Nokia - Changes board/management/auditors

Changes in roles of Nokia management team members: Rick Simonson to head Mobile Phones business, Timo Ihamuotila appointed as CFO

Nokia Corporation                                                               
Stock Exchange Release                                                          
October 16, 2009 at 08:30 am (CET +1)                                           

Changes in roles of Nokia management team members: Rick Simonson to head Mobile 
Phones business, Timo Ihamuotila appointed as CFO                               

Finland, Espoo - Nokia today announced some changes in the roles of its Group   
Executive Board members. Rick Simonson, currently Nokia Chief Financial Officer,
has been appointed to head of the Mobile Phones entity within the Devices unit  
as of November 1, 2009. He will also head strategic sourcing for the whole of   
the Devices unit. Rick Simonson joined Nokia in 2001 and has been CFO since     
2004. He will continue to be a member of the Group Executive Board.             

Mobile Phones is one of two new entities within the Devices unit that came into 
operation on October 1, 2009, the other being Smartphones. Mobile Phones leads  
the portfolio, product and lifecycle management of all Series 30 and Series 40  
devices, which account for more than half of Devices & Services net sales and   
therefore represent a significant part of Nokia's business. Mobile Phones       
focuses on driving a media-rich mobile platform in devices that are already used
by hundreds of millions of people and growing, thereby also helping us to       
deliver mobile solutions.                                                       

Timo Ihamuotila, currently global head of sales, will transfer to the role of   
CFO as of November 1, 2009. Timo Ihamuotila first joined Nokia in 1993 and has  
held the position of Nokia Corporate Treasurer as well as several other senior  
positions in, for example, portfolio management of devices and most recently    
global sales of devices and services. Timo Ihamuotila will also continue to be a
member of the Group Executive Board.                                            

Says Nokia CEO, Olli-Pekka Kallasvuo: "After six successful years as CFO, it is 
great to have Rick move to such an important operational role. Rick Simonson's  
deep knowledge of the business and its financials will be valuable for the      
significant part Mobile Phones plays in Nokia's business. In addition to his    
background in finance, Timo Ihamuotila's expertise from leading a diverse range 
of business areas will be a tremendous asset in his position as CFO."

About Nokia                                                                     
Nokia is a pioneer in mobile telecommunications and the world's leading maker of
mobile devices. Today, we are connecting people in new and different ways -     
fusing advanced mobile technology with personalized services to enable people to
stay close to what matters to them. We also provide comprehensive digital map   
information through NAVTEQ; and equipment, solutions and services for           
communications networks through Nokia Siemens Networks.                         

FORWARD-LOOKING STATEMENTS                                                      
It should be noted that certain statements herein which are not historical      
facts, including, without limitation, those regarding: A) the timing of product,
services and solution deliveries; B) our ability to develop, implement and      
commercialize new products, services, solutions and technologies; C) our ability
to develop and grow our consumer Internet services business; D) expectations    
regarding market developments and structural changes; E) expectations regarding 
our mobile device volumes, market share, prices and margins; F) expectations and
targets for our results of operations; G) the outcome of pending and threatened 
litigation; H) expectations regarding the successful completion of contemplated 
acquisitions on a timely basis and our ability to achieve the set targets upon  
the completion of such acquisitions; and I) statements preceded by "believe,""expect,""anticipate,""foresee,""target,""estimate,""designed,""plans,""will" or similar expressions are forward-looking statements. These statements  
are based on 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 that could cause these differences include, but are   
not limited to: 1) the deteriorating global economic conditions and related     
financial crisis and their impact on us, our customers and end-users of our     
products, services and solutions, our suppliers and collaborative partners; 2)  
the development of the mobile and fixed communications industry, as well as the 
growth and profitability of the new market segments that we target and our      
ability to successfully develop or acquire and market products, services and    
solutions in those segments; 3) the intensity of competition in the mobile and  
fixed communications industry and our ability to maintain or improve our market 
position or respond successfully to changes in the competitive landscape; 4)    
competitiveness of our product, services and solutions portfolio; 5) our ability
to successfully manage costs; 6) exchange rate fluctuations, including, in      
particular, fluctuations between the euro, which is our reporting currency, and 
the US dollar, the Japanese yen, the Chinese yuan and the UK pound sterling, as 
well as certain other currencies; 7) the success, financial condition and       
performance of our suppliers, collaboration partners and customers; 8) our      
ability to source sufficient amounts of fully functional components,            
sub-assemblies, software and content without interruption and at acceptable     
prices; 9) the impact of changes in technology and our ability to develop or    
otherwise acquire and timely and successfully commercialize complex technologies
as required by the market; 10) the occurrence of any actual or even alleged     
defects or other quality, safety or security issues in our products, services   
and solutions; 11) the impact of changes in government policies, trade policies,
laws or regulations or political turmoil in countries where we do business; 12) 
our success in collaboration arrangements with others relating to development of
technologies or new products, services and solutions; 13) our ability to manage 
efficiently our manufacturing and logistics, as well as to ensure the quality,  
safety, security and timely delivery of our products, services and solutions;   
14) inventory management risks resulting from shifts in market demand; 15) our  
ability to protect the complex technologies, which we or others develop or that 
we license, from claims that we have infringed third parties' intellectual      
property rights, as well as our unrestricted use on commercially acceptable     
terms of certain technologies in our products, services and solutions; 16) our  
ability to protect numerous Nokia, NAVTEQ and Nokia Siemens Networks patented,  
standardized or proprietary technologies from third-party infringement or       
actions to invalidate the intellectual property rights of these technologies;   
17) any disruption to information technology systems and networks that our    
operations rely on; 18) developments under large, multi-year contracts or in    
relation to major customers; 19) the management of our customer financing       
exposure;  20) our ability to retain, motivate, develop and recruit             
appropriately skilled employees; 21) whether, as a result of investigations into
alleged violations of law by some former employees of Siemens AG ("Siemens"),   
government authorities or others take further actions against Siemens and/or its
employees that may involve and affect the carrier-related assets and employees  
transferred by Siemens to Nokia Siemens Networks, or there may be undetected    
additional violations that may have occurred prior to the transfer, or          
violations that may have occurred after the transfer, of such assets and        
employees that could result in additional actions by government authorities; 22)
any impairment of Nokia Siemens Networks customer relationships resulting from  
the ongoing government investigations involving the Siemens carrier-related     
operations transferred to Nokia Siemens Networks; 23) unfavorable outcome of    
litigations; 24) allegations of possible health risks from electromagnetic      
fields generated by base stations and mobile devices and lawsuits related to    
them, regardless of merit; as well as the risk factors specified on pages 11-28 
of Nokia's annual report on Form 20-F for the year ended December 31, 2008 under
Item 3D. "Risk Factors." Other unknown or unpredictable factors or underlying   
assumptions subsequently proving 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.                                          
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