Nokia - Company Announcement

Nokia brand licensee HMD Global is now the new home of Nokia phones

Nokia Corporation
Stock Exchange Release
December 1, 2016 at 12:00 (CET +1)

Nokia brand licensee HMD Global is now the new home of Nokia phones

Espoo,  Finland - Nokia confirms that  the strategic agreement covering branding
rights  and intellectual property licensing with HMD Global Oy (HMD), originally
announced on May 18, 2016 has come into force.

HMD  has today announced the completion  of transactions between HMD, FIH Mobile
Limited  (a  subsidiary  of  Hon  Hai  Precision  Industries  trading as Foxconn
Technology  Group) and Microsoft,  which means that  HMD can begin operations as
the new home of Nokia phones, under an exclusive global brand license(1) for the
next ten years.

Nokia  branded feature phones remain  one of the most  popular choices of mobile
phone  in many markets  around the world  today and HMD  will continue to market
them  as part of an  integrated portfolio, alongside a  new range of smartphones
and tablets to be announced later by HMD.

Under  the agreement, Nokia will receive royalty  payments from HMD for sales of
every   Nokia   branded  mobile  phone  and  tablet,  covering  both  brand  and
intellectual property rights. Nokia is not an investor or shareholder in HMD.

Brad Rodrigues, interim president of Nokia Technologies, said:

"We've  been overwhelmed by the enthusiasm shown around the world for the return
of  the Nokia brand to smartphones. The HMD Global team has the ambition, talent
and  resources to bring a new generation  of Nokia branded phones to market, and
we  wish them every success. I'm sure our millions of Nokia fans will be excited
to see their new products!"

Today  also sees  the return  of Nokia  branded phones  to the  Nokia website at
www.nokia.com/phones. The website for Nokia phones is operated by HMD.

(1 )Excluding Japan



About Nokia

Nokia  is  a  global  leader  in  creating  the technologies at the heart of our
connected  world. Powered by the research and  innovation of Nokia Bell Labs, we
serve  communications  service  providers,  governments,  large  enterprises and
consumers,  with the industry's most complete, end-to-end portfolio of products,
services and licensing.

From  the enabling infrastructure for 5G and the Internet of Things, to emerging
applications in virtual reality and digital health, we are shaping the future of
technology to transform the human experience. 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



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, currency exchange
rates,  hedging,  cost  savings  and  competitiveness,  as  well  as  results of
operations;  E)  timing  of  the  deliveries  of  our  products and services; F)
expectations  and targets  regarding collaboration  and partnering arrangements,
joint-ventures  or  the  creation  of  joint-ventures,  as  well as our expected
customer  reach; G) outcome  of pending and  threatened litigation, arbitration,
disputes,  regulatory  proceedings  or  investigations  by  authorities;  and H)
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 cyclicality and
variability  of the telecommunications industry;  4) our exposure to regulatory,
political  or  other  developments  in  various  countries or regions, including
emerging  markets  and  the  associated  risks  in  relation  to 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 brand and 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) 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; 9) the impact
of unfavorable outcome of litigation, arbitration, agreement-related disputes or
allegations  of product  liability associated  with our businesses; 10) exchange
rate  fluctuations, as well  as hedging activities;  11) performance failures by
our  partners or failure to agree to partnering arrangements with third parties;
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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