October 25, 2014 6:56 PM ET

Communications Equipment

Company Overview of Nokia Corporation

Company Overview

Nokia Corporation is engaged in the network infrastructure, location-based technologies, and advanced technologies businesses worldwide. The company operates through four segments: Mobile Broadband, Global Services, HERE, and Technologies. The Mobile Broadband segment provides mobile operators with radio and core network software together with the hardware needed to deliver mobile voice and data services. The Global Services segment offers mobile operators with a range of services, including network implementation, care, managed services, and network planning and optimization, as well as systems integration services. The HERE segment focuses on the development of location intelligence, locat...

Karakaari 7

Espoo,  02610

Finland

Founded in 1865

55,244 Employees

Phone:

358 1044 88000

Fax:

358 1044 81002

Key Executives for Nokia Corporation

Group Chief Financial Officer
Age: 48
Total Annual Compensation: $1.2M
Compensation as of Fiscal Year 2013.

Nokia Corporation Key Developments

Nokia Appoints Sean Fernback as President of HERE, Effective November 1, 2014

Nokia announced the appointment of Sean Fernback as President of HERE, Nokia's mapping and location intelligence business, and as a member of the Group Leadership team, with effect from November 1, 2014. Sean Fernback, who has been serving as Senior Vice President at HERE, is a trained engineer and a technology expert with deep experience in the location, automotive, consumer and telecommunication businesses gained across a 25 year career. Sean Fernback joined the company in early 2014 from TomTom, where he was a Senior Vice President of Engineering & Product Development and a member of the management team. At TomTom, he was responsible for overall consumer map production and distribution for the consumer market, hardware development, manufacturing and software engineering. Prior to joining TomTom in 2006, Sean served as chief technology officer of both TV Compass and Boardbug; chief information officer of Pogo, and other entrepreneurial positions.

Nokia Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 2014; Provides Financial Guidance for the Full Year of 2014

Nokia Corporation reported earnings results for the third quarter and nine months ended September 2014. For the quarter, the company reported net sales from continuing operations of €3,324 million against €2,938 million a year ago. Operating profit (non-IFRS) was €457 million against €344 million a year ago. Operating loss was €810 million against operating profit of €262 million a year ago. Profit (non-IFRS) was €353 million against €206 million a year ago. Profit for the period was €760 million against €138 million a year ago. EPS, diluted (non-IFRS) was €0.09 against €0.06 a year ago. EPS, diluted was €0.19 against €0.04 a year ago. Net cash from operating activities was €406 million. For the nine months, the company reported net sales from continuing operations of €8,930 million against €9,232 million a year ago. Operating profit (non-IFRS) was €1,108 million against €1,028 million a year ago. Operating loss was €283 million against operating profit of €244 million a year ago. Profit (non-IFRS) was €739 million against €562 million a year ago. Profit for the period was €844 million against loss of €143 million a year ago. EPS, diluted (non-IFRS) was €0.19 against €0.12 a year ago. EPS, diluted was €0.21 against €0.00 a year ago. Net cash from operating activities was €2,059 million. Nokia now expects Nokia Networks' non-IFRS operating margin for the full year 2014 to be slightly above 11%. This compares to Nokia's previous outlook for Nokia Networks' non-IFRS operating margin for the full year 2014 to be at or slightly above the higher end of Nokia Networks' targeted long-term non-IFRS operating margin range of 5% to 10%. In addition, Nokia continues to expect Nokia Networks' net sales to grow on a year-on-year basis in the second half 2014. During 2014, Nokia continues to expect HERE to invest to capture longer-term transformational growth opportunities while taking steps to increase its focus on its automotive and enterprise businesses. Nokia continues to expect these investments to negatively affect HERE's 2014 non-IFRS operating margin. Nokia expects Nokia Technologies' annualized net sales to continue at a run rate of approximately €600 million during 2014. Nokia currently expects financial income and expenses, including net interest expenses and the impact from changes in foreign exchange rates on certain balance sheet items, to amount to an expense of approximately €40 million on a quarterly basis, subject to changes in foreign exchange rates and the level of interest bearing liabilities. Nokia now expects full year 2014 capital expenditures for continuing operations to be approximately €250 million, primarily attributable to capital expenditures by Nokia Networks. This compares to Nokia's previous outlook for full year 2014 capital expenditures for continuing operations of approximately €200 million. The increase in expected capital expenditures for continuing operations for the full year 2014 is primarily due to additional operational investments, including capacity enhancements, in Nokia Networks. On a non-IFRS basis, after having recognized the deferred tax assets related to its operations in Finland and Germany in third quarter 2014, Nokia now expects to record tax expenses at a long-term effective tax rate of approximately 25%.

Nokia Corporation, Q3 2014 Earnings Call, Oct 23, 2014

Nokia Corporation, Q3 2014 Earnings Call, Oct 23, 2014

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