommunications business. This was probably the most
important strategic decision in its history.

As adoption of the GSM standard grew, new CEO Jorma Ollila put Nokia at the head of the
mobile telephone industry’s global boom – and made it the world leader before the end of the
decade...

Nokia’s story continues with 3G, mobile multiplayer gaming, multimedia devices and a look to
the future...

2002: First 3G phone

Nokia launches its first 3G phone, the Nokia 6650.

2003: Nokia launches the N-Gage

Mobile gaming goes multiplayer with the N-Gage.
 2005: The Nokia Nseries is born
Nokia introduces the next generation of multimedia devices, the Nokia Nseries.

2005: The billionth Nokia phone is sold

Nokia sells its billionth phone – a Nokia 1100 – in Nigeria. Global mobile phone subscriptions
pass 2 billion.

2006: A new President and CEO – Nokia today

Olli-Pekka Kallasvuo becomes Nokia’s President and CEO; Jorma Ollila becomes Chairman of
Nokia’s board. Nokia and Siemens announce plans for Nokia Siemens Networks.

2007
Nokia recognized as 5th most valued brand in the world. Nokia Siemens Networks commences
operations. Nokia launches Ovi, its new internet services brand.

2008
Nokia's three mobile device business groups and the supporting horizontal groups are replaced
by an integrated business segment, Devices & Services.