Nokia - Company Announcement

LG Electronics and Nokia Technologies agree on smartphone patent license

Nokia Corporation
Stock Exchange Release
June 16, 2015 at 10:30 (CET +1)

LG Electronics and Nokia Technologies agree on smartphone patent license

Espoo, Finland - LG Electronics has agreed to take a royalty-bearing smartphone
patent license from Nokia Technologies. The Korean company is the latest of more
than 60 licensees for Nokia's 2G, 3G and 4G mobile communication technologies
and the first major smartphone manufacturer to join the licensing program since
Nokia divested its Devices & Services business to Microsoft in 2014."We are pleased to welcome LG Electronics to our licensing program," said Ramzi
Haidamus, President of Nokia Technologies. "We've worked constructively with LG
Electronics and agreed a mutually beneficial approach, including the use of
independent arbitration to resolve any differences. This agreement sets the
scene for further collaboration between our companies in future."

The detailed royalty payment obligations will be subject to commercial
arbitration, expected to conclude within a 1-2 year timeframe. Other terms of
the agreement remain confidential between the two companies.

RISKS AND FORWARD-LOOKING STATEMENTS

It should be noted that Nokia and its businesses are exposed to various risks
and uncertainties and certain statements herein that are not historical facts
are forward-looking statements, including, without limitation, those regarding:
A) expectations, plans or benefits related to Nokia's strategies; B)
expectations, plans or benefits related to future performance of Nokia's
businesses Nokia Networks, HERE and Nokia Technologies; C) expectations, plans
or benefits related to changes in our management and other leadership,
operational structure and operating model; D) expectations regarding market
developments, general economic conditions and structural changes; E)
expectations and targets regarding performance, including those related
to market share, prices, net sales and margins; F) timing of the deliveries of
our products and services; G) expectations and targets regarding our financial
performance, operating expenses, taxes, cost savings and  competitiveness, as
well as results of operations; H) expectations and targets regarding
collaboration and partnering arrangements; I) outcome of pending and threatened
litigation, arbitration, disputes, regulatory proceedings or investigations by
authorities; J) expectations regarding restructurings, investments, uses of
proceeds from transactions, acquisitions and divestments and our ability to
achieve the financial and operational targets set in connection with any such
restructurings, investments, divestments and acquisitions, including any
expectations, plans or benefits related to or caused by the transaction where
Nokia sold substantially all of its Devices & Services business to Microsoft on
April 25, 2014; and 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 the management's best assumptions and beliefs in
light of the information currently available to it. Because they involve risks
and uncertainties, actual results may differ materially from the results that we
currently expect. We describe the risks and uncertainties that affect the Nokia
Group or are relevant to all Nokia businesses at the beginning of this section
and provide towards the end information on additional risks that are primarily
related to the individual Nokia businesses: Nokia Networks, HERE and Nokia
Technologies. Factors, including risks and uncertainties that could cause such
differences include, but are not limited to: 1) our ability to identify market
trends and business opportunities to select and execute strategies successfully
and in a timely manner, and our ability to successfully adjust our operations
and operating models; 2) our ability to sustain or improve the operational and
financial performance of our businesses and correctly identify or successfully
pursue new business opportunities; 3) our dependence on general economic
and market conditions; 4) our exposure to regulatory, political or other
developments in various countries or regions; 5) 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 property related revenue and establish new such sources; 6) our
ability to protect our intellectual property rights and defend against third-
party infringements and claims that we have  infringed third parties'
intellectual property rights, as well as increased licensing costs and
restrictions on our ability to use certain technologies; 7) the potential
complex tax issues, tax disputes and tax obligations we may face, including the
obligation to pay additional taxes in various jurisdictions and our actual or
anticipated performance, among other factors, which could reduce our ability to
utilize deferred tax assets; 8) our ability to retain, motivate, develop and
recruit appropriately skilled employees; 9) the performance of the parties we
partner and collaborate with, as well as that of our financial counterparties,
and our ability to achieve successful collaboration or partnering arrangements;
10) 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; 11) the impact of unfavorable outcome of
litigation, arbitration, contract-related disputes or allegations of health
hazards associated with our businesses; 12) any inefficiency, malfunction or
disruption of a system or network that our operations rely on or any impact of
a possible cybersecurity breach; 13) our ability to achieve targeted benefits
from or successfully implement planned transactions, such as acquisitions,
divestments, mergers or joint ventures, and manage unexpected liabilities
related thereto; 14) our ability to manage our operating expenses and reach
targeted results through efforts aimed at improving our financial performance,
for instance through cost savings and other efforts aimed at increased
competitiveness; 15) our ability to optimize our capital structure as planned
and re-establish our investment grade credit rating; 16) Nokia Networks' ability
to execute its strategy or to effectively and profitably adapt its business and
operations in a timely manner to the increasingly diverse needs of its customers
in the mobile broadband infrastructure and related services market or to such
technological developments; 17) Nokia Networks' ability to effectively
and profitably invest in new competitive high-quality products, services,
upgrades and technologies and bring them to market in a timely manner; 18) Nokia
Networks' dependence on a limited number of customers and large multi-year
agreements and adverse effects as a result of further operator consolidation;
19) Nokia Networks' ability to manage our manufacturing, service creation and
delivery, as well as our logistics efficiently and without interruption; 20)
Nokia Networks' dependence on a limited number of suppliers, who may fail to
deliver sufficient quantities of fully functional products and components
or deliver timely services meeting our customers' needs; 21) adverse
developments with respect to customer financing or extended payment terms Nokia
Networks provides to customers; 22) the intense competition HERE faces and its
ability to effectively and profitably invest in new competitive high-quality
services and data and bring these to market in a timely manner or adjust
its operations efficiently; 23) HERE's dependence on the overall automotive
market developments and customer business conditions; 24) HERE's dependence,
especially with respect to sales to the automotive industry, on a limited number
of customers and large multi-year agreements; 25) Nokia Technologies' ability to
maintain its existing sources of intellectual property related revenue or
establish new sources; 26) Nokia Technologies' dependence on a limited number of
key licensees that contribute proportionally significant patent licensing
income, including the outcome of the binding arbitration with Samsung expected
in 2015; 27) Nokia Technologies' dependence on adequate regulatory protection
for patented or other propriety technologies; and 28) Nokia Technologies'
ability to execute its plans through business areas such as technology
licensing, licensing the Nokia brand and other business ventures including
technology innovation and incubation, as well as the risk factors specified on
pages 74 to 89 of Nokia's latest annual report on Form 20-F under "Operating and
Financial Review and Prospects-Risk factors" and in our Interim Report issued on
April 30, 2015. Other unknown or unpredictable 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
statements, whether as a result of new information, future events or otherwise,
except to the extent legally required.

About Nokia
Nokia invests in technologies important in a world where billions of devices are
connected. We are focused on three businesses: network infrastructure software,
hardware and services, which we offer through Nokia Networks; location
intelligence, which we provide through HERE; and advanced technology development
and licensing, which we pursue through Nokia Technologies. Each of these
businesses is a leader in its respective field. http://company.nokia.com

Media Enquiries
Nokia
Communications
Tel. +358 (0) 10 448 4900
Email: press.services@nokia.com


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