Nokia - Company Announcement

Nokia announces plans to transfer Symbian software activities to Accenture; Accenture to provide future smartphone ecosystem services to Nokia

Nokia Corporation
Stock exchange release
April 27, 2011 at 11.15 (CET +1)

Espoo, Finland and New York, US - Nokia (NYSE: NOK) and Accenture (NYSE: ACN)
today announced plans for a strategic collaboration in which Nokia would
outsource its Symbian software activities and transition about 3,000 employees
to Accenture. At the same time, Accenture would provide mobility software
services to Nokia for future smartphones. 

The collaboration, which is subject to final agreement, calls for Accenture to
provide Symbian-based software development and support services, with the
expected transition of about 3,000 Nokia employees to Accenture. The companies
expect completion of the final agreement during summer 2011, and expect the
transition of employees by the end of the calendar year 2011. Transitioning
employees, located in China, Finland, India, United Kingdom and the United
States, will initially work on Symbian software activities for Nokia. Over
time, Accenture and Nokia will seek opportunities to retrain and redeploy
transitioned employees. 

This collaboration also includes plans for Accenture to provide mobility
software, business and operational services around the Windows Phone platform
to Nokia and other ecosystem participants. Under the proposed agreement,
Accenture would become a preferred partner for Nokia's smartphone development
activities, as well as a preferred provider of services. 

“Mobility is a key area for Accenture,” said Marty Cole, chief executive,
Accenture Communications and High Tech group. “This collaboration with Nokia
will enhance our ability to help clients across multiple industries leverage
mobility to advance their business agendas. It is a real win-win for Accenture
and Nokia”. 

“This collaboration demonstrates our ongoing commitment to enhance our Symbian
offering and serve our smartphone customers,” said Jo Harlow, executive vice
president for Smart Devices, Nokia. “As we move our primary smartphone platform
to Windows Phone, this transition of skilled talent to Accenture shows our
commitment to provide our Symbian employees with potential new career
opportunities.” 

Accenture and Nokia have been working together since 1994. In October 2009,
Accenture acquired Nokia's professional services unit that provides engineering
and support of the Symbian operating system to mobile device manufacturers and
service providers, and which then served as a key building block in Accenture's
Mobility services portfolio. 

About Accenture
Accenture is a global management consulting, technology services and
outsourcing company, with more than 215,000 people serving clients in more than
120 countries. Combining unparalleled experience, comprehensive capabilities
across all industries and business functions, and extensive research on the
world's most successful companies, Accenture collaborates with clients to help
them become high-performance businesses and governments.  The company generated
net revenues of USD21.6 billion for the fiscal year ended Aug. 31, 2010. Its
home page is www.accenture.com. 

Accenture is focused on enabling its clients to achieve breakthrough growth
throughout the rapidly changing mobile ecosystem. The Accenture Mobility
Services group offers five mobility services including consulting, software
services--applications, software services--devices and platforms, managed
services, and business integration services. These are designed to helporganizations embrace business to employee (B2E), business to consumer (B2C),
business to business (B2B) and machine to machine (M2M) business opportunities.
Accenture offers mobility and embedded software services across a wide range of
industries and platforms, including Symbian, WinMo (Microsoft Windows® Mobile),
Windows Phone, Android™, Blackberry®, iPhone®, Java™, Linux, Meego™. 

About Nokia
Nokia is committed to connecting people to what matters to them by combining
advanced mobile technology with personalized services. More than 1.3 billion
people connect to one another with a Nokia, from our most affordable
voice-optimized mobile phones to advanced Internet-connected smartphones sold
in virtually every market in the world. Through Ovi (www.ovi.com), people also
enjoy access to maps and navigation on mobile, a rapidly expanding applications
store, a growing catalog of digital music, free email and more. Nokia's NAVTEQ
is a leader in comprehensive digital mapping and navigation services, and Nokia
Siemens Networks is one of the leading providers of telecommunications
infrastructure hardware, software and professional services globally. 

Disclaimer
Accenture and Nokia have entered into a non-binding Letter of Intent. The
planned partnership remains subject to negotiations and execution of the
definitive agreements by the parties and there can be no assurances that the
definitive agreements would be entered into. 

FORWARD-LOOKING STATEMENTS
Except for the historical information and discussions contained herein,
statements in this news release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995,
including, without limitation, A) the plans for a strategic collaboration
between Nokia and Accenture and the related proposed agreement and its terms
(referred to below as the “transaction”); B) the timing and expected benefits
of the planned transaction, including expected operational and financial
benefits of the transaction to either of the parties or their employees, C) the
plan to seek opportunities to retrain and redeploy employees being transitioned
and D) any statements preceded by "believe,""expect,""anticipate,""foresee,""target,""estimate,""designed,""plans,""will" or similar expressions These
statements are not guarantees of future performance and involve a number of
risks, uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied. Forward-looking statements
are based upon assumptions as to future events that may not prove to be
accurate. Risks, uncertainties and other factors that might cause actual
results to differ from those expressed or implied include, but are not limited
to risks that: 1) Accenture and Nokia will not be able to agree on definitive
documentation for the strategic collaboration or close the planned transaction
in the time period anticipated, or at all; 2) the planned transaction might not
achieve the anticipated benefits for Accenture or for Nokia or the employees
being transitioned to Accenture, including the plans to seek opportunities to
retrain and redeploy these employees; 3) Accenture's results of operations
could be negatively affected if Accenture cannot expand and develop its
services and solutions in response to changes in technology and client demand;
4) Nokia's results of operations could be negatively affected if Nokia cannot
continue to serve its Symbian customers in the same or in an improved manner
than before the planned transaction; 5) Nokia's results of operations could be
negatively affected if it was not able to maintain the viability of its current
Symbian smartphone platform, including but not limited to the targeted levels
of sale of Symbian products; 6) Accenture's growth and ability to compete may
be adversely affected if Accenture cannot attract, retain and motivate
employees or efficiently utilize their skills, including those personnel
currently employed by the Nokia unit; 7) the risks, uncertainties and other
factors discussed under the “Risk Factors” heading in Accenture's most recent
annual report on Form 10-K and other documents filed with or furnished to the
Securities and Exchange Commission as well as 8) the risk factors specified on
pages 12-39 of Nokia's annual report Form 20-F for the year ended December 31,
2010 under Item 3D. "Risk Factors." Statements in this press release speak only
as of the date they were made. Other unknown or unpredictable factors or
underlying assumptions subsequently proving to be incorrect (including, without
limitation, assumptions regarding the number of transitioned employees likely
to be redeployed and the financial assumptions underlying the structure and
economic terms of the transaction) also could cause actual results to differ
materially from those in the forward-looking statements. Accenture or Nokia
undertakes no duty to publicly update or revise any forward-looking statements
made in this news release or to conform such statements to new information,
future events, actual results or changes in Accenture's or Nokia's
expectations, except to the extent legally required. 

Media Enquiries:

Nokia
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com

Accenture
Press Office
Tel. +358 2057 26049
Email: pressoffice.fi@accenture.com

www.nokia.com