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Quarterly and annual Information Nokia in Q3 2011 October 20, 2011 During the third quarter, we continued to take the action necessary to drive the structural changes required for Nokia’s long-term success. Read more * Reported net sales of EUR 8 980 million (EUR 10 270 million in Q3 2010) * Reported operating loss of EUR 71 million (operating profit of EUR 403 million) * Reported earnings per share (diluted) of EUR -0.02 (EUR 0.14) Net sales by business group Q3 2011 EURm % of total net sales Devices & Services 5 392 60 Smart Devices 2 206 25 Mobile Phones 2 903 32 NAVTEQ 241 2 Nokia Siemens Networks 3 413 38 Nokia Group 8 980 100 Personnel by business group September 30, 2011 Devices & Services 54 871 NAVTEQ 5 818 Nokia Siemens Networks 74 954 Group Common Functions 306 Nokia Group 135 949 Nokia outlook (October 20, 2011) * Nokia expects its non-IFRS Devices & Services operating margin in the fourth quarter 2011 to be between 1% and 5%. This outlook is based on our expectations regarding a number of factors, including: o competitive industry dynamics; o an expected sequential increase in Devices & Services net sales; o an expected greater-than-normal seasonal increase in Devices & Services operating expenses as Nokia launches new products; o timing, ramp-up, and consumer demand related to our new products; o availability of components from our suppliers; and o the macroeconomic environment. * Nokia continues to target to reduce Devices & Services non-IFRS operating expenses by more than EUR 1 billion for the full year 2013, compared to the full year 2010 Devices & Services non-IFRS operating expenses of EUR 5.65 billion. * Nokia continues to expect Nokia Group net cash and other liquid assets at the end of 2011 to be above the EUR 3.9 billion balance at the end of the second quarter 2011. * Nokia and Nokia Siemens Networks expect Nokia Siemens Networks’ net sales to be between EUR 3.7 billion and EUR 4.0 billion in the fourth quarter 2011. * Nokia and Nokia Siemens Networks expect the non-IFRS operating margin in Nokia Siemens Networks to be between 1% and 4% in the fourth quarter 2011. * Nokia and Nokia Siemens Networks continue to expect Nokia Siemens Networks’ net sales to grow faster than the market in 2011. * Nokia and Nokia Siemens Networks continue to expect Nokia Siemens Networks’ non-IFRS operating margin to be above breakeven in 2011. * Nokia and Nokia Siemens Networks continue to expect Nokia Siemens Networks to reduce its non-IFRS annualized operating expenses and production overheads by EUR 500 million by the end of 2011, compared to the end of 2009. * The outlook relating to Nokia Siemens Networks includes the impact of the acquisition of Motorola Solutions' networks assets. Copyright ©2011 Nokia. All rights reserved.