and uncertainties that could cause these differences include, but are 
not limited to: 1) our strategy is subject to various risks and 
uncertainties and we may be unable to successfully implement our 
strategic plans, sustain or improve the operational and financial 
performance of our business groups, correctly identify or successfully 
pursue business opportunities or otherwise grow our business; 2) general 
economic and market conditions, general public health conditions 
(including its impact on our supply chains) and other developments in 
the economies where we operate, including the timeline for the 
deployment of 5G and our ability to successfully capitalize on that 
deployment; 3) competition and our ability to effectively and profitably 
invest in existing and new high-quality products, services, upgrades and 
technologies and bring them to market in a timely manner; 4) our 
dependence on the development of the industries in which we operate, 
including the cyclicality and variability of the information technology 
and telecommunications industries and our own R&D capabilities and 
investments; 5) our dependence on a limited number of customers and 
large multi-year agreements, as well as external events impacting our 
customers including mergers and acquisitions and the possibility of our 
customers awarding business to our competitors; 6) our ability to 
maintain our existing sources of intellectual property-related revenue 
through our intellectual property, including through licensing, 
establishing new sources of revenue and protecting our intellectual 
property from infringement; 7) our ability to manage and improve our 
financial and operating performance, cost savings, competitiveness and 
synergies generally, expectations and timing around our ability to 
recognize any net sales and our ability to implement changes to our 
organizational and operational structure efficiently; 8) our global 
business and 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; 9) our ability to achieve the anticipated benefits, synergies, 
cost savings and efficiencies of acquisitions; 10) exchange rate 
fluctuations, as well as hedging activities; 11) our ability to 
successfully realize the expectations, plans or benefits related to any 
future collaboration or business collaboration agreements and patent 
license agreements or arbitration awards, including income to be 
received under any collaboration, partnership, agreement or arbitration 
award; 12) Nokia Technologies' ability to protect its IPR and to 
maintain and establish new sources of patent, brand and technology 
licensing income and IPR-related revenues, particularly in the 
smartphone market, which may not materialize as planned, 13) 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; 14) 
our exposure to direct and indirect regulation, including economic or 
trade policies, and the reliability of our governance, internal controls 
and compliance processes to prevent regulatory penalties in our business 
or in our joint ventures; 15) our reliance on third-party solutions for 
data storage and service distribution, which expose us to risks relating 
to security, regulation and cybersecurity breaches; 16) inefficiencies, 
breaches, malfunctions or disruptions of information technology systems, 
or our customers' security concerns; 17) our exposure to various legal 
frameworks regulating corruption, fraud, trade policies, and other risk 
areas, and the possibility of proceedings or investigations that result 
in fines, penalties or sanctions; 18) adverse developments with respect 
to customer financing or extended payment terms we provide to customers; 
19) the potential complex tax issues, tax disputes and tax obligations 
we may face in various jurisdictions, including the risk of obligations 
to pay additional taxes; 20) our actual or anticipated performance, 
among other factors, which could reduce our ability to utilize deferred 
tax assets; 21) our ability to retain, motivate, develop and recruit 
appropriately skilled employees; 22) disruptions to our manufacturing, 
service creation, delivery, logistics and supply chain processes, and 
the risks related to our production sites; 23) the impact of litigation, 
arbitration, agreement-related disputes or product liability allegations 
associated with our business; 24) our ability to re-establish investment 
grade rating or maintain our credit ratings; 25) our ability to achieve 
targeted benefits from, or successfully implement planned transactions, 
as well as the liabilities related thereto; 26) our involvement in joint 
ventures and jointly-managed companies; 27) the carrying amount of our 
goodwill may not be recoverable; 28) uncertainty related to the amount 
of dividends and equity return (if any) we are able to distribute to 
shareholders for each financial period; 29) pension costs, employee 
fund-related costs, and healthcare costs; 30) our ability to 
successfully complete and capitalize on our order backlogs and continue 
converting our sales pipeline into net sales; 31) risks related to 
undersea infrastructure; and 32) the scope and duration of the COVID-19 
impact on the global economy and financial markets as well as our 
customers, supply chain, product development, service delivery, other 
operations and our financial, tax, pension and other assets, and the 
shape of the economic recovery following the pandemic as well as the 
risk factors specified in our 2019 annual report on Form 20-F published 
on March 5, 2020 under "Operating and financial review and 
prospects-Risk factors" as supplemented by the form 6-K published on 
April 30, 2020 under the header "Risk Factors" and in our other filings 
or documents furnished 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.

(END) Dow Jones Newswires

02-18-21 0215ET