Preliminary view of the impact of the Japan earthquake on Nokia’s Devices & Services operations

Espoo, Finland - Following the devastating earthquake and tsunami in Japan, Nokia continues to evaluate the impact of this tragic event on its global operations. Although a complete picture is not available, Nokia expects some disruption to the ability of its Devices & Services unit to supply a number of products due to the currently anticipated industry-wide shortage of relevant components and raw materials sourced from Japan. However, Nokia does not expect any material impact on its Q1 2011 results due to this event.

“First and foremost, our thoughts are with those affected by the earthquake in Japan. We are working hard to support our employees, their families, as well as disaster relief efforts through the Japanese Red Cross,” says Niklas Savander, Executive Vice President, Markets, Nokia. “We are in constant dialogue with our suppliers and with their extended supply chain in the region. Nokia’s supply chain management system is designed to mitigate operational disruptions by using alternative sources for components and production processes. In an effort to minimize the impact, Nokia will continue working with suppliers inside and outside of Japan.”

Nokia will continue to monitor the situation and will provide more detailed information during its next quarterly results announcement on April 21, 2011 at the latest.

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Nokia is committed to connecting people to what matters to them by combining advanced mobile technology with personalized services. More than 1.3 billion people connect to one another with a Nokia, from our most affordable voice-optimized mobile phones to advanced Internet-connected smartphones sold in virtually every market in the world. Through Ovi (www.ovi.com), people also enjoy access to maps and navigation on mobile, a rapidly expanding applications store, a growing catalog of digital music, free email and more. Nokia’s NAVTEQ is a leader in comprehensive digital mapping and navigation services, and Nokia Siemens Networks is one of the leading providers of telecommunications infrastructure hardware, software and professional services globally.