Nokia - Company Announcement

Nokia completes the acquisition of Withings

Nokia Corporation
Stock Exchange Release
May 31, 2016 at 15:00 (CET +1)

Nokia completes the acquisition of Withings

Espoo, Finland - Nokia today announced that it has closed the acquisition of
Withings S.A. earlier than had been expected. Through this acquisition,
originally announced on April 26, 2016, Nokia Technologies has established a new
Digital Health business unit led by Cédric Hutchings, formerly CEO of Withings,
who reports to Ramzi Haidamus, president of Nokia Technologies.

The Digital Health business unit combines the talented employees from Withings
and experts from the preventive health and patient care teams in Nokia
Technologies. The new business unit builds on the pioneering work of Withings,
offering a family of award-winning digital health products designed to fit
seamlessly into people's lives, empowering them to make smarter decisions about
the health and wellbeing of themselves and their families. The product line
includes activity trackers, smart body analyzer scales, thermometers, blood
pressure monitors, home and baby monitors and more, built on a sophisticated
digital health platform. Together, under Cédric's leadership, the Digital Health
team will continue to design smarter products for healthy living.

"This is the beginning of an exciting new chapter in the history of Nokia
Technologies as we extend our product portfolio to include a series of powerful
digital health technologies," said Ramzi Haidamus, president, Nokia
Technologies. "The Nokia brand is synonymous with innovation, connectivity and
consumer technology and the acquisition of Withings puts us in a perfect
position to capitalize on the huge opportunity in the health space. We're
excited to welcome the Withings team to the Nokia family."

On June 9, Nokia Technologies will be hosting an invitation only event in San
Francisco to share its vision for digital health and showcase its products,
coinciding with the opening of its San Francisco office, in the heart of the Bay
Area.

About Nokia Technologies
Nokia Technologies is Nokia's advanced technology and licensing business. Formed
in 2014, TECH builds upon our solid foundation of industry-leading licensing and
technology R&D capabilities. By focusing on Digital Health, Digital Media, Brand
Licensing and Patent Licensing, TECH is expanding the human possibilities of the
ever-evolving world of technology. In 2015, Nokia Technologies launched OZO, the
world's first virtual reality (VR) camera designed for professionals.

About Nokia
Nokia is a global leader in the technologies that connect people and things.
Powered by the innovation of Nokia Bell Labs and Nokia Technologies, the company
is at the forefront of creating and licensing the technologies that are
increasingly at the heart of our connected lives.

With state-of-the-art software, hardware and services for any type of network,
Nokia is uniquely positioned to help communication service providers,
governments, and large enterprises deliver on the promise of 5G, the Cloud and
the Internet of Things. www.nokia.com

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

Investor Enquiries:
Nokia Investor Relations
Tel. +358 4080 3 4080
Email: investor.relations@nokia.com

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 our strategies and growth
management; B) expectations, plans or benefits related to future performance of
our businesses; C) expectations regarding market developments, general economic
conditions and structural changes; D) expectations and targets regarding
financial performance, results, operating expenses, taxes, cost savings and
competitiveness, as well as results of operations including targeted synergies
and those related to market share, prices, net sales, income and margins; E)
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; and F) 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. Factors, including risks and uncertainties, that could cause
such differences include, but are not limited to: 1) our ability to execute our
strategy, sustain or improve the operational and financial performance of our
business or correctly identify or successfully pursue business opportunities or
growth; 2) our dependence on general economic and market conditions and other
developments in the economies where we operate; 3) our dependence on the
development of the industries in which we operate, including the Digital Health
and Telecommunications industries; 4) our exposure to regulatory, political or
other developments in various countries or regions, including emerging markets
and the associated risks in relation to healthcare, tax matters and exchange
controls, among others; 5) our ability to effectively and profitably compete and
invest in new competitive high-quality products, services, upgrades and
technologies and bring them to market in a timely manner; 6) Nokia Technologies'
ability to maintain and establish new sources of patent licensing income and
IPR-related revenues, particularly in the smartphone market; 7) our dependence
on IPR technologies, including those that we have developed and those that are
licensed to us, and the risk of associated IPR-related legal claims, licensing
costs and restrictions on use; 8) our exposure to direct and indirect
regulation, including healthcare related regulation, economic or trade policies,
and the reliability of our governance, internal controls and compliance
processes to prevent regulatory penalties; 9) our reliance on third-party
solutions for data storage and the distribution of products and services, which
expose us to risks relating to security, regulation and cybersecurity breaches;
10) Nokia Technologies' ability to generate net sales and profitability through
licensing of the Nokia brand, the development and sales of products and
services, as well as other business ventures which may not materialize as
planned; 11) our ability to retain, motivate, develop and recruit appropriately
skilled employees; 12) our ability to manage our manufacturing, service
creation, delivery, logistics and supply chain processes, and the risk related
to our geographically concentrated production sites; 13) the impact of
unfavorable outcome of litigation, arbitration, agreement-related disputes or
allegations of product liability associated with our businesses;  14)
inefficiencies, breaches, malfunctions or disruptions of information technology
systems; 15) our ability to achieve targeted benefits from or successfully
implement planned transactions, as well as the liabilities related thereto; 16)
our ability to manage and improve our financial and operating performance, cost
savings, competitiveness and synergy benefits after the acquisition of Alcatel
Lucent; and 17) unexpected liabilities with respect to pension plans, insurance
matters and employees, as well as the risk factors specified on pages 69 to 87
of our annual report on Form 20-F filed on April 1, 2016 under "Operating and
financial review and prospects-Risk factors", as well as in Nokia's other
filings with the U.S. Securities and Exchange Commission. 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. We do 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.




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