MIRA INFORM REPORT
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Report Date : |
17.01.2007 |
IDENTIFICATION DETAILS
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Name : |
NOKIA
INDIA PRIVATE LIMITED |
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Registered Office : |
4th
Floor, |
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Country: |
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Financials (as on): |
31.03.2005 |
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Date of Incorporation : |
23.05.1995 |
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CIN No.: [Company Identification No.] |
U74899DL1995PTC068904 |
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Com. Reg. No.: |
55-68904 |
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TAN No.: [Tax Deduction & Collection Account No.] |
DELN05529G DELN06295C |
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PAN No.: [Permanent Account No.] |
AAACN2170R |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Mobile
Phone, Multimedia, |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
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Maximum Credit Limit : |
USD 3000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company and part of worldwide Nokia Group. Available
information indicates high financial responsibility of the company. Trade relations
are fair. Fundamentals are strong and healthy. The
company can be considered good for any normal business dealings. It can be
regarded as a promising business partner in medium to long run. |
LOCATIONS
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Registered Office : |
4th
Floor, |
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Tel. No.: |
91-11-26784100 |
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Fax No.: |
91-11-26779149
/ 52227420 |
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E-Mail : |
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Website : |
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Location : |
Commercial |
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Nokia Networks: |
701,
Nokia
3F. 573 Dealing Chambers, JM Road, MAHARASTRA, 411004,
INDIA INPUN01, 00002952, 2951 PUNE city Nokia
Telecom, |
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Regional Head Office: |
Nokia Nokia Asia-Pacific Mobile Phones, Networks, Nokia Nokia
Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia Nokia
Nokia Nokia Nokia Nokia Nokia Nokia Nokia Location: Nokia Nokia |
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Branches : |
Nokia
Internet Communications, SDE Serence Chambers 802-334,
Road No. 7, Banjara Hills, Tel:
91-40-23550612, 23550613, 23540734, 23540745, 23540735 Fax
: 91-40-23540736, 23551795 Banglore 88
Brigade Chambrers, Gandhi Bazar, Basavangudi, Banglore-560004 Tel
No.: 91-80-26626692, 26626694, 26626693, Fax
No: 91-40-23540736, 23551795 Ahmedabad 209/210,
Sakar III, Ellisbridge, Ahmedabad 380006 Mumbai Garden
Court Complex, gala 9 & 10, Block 16 Patilputra,
Tel
No.: 91-22-26363249, 27781830 Fax
No: 91-22-27876699 |
DIRECTORS
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Name : |
Mr.
Sanjeev Sharma |
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Designation : |
Managing
Director |
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Address: |
C-63,
2nd Floor, Defence Colony, |
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Date of Birth/Age : |
9/9/1961 |
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Date of Appointment : |
29/03/2002 |
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Name : |
Mr.
C Suresh Wadhwani |
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Designation : |
Whole
Time Director |
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Address: |
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Date of Birth/Age : |
11/4/1961 |
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Date of Appointment : |
6/12/1995 |
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Name : |
Mr.
Ambrish Bakaya |
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Designation : |
While
Time Director |
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Address: |
G-2,
1st Floor, kailash Colony, |
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Date of Birth/Age : |
2/3/1961 |
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Date of Appointment : |
22/9/1997 |
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Name : |
Mr.
Ashish Chowdhary |
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Designation : |
Director |
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Address: |
D
–1/ 15, 2nd Floor, Vasant Vihar, |
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Date of Birth/Age : |
29/07/1965 |
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Date of Appointment : |
2/7/2004 |
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Name : |
Mr.
P Subba Rao |
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Designation : |
Director |
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Address: |
B
3/ F 1, Opposite Seeshmahal, Ameerpet Colony, |
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Date of Birth/Age : |
29/07/1965 |
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Date of Appointment : |
2/7/2004 |
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Name : |
Mr.
Bathina Nath Sridhar |
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Designation : |
Director |
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Address: |
72
Whisper Valley, Banjara Hills, |
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Date of Birth/Age : |
01.07.1957 |
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Date of Appointment : |
25.03.2002 |
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Name : |
Mr.
Lehtela J Johannes |
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Designation : |
Director |
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Address: |
Flat
C – 1,Mill Bank No. 4, Boatclvrrd
3AVE, Chennai – 600 028, Tamilnadu. |
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Date of Birth/Age : |
28.12.1958 |
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Date of Appointment : |
01.07.2005 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Nokia Corporation |
35579299 |
100 % |
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Nokia |
1 |
-- |
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TOTAL |
35579300 |
100 % |
BUSINESS DETAILS
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Line of Business : |
Mobile
Phone, Multimedia, |
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Products: |
Software
Telecommunication |
GENERAL INFORMATION
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Auditors : |
M/s
Lovelock and Lewes Chartered
Accountants |
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Holding Company: |
Nokia
Corporation, |
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Subsidiaries company: |
v v Nokia (Hongkong ) Limited v Nokia ( v Nokia Inc. v Nokia TMC Limited - v Nokia UK Limited v Nokia Australia Pty Limited v Nokia v Israel Communication Limited, v Nokia Italia S.P. A. Italy v Nokia Japan Company Limited, v Nokia Pte Limited, v Nokia Kounikasyon Limited, Sti v Nokia Taiwan Company Limited , v Nokia Devenezuela C A v Nokia v Nokia ( v Nokia v Nokia v Nokia v Nokia ( v Nokia |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3600000 |
Equity
Shares |
Rs. 10/- each |
Rs. 360.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35579300 |
Equity
Shares |
Rs. 10/- each |
Rs. 355.793 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 (15 Month) |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
355.793 |
355.793 |
355.793 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1458.297 |
881.474 |
381.178 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
1814.090 |
1237.267 |
736.971 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
250.000 |
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TOTAL
BORROWING
|
0.000 |
0.000 |
250.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL
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1814.090 |
1237.267 |
986.971 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
231.575 |
72.447 |
94.296 |
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Capital work-in-progress
|
35.509 |
7.228 |
0.000 |
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INVESTMENT
|
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS
|
139.620 |
17.466 |
15.643 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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3187.713
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1347.370 |
389.652 |
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Sundry Debtors
|
10423.446
|
2576.983 |
1089.547 |
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Cash & Bank Balances
|
3256.976
|
1737.039 |
688.427 |
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Other Current Assets
|
12.209
|
0.572 |
3.435 |
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Loans & Advances
|
1396.673
|
663.337 |
414.956 |
Total Current Assets
|
18277.017
|
6325.101 |
2586.017 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
|
15197.348
|
4358.100 |
1361.953 |
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Provisions
|
1672.283
|
826.878 |
347.032 |
Total Current Liabilities
|
16869.631
|
5184.978 |
1708.985 |
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Net Current
Assets
|
1407.386
|
1140.126 |
877.032 |
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
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TOTAL
|
1814.090 |
1237.267 |
986.972 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 (15 Month) |
Sales Turnover [including other income]
|
57521.765 |
25738.834 |
9486.064 |
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Profit/(Loss) Before Tax
|
911.085 |
797.109 |
791.577 |
Provision for Taxation
|
344.262 |
296.814 |
301.899 |
Profit/(Loss) After Tax
|
576.823 |
500.295 |
489.678 |
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Import Value
|
NA |
NA |
7075.043 |
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Total Expenditure
|
56610.699 |
24581.725 |
8573.258 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 (15 Month) |
PAT / Total Income
|
(%)
|
1.00
|
1.94 |
5.16 |
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Net Profit Margin
(PBT/Sales) |
(%) |
1.58
|
3.10 |
8.41 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
4.92
|
12.41 |
29.36 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.50
|
0.64 |
1.07 |
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Debt Equity Ratio
(Total Liability/Networth) |
|
9.30
|
4.19 |
2.66 |
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|
Current Ratio
(Current Asset/Current
Liability) |
|
1.08
|
1.22 |
1.51 |
6422.242
LOCAL AGENCY FURTHER INFORMATION
Performance of the
Company:
The operational performance
of the company during the year ended 31.03.2005 was quite encouraging with
increasing in revenue and profits. All the division of the company have also
contribute to the revenue substantially. The performance of the company was
buoyant. The R & D division has achieved success by introducing various new
systems, which had enable the company to improve the product mix substantially
to cater to the new markets. The substantial growth in the revenue of the
company could be possible because of the drive and dedicated efforts of the
management. The company has recently
introduced the costliest handset which was well accepted by the market.
Future Prospects:
The prospects of the company are very bright in the coming years. The
company has taken a lead in establishing its place in CDMA market. in GSM
market the company is far ahead of the competitors. New models, which were
introduced in the market, were all
accepted and the company is confident in
introducing new models, which meet the requirements of the market. The
company is in the final stage of commissioning a manufacturing plant in the SEZ
of chennai, which will enable the company to have a higher penetration in the
markets.
Incorporated on May 23, 1995 the subject is engaged in the business of
Manufactures and Suppliers of Mobile Phone, Multimedia, Enterprise Solutions
and Networks
A world leader in mobile communications, Nokia has established itself as
the leading preferred brand in many markets where it is present in Asia Pacific
Located at
Alexandra Technopark in
With effect from January 1, 2004 Nokia
reorganized its structure in a move to further align the company’s overall
structure with its strategy. The company includes four business groups:
Mobile Phone
Multimedia
Network
Nokia also includes two horizontal
groups that support the mobile device business groups : customers and Market
Operations and Technology Platforms.
Press Clippings
In April 2005,
Nokia
Besides, Nokia was the market leader in mobile communication devices in
In 2004, Nokia was chosen as 'the most respected consumer durables company' by
Businessworld . The magazine wrote, "This Finnish company's debut at the
top of the heap says two things. One, that its strategies - including ones like
developing a phone specifically for
Nokia is a
world leader in mobile communications, driving the growth and sustainability of
the broader mobility industry. Nokia connects people to each other and the information
that matters to them with easy-to-use and innovative products like mobile
phones, devices and solutions for imaging, games, media and businesses. Nokia
provides equipment, solutions and services for network operators and
corporations. Nokia is a broadly held company with listings on four major
exchanges.
Nokia comprises four business groups and two horizontal groups.
Nokia Q4 2005 Results
Net sales of EUR 10 333 million
Net profit of EUR 1 073 million
EPS of EUR 0.25
Nokia News: In Focus
Learn more about digital convergence,
Nokia's new mobile TV phone, and the See New photo competition in the latest
edition 
Group Executive Board
Find out more about the Chairman and
the members of the
Corporate
Responsibility
As a global company and market leader,
Nokia takes its responsibilities towards society and the environment seriously.
Find out how in
Digital convergence - the coming together of the telecommunications,
broadcasting, imaging, and music industries - was the theme of the 10th annual
Nokia Mobility Conference. More than 2,000 delegates were at this year's event
to hear Nokia lay out its vision of the converging digital industry and witness
the unveiling of some striking new products.
Featured Articles
Products
Nokia's range of products is growing continuously.
Keep up on the highlights of what's new in mobile phones, multimedia devices,
enterprise solutions, and networks.
Making
TV Mobile
Technology
Innovations that could change the life,
or just the way you
live it.
Making
Mobiles Accessible
Wi-Fi
Sidles Up to Cellular
Community
This section
looks at how Nokia helps make connections between people in local and global
communities by focusing on human issues.
Encouraging
Stakeholder Dialogue
Environment
Nokia is committed to responsible
business and making sure their overall impact is positive. Read about their ongoing
environmental endeavors.
Nokia’s
Life-cycle Thinking
Perspectives
Get a new view on industry developments
and Nokia's role in telecommunications with these general interest stories,
opinion pieces, and glimpses into Nokia's strategy.
Opportunity
at the Crossroads
Year
2005
Nokia
announced world's first commercial solution for managing DVB-H broadcast
services.
The Nokia 6630 imaging smartphone has as the first device in the world achieved
global GCF 3G WDCMA Certification. The certification was achieved based on the
requirements defined by Global Certification Forum (GCF), an independent
industry body which provides network compliancy requirements and testing for
GSM/WCDMA mobile devices.
SBS Finland's Kiss FM became the first radio station in the world to begin
Visual Radio broadcasts. This unique new concept developed by Nokia offers the
listeners the possibility to give feedback and to participate in programs
easier than ever before.
Nokia introduced a new product for secure mobile contactless payments
and ticketing. The world's first Near Field Communications (NFC) product for
payment and ticketing will be an enhanced version of the already announced
Nokia NFC shell for Nokia 3220 phone.
Year
2004
Using Nokia's CDMA Dual-Stack handset, Nokia demonstrated the industry's
first Mobile IPv6 call at the 3G World Congress Convention and Exhibition in
November. The demonstration highlighted real-time streaming video with seamless
handoff between two CDMA access networks using Mobile IPv6.
Nokia announced the Nokia NFC (Near Field Communication) shell, the
latest step in the development of innovative products for mobile
communications, in November. With the Nokia NFC shell on their phone, consumers
will be able to easily access a variety of services and conveniently exchange
information with a simple touch gesture utilizing NFC technology.
In October, Nokia and TeliaSonera
Achieving a first for the Asia-Pacific region, Nokia, MediaCorp
Technologies, M1 and the Media Development Authority of Singapore jointly
showcased a live end-to-end mobile phone TV broadcast over a DVB-H (Digital
Video Broadcast - Handheld) network at the Nokia Connection event in
Nokia and Texas Instruments Incorporated introduced the first
pre-integrated and validated S60 Reference Implementation based on TI's
OMAP(TM) processor-powered reference design in February. The Reference
Implementation is available immediately to S60 licensees
The roots of Nokia go back to the year 1865 with the establishment of a
forest industry enterprise in South-Western Finland by mining engineer Fredrik
Idestam. Elsewhere, the year 1898 witnessed the foundation of Finnish Rubber
Works Limited, and in 1912 Finnish Cable Works began operations. Gradually, the
ownership of these two companies and Nokia began to shift into hands of just a
few owners. Finally in 1967 the three companies were merged to form Nokia
Corporation.
At the beginning of the 1980s, Nokia strengthened its position in the
telecommunications and consumer electronics markets through the acquisitions of
Mobira, Salora, Televa and Luxor of Sweden. In 1987, Nokia acquired the
consumer electronics operations and part of the component business of the
German Standard Elektrik Lorenz, as well as the French consumer electronics
company Oceanic. In 1987, Nokia also purchased the Swiss cable machinery
company Maillefer.
In the late 1980s, Nokia became the largest Scandinavian information
technology company through the acquisition of Ericsson's data systems division.
In 1989, Nokia conducted a significant expansion of its cable industry into
Continental Europe by acquiring the Dutch cable company NKF.
Since the beginning of the 1990's, Nokia has concentrated on its core
business, telecommunications, by divesting its information technology and basic
industry operations.
See the "Brief
history of mobile phones" video in
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view the content, you need to have RealPlayer® installed on the computer.
In order to
play Windows Media-formatted content, you need to have Windows Media Player
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April 2005
The Annual General Meeting of Nokia Corporation held on April 7, 2005 confirmed
the number of Board members to be ten. The following members of the Board were
elected or re-elected for the period ending at the close of the next Annual
General Meeting: Paul J. Collins, Georg Ehrnrooth, Daniel R. Hesse, Bengt
Holmström, Per Karlsson, Edouard Michelin, Jorma Ollila, Marjorie Scardino,
Vesa Vainio and Arne Wessberg.
In its assembly meeting on April 7, 2005, Nokia's Board of Directors re-elected
CEO Jorma Ollila to chair the Board. Paul J. Collins was re-elected Vice
Chairman of the Board.
Chairman
Jorma Ollila
Vice Chairman
Paul J. Collins
Georg Ehrnrooth
Daniel R. Hesse
Dr. Bengt Holmström
Per Karlsson
Edouard Michelin
Dame Marjorie Scardino
Vesa Vainio
Arne Wessberg
The operations
of the company are managed under the direction of the Board of Directors,
within the framework set by the Finnish Companies Act and their articles of
association and the complementary Corporate Governance Guidelines and related
charters as adopted by the Board.
The responsibilities of the Board of Directors
The Board of Directors represents and is accountable to the shareholders of the
company. The Board's responsibilities are active and not passive and include
the responsibility to regularly evaluate the strategic direction of the
company, management policies and the effectiveness with which management
implements its policies. The Board's responsibilities further include
overseeing the structure and composition of the company's top management and
monitoring legal compliance and the management of risks related to the
company's operations. In doing so the Board may set out annual ranges and/or
individual limits for capital expenditures, investments and divestitures and
financial commitments not to be exceeded without Board approval.
The Board has the responsibility for appointing and discharging the Chief
Executive Officer and the President and the other members of the Group
Executive Board. Subject to the requirements of Finnish law, the independent
directors of the Board will confirm the compensation and the employment
conditions of the Chief Executive Officer and the President upon the
recommendation of the Personnel Committee. The compensation and employment
conditions of the other members of the Group Executive Board are approved by
the Personnel Committee.
The basic responsibility of the members of the Board is to act in good faith
and with due care so as to exercise their business judgment on an informed
basis in what they reasonably and honestly believe to be the best interests of
the company and its shareholders. In discharging that obligation, the directors
must inform themselves of all relevant information reasonably available to
them.
Election, composition and meetings of the Board of
Directors
Pursuant to the articles of association, Nokia Corporation has a Board of
Directors composed of a minimum of seven and a maximum of ten members. The
members of the Board are elected for a term of one year at each Annual General
Meeting, which convenes each March or April. Since the Annual General Meeting
held on April 7, 2005, the Board has consisted of ten members. Nokia's CEO, Mr.
Jorma Ollila, also serves as the Chairman of the Board. The other members of
the Board are all non-executive and independent as defined in the Finnish rules
and regulations. The Board convened nine times during 2004, three of the
meetings were held in the form of a conference call, and the average ratio of
attendance at the meetings was 100%. The non-executive directors meet without
executive directors twice a year, or more often as they deem appropriate. Such
sessions are presided over by the Vice Chairman of the Board or, in his
absence, the most senior non-executive member of the Board. In addition, the
independent directors meet separately at least annually. The Board and each
committee also has the power to hire independent legal, financial or other
advisors as it deems necessary.
The Board elects a Chairman and a Vice Chairman from among its members for one
term at a time. On April 7, 2005 the Board resolved that Mr. Jorma Ollila
should continue to act as Chairman and that Mr. Paul J. Collins should continue
to act as Vice Chairman. The Board also appoints the members and the chairmen
for its committees from among its non-executive, independent members for one
term at a time.
Under Finnish law, if the roles of the Chairman and the Chief Executive Officer
are combined, the company must have a President. The responsibilities of the
President are defined in the Finnish Companies Act and other relevant
legislation along with any additional guidance and instructions given from time
to time by the Board and the Chief Executive Officer. The responsibilities of
the Chief Executive Officer are determined by the Board.
The Board and each of its committees conducts annual performance
self-evaluations, the results of which are discussed in the committees,
respectively, and in the full Board. The Corporate Governance Guidelines
concerning the directors' responsibilities, the composition and selection of
the Board, Board committees and certain other matters relating to corporate
governance are available through the following link
Audit
Committee
The Audit Committee consists of a minimum of three members of the Board, who
meet all applicable independence, financial literacy and other requirements of
Finnish law and the rules of the stock exchanges where Nokia shares are listed,
including the Helsinki Exchanges and the New York Stock Exchange. Since April
7, 2005, the Committee has consisted of the following four members of the
Board: Messrs. Per Karlsson (Chairman), Georg Ehrnrooth, Vesa Vainio and Arne
Wessberg.
The Audit Committee is established by the Board primarily for the purpose of
overseeing the accounting and financial reporting processes of the company and
audits of the financial statements of the company. The Committee is responsible
for assisting the Board's oversight of (1) the quality and integrity of the
company's financial statements and related disclosure, (2) the external auditor's
qualifications and independence, (3) the performance of the external auditor
subject to the requirements of Finnish law, (4) the performance of the
company's internal controls and risk management and assurance function, and (5)
the company's compliance with legal and regulatory requirements. The Committee
also maintains procedures for the receipt, retention and treatment of
complaints received by the company regarding accounting, internal controls, or
auditing matters and for the confidential, anonymous submission by employees of
the company of concerns regarding accounting or auditing matters.
Under Finnish law, their external auditor is elected by their shareholders at
the Annual General Meeting. The Committee makes a recommendation to the
shareholders in respect of the appointment of the external auditor based upon
its evaluation of the qualifications and independence of the auditor to be
proposed for election or re-election. The Committee meets at least four times
per year based upon a schedule established at the first meeting following the
appointment of the Committee. The Committee meets separately with the
representatives of the management and the external auditor at least twice a
year. The Audit Committee convened three regular meetings and one extended
regular meeting in 2004.
Personnel Committee
The Personnel Committee consists of a minimum of three members of the Board,
who meet all applicable independence requirements of Finnish law and the rules
of the stock exchanges where Nokia shares are listed, including the Helsinki
Exchanges and the New York Stock Exchange. Since April 7, 2005, the Personnel
Committee has consisted of the following four members of the Board: Mr. Paul J.
Collins (Chairman), Mr. Daniel R. Hesse, Dame Marjorie Scardino and Mr. Vesa
Vainio.
The primary purpose of the Personnel Committee is to oversee the personnel
policies and practices of the company. It assists the Board in discharging its
responsibilities relating to all compensation, including equity compensation,
of the company's executives and the terms of employment of the same. The
Committee has overall responsibility for evaluating, resolving and making
recommendations to the Board regarding (1) compensation of the company's top
executives and their employment conditions, (2) all equity-based plans, (3)
incentive compensation plans, policies and programs of the company affecting
executives, and (4) other significant incentive plans. The Committee is
responsible for ensuring that the above compensation programs are
performance-based, properly motivate management, support overall corporate
strategies and align with shareholders' interests. The Committee is responsible
for the review of senior management development and succession plans. The
Personnel Committee convened three times in 2004.
Corporate Governance and Nomination Committee
The Corporate Governance and Nomination Committee consists of three to five
members of the Board, who meet all applicable independence requirements of
Finnish law and the rules of the stock exchanges where Nokia shares are listed,
including the Helsinki Exchanges and the New York Stock Exchange. Since April
7, 2005, the Corporate Governance and Nomination Committee has consisted of the
following three members of the Board: Dame Marjorie Scardino (Chairman), Mr.
Paul J. Collins and Mr. Vesa Vainio.
Te Corporate Governance and Nomination Committee's purpose is (1) to prepare
the proposals for the general meetings in respect of the composition of the
Board along with the director remuneration to be approved by the shareholders,
and (2) to monitor issues and practices related to corporate governance and to
propose necessary actions in respect thereof.
The Committee fulfills its responsibilities by (i) actively identifying
individuals qualified to become members of the Board, (ii) recommending to the
shareholders the director nominees for election at the Annual General Meetings,
(iii) monitoring significant developments in the law and practice of corporate
governance and of the duties and responsibilities of directors of public
companies, (iv) assisting the Board and each committee of the Board in its
annual performance self-evaluation, including establishing criteria to be used
in connection with such evaluation, and (v) developing and recommending to the
Board and administering the Corporate Governance Guidelines of the company. The
Corporate Governance and Nomination Committee convened five times in 2004.
The charters of each of the committees are available through the following
link: Board Charters and Company Codes
JOINT VENTURE
Nokia has
entered into several joint ventures over time, particularly in the areas of
manufacturing and research and development. Regional joint ventures have proven
to be an effective way to combine Nokia's global technology leadership with
strong local partners to accomplish faster and higher market penetration in new
and emerging markets.
Meridea
Financial Software
- Established 2001
- New company founded by 3i, Accenture, Nokia and
Sampo for producing and marketing of software for mobile and online financial
services
Nokia
(
- Established 2001
- Established in 1998 as soly-owned foreign company, became Joint
Venture in 2001
- Production of GSM base station and cellular transmission product
- Partner Shanghai Alliance Investment Limited
Hangzhou R&D center, China
- Established 2001
- MoU between Nokia Networks and the Zhejiang Provincial Government
of China signed on November 22, 2001
- Software development, platform technology development related to
Nokia's 3G networks
- Start of operatioins at the beginning of 2002
- To start cooperation with a local partner in 2003
- Nice-business Solutions
- Established 2000
- Joint venture between ICL and Nokia focusing on
developing solutions and services for Nokia's e-business and customer
relationship management (CRM) needs
Nokia Neu Comm Tech Company Limited,
- Established 2000
- Software products research and development
- Partner NEU-ALPINE Software Holding Co. Limited
Nokia Citic
Digital Technology Co. (
- Established 1999
- Development, manufacturing and marketing of digital multimedia
terminals
- Partners CITIC Technology Co. Limited and the Academy of
Broadcasting Science
Symbian
Limited,
- Established 1998
- Symbian supplies an advanced, open, standard operating system for
mobile phones. Symbian OS is used in the Nokia 9200 Communicators, the
Nokia 7650 and Nokia 3650 as well as in the recently announced announced
Nokia N-Gage. Symbian OS is used in the S60 platform.
- The shareholders are Nokia, Psion, Motorola, Samsung, Siemens, Sony
Ericsson, Ericsson and Panasonic.
- For more information, visit www.symbian.com.
ChongQing
Nokia Telecommunications Co. Limited,
- Established 1998
- Provision of a full range of services, manufacture and supply of
products for fixed networks
- Partners
Fujian Nokia
Mobile Telecommunications Limited,
- Established 1997
- Main activities in the field of GSM 900/1800 technical services,
primarily network planning and optimization
- Partner
Nemo
Technologies Limited,
- Established 1996
- Development and production of cellular radio network measurement
and optimization tools
- Partner
Dongguan Nokia
Mobile Phones Co., Limited,
- Established 1995
- Production of mobile phones and accessories
- Partner Dongguan Nan Xin Industrial Development Co., Limited
Beijing Capitel
Nokia Mobile Telecommunications Co., Limited,
- Established 1995
- Production of GSM digital cellular systems and mobile phones
- Partner Beijing Capitel Co., Limited
Beijing Nokia
Hangxing Telecommunications Systems Co., Limited,
- Established 1995
- Production of mobile digital switches, base station controllers and
fixed digital switches
- Partner Beijing Hangxing Machinery Manufacturing Corporation
Sapura-Nokia
Telecommunications Sdn
- Established 1992
- Implementation of a DX 200 digital switching system project
- Partner Sapura Holdings
Nokia
devotes substantial time and resources to creating standards and specifications for the communications
industry. They promote open standards that match their customers' needs. Below
you can find brief descriptions of those cooperation forums as well as standard
and specification making and promoting bodies in which Nokia sees specific
interest and opportunity, and also where their participation is most active.
MEMBERSHIP
3GPP: The Third Generation
Partnership Project (3GPP) is a global body dedicated to developing 3G
specifications. 3GPP is an initiative of standards organizations from Europe,
3GPP2: 3GPP2 is an
initiative of standardization organizations from the
Association of Radio
Industries and Business: ARIB was designated as "the Center for Promotion of
Efficient Use of Radio Spectrum" and "the Designated Frequency Change
Support Agency" by the Japanese Ministry of Internal Affairs and
Communications (MIC) under the provisions of the Japanese Radio Law. ARIB
conducts studies and R&D, establishes standards, provides consultation
services for radio spectrum coordination, cooperates with other overseas
organizations and provides frequency change support services for the smooth
introduction of digital terrestrial television broadcasting. These activities
are conducted in cooperation with and/or with participation by
telecommunication operators, broadcasters, radio equipment manufacturers and
related organizations as well as under the support by MIC.
Bluetooth SIG is a trade association
that is driving the development of a short-range wireless specification for
connecting digital devices. Nokia is one of the nine promoter companies of
Bluetooth SIG with 3Com, Ericsson, IBM, Intel, Lucent, Microsoft, Motorola and
Toshiba. In addition Bluetooth SIG has a about two thousand Associate and
Adopter members worldwide.
The CE-ATA Working Group: CE-ATA was
launched in September 2004 to develop a storage interface tailored to the needs
of small form factor disk drives in portable consumer electronics applications.
The benefits of CE-ATA are many. From an industry perspective, small form
factor disk drive suppliers can take advantage of a storage interface tailored
to the needs of such devices, resulting in highly optimized disk drive designs.
Host silicon providers and product integrators will also benefit from the
improved integration that the tailored interface affords due to its low pin
count, favorable voltages and efficient protocol. For consumers, a disk drive
interface tailored to the needs of the handheld and portable consumer market
segments could spur storage use in innovative new products and lead to products
with a more efficient storage solution.
CELF: The CE Linux
Forum is an industry group that is focused on the advancement of Linux as an
open source platform for consumer electronics devices. CELF was established in
July 2003 by Matsushita, Sony,
Communications and
Information network Association of Japan: With the cooperation of member companies,
CIAJ is committed to the healthy development of info-communication network
industries through the promotion of info-communication technologies, and
contributes to the realization of more enriched lives in
Digital Living Network
DVB: The Digital
Video Broadcasting Project (DVB) is an industry-led consortium of over 300
broadcasters, manufacturers, network operators, software developers,
regulators, and other bodies in over 35 countries committed to designing global
standards for the delivery of digital television and data services. Nokia
focuses on the development of the DVB standard in areas related to digital TV
set top boxes and mobile datacast services.
ETSI: The European
Telecommunications Standards Institute unites 900 members from five continents.
ETSI members actively participate in 3GPP, and the organization also provides
secretarial support (Mobile Competence Center MCC) for 3GPP. Since 2003 ETSI
has also provided secretarial support and forum hosting service for Open Mobile
Alliance (OMA). Nokia's other focus areas in ETSI include Broadband Radio
Access Networks (BRAN), a body developing standards for wireless local area
networks (LANs) and point-to-multipoint radio links, TErrestrial Trunked Radio
(TETRA), and ETSI's Joint Technical Committee BROADCAST with the European
Broadcasting Union (EBU).
GSA: The Global
mobile Suppliers Association (GSA) has been established to ensure that the
GSM/3G supplier industry is better informed for decision-making, and that it's
views and requirements are adequately represented and accepted by influencers
and decision makers, particularly in areas affecting investment and business
growth opportunities, on a global scale. GSA is the representative body for the
GSM/3G supplier industry. It is an organisation created to meet suppliers'
needs and already represents over 80% of GSM/3G market share globally.
Membership is open to all suppliers of GSM/3G systems and services, from across
the entire supply chain.
IEEE: Institute of
Electrical and Electronics Engineers is a technical professional association of
more than 377,000 individual members in 150 countries. IEEE is active in
technical publishing, conferences and standardization, covering areas from
computer engineering, biomedical technology, and telecommunications to electric
power, aerospace, and consumer electronics. IEEE Standards Association, amongst
others, develops the 802.x local and metropolitan area wired and wireless
standards. Nokia also sponsors an annual Internet Award through the IEEE
Foundation. The award is given for exceptional contributions to the advancement
of Internet technology for network architecture, mobility, and end-user
applications.
Internet Engineering Task
Force: IETF is
an open community of network designers, operators, vendors, and researchers
concerned with the evolution of the Internet architecture and the smooth
operation of the Internet. Its main task is the standardization of the core
protocols of the Internet, including IPv4, IPv6, IPSec, Mobile IP, IP routing,
MPLS, DNS, TCP, TLS, SNMP and DIAMETER. The IETF also standardizes some key
Internet application protocols such as SIP, RTP, HTTP and SMTP, which are the
foundation for services like VoIP, WWW and e-mail. As the Internet technology
has become widely adopted, IETF protocols also form the basis for the work of many
other standardization organizations, such as OMA, 3GPP, 3GPP2 and W3C. Nokia
has a strong and active presence in the IETF.
IPDC: The Internet
Protocol (IP) Datacast Forum is an international non-profit industry
association founded in 2001 by Nokia, Crown Castle International, Deutsche
Telekom, Digita, NTL Broadcast, Philips, Retevision, SkyStream Networks,
Teracom, and The Fantastic Corporation. The Forum facilitates the growth of
IP-based multimedia services for deployment over broadband networks, including
DVB (Digital Video Broadcasting) and DAB (Digital Audio Broadcasting). Nokia
promotes the development and the launch of IP-based datacast services over
DVB-T (Digital Video Broadcast, Terrestrial) networks.
ITU: International
Telecommunication Union, part of United Nations system of international
organizations, is where governments and the private sector coordinate telecom
networks and services globally. ITU consists of Radiocommunication Sector
(ITU-R), Telecommunication Sector (ITU-T) and Development Sector (ITU-D). Nokia
is a member in all sectors and believes that ITU-R has an essential role in
global radio spectrum management.
JCP: Java Community
Process is a framework under which the international Java Community develops
and maintains Java technology specifications, such as the language, virtual
machine, and different application programming interfaces. JCP forms a de facto
standardization process for Java related specifications.
Khronos Group: Khronos is a
member-funded industry consortium focused on the creation of open standard,
royalty-free APIs to enable the authoring and playback of dynamic media on a
wide variety of platforms and devices.
Liberty Alliance project was
formed to deliver and support a federated network identity solution for the
Internet enabling single sign-on for consumers as well as business users.
Founding members of Liberty Alliance are Nokia, American Express, America
Online, France Telecom, GM, HP, Mastercard, NTT DoCoMo, RSA Security, Sony, SUN
Microsystems, and Vodafone. In a federated view of the world, a person's online
identity, their personal profile, personalized online configurations, buying
habits, and history, and shopping preferences are administered by users, yet
securely shared with the organizations they choose. The role of the Liberty
Alliance project is to support the development, deployment, and evolution of an
open, interoperable specification for a federated network identity.
MeT:
Mobile IT forum: The mITF was
established in
MultiMediaCard Association: The MMCA is the
open standard memory card organization, promoting worldwide adoption of a
postage-stamp size, removable storage card designed especially for mobile
phones and digital imaging. Founded in 1998 with 14 companies, the MMCA has
grown rapidly and now has 190+ members worldwide (as of February 2005),
representing all branches of mobile electronic applications, including
semiconductor suppliers, software vendors and manufacturers of low power
devices for storing and retrieving digital information.
Mobile Manufacturers Forum: The MMF is an
international association of radio equipment manufacturers. The MMF was formed
in 1998 to jointly fund key research projects, as well as to cooperate on
standards, regulatory issues and communications activities concerning health
and mobile phones. The goal of the MMF in research is to promote the highest
quality independent research that provides relevant data to develop sound
public policy.
Network Processing Forum: The NPF was
organized to facilitate and accelerate the development of next-generation
networking and telecommunications products based on network processing
technologies. By establishing common specifications, the NPF enables equipment
manufacturers to significantly reduce their design burden, while having the
flexibility to use the best components to fit their requirements.
Open Base Station
Architecture Initiative: The OBSAI aims to create an open market for cellular base
stations. An open market will substantially reduce the development effort and
costs that have been traditionally associated with creating new base station
product ranges. Since OBSAI was first established in September 2002, well over
one hundred companies have joined (as of February 2005), spanning base station
manufacturing, module manufacturing, and component manufacturing. OBSAI members
now have a complete suite of both interface and hardware specifications that
will enable the production of base station modules to fit any base station
utilising OBSAI interface specifications.
Open Communications
Architecture Forum: OCAF conducts studies of NGN services to determine
requirements for Commercial Off The Shelf technology that accelerates
deployment of new carrier grade open platforms, advancing NGN infrastructure
and services. The studies cover the complete solution stack and reflect views
of the service provider, solution provider, and technology provider.
Requirements identified by OCAF studies are documented in three predefined
templates. When complete, one template describes functional requirements, a
second template describes non-functional requirements (such as scalability,
availability, security, and legal), and a third template describes standards
requirements (such as ITU, SAF, ETSI, 3GPP, Open Mobile
Open Mobile
Open Mobile Terminal Platform
group: The OMTP
group, formed in June 2004, aims to define those platform requirements
necessary for mobile devices to deliver openly available standardized
application interfaces that will provide customers with a consistent and
improved user experience across different devices, while also enabling
individual operators and manufacturers to customize and differentiate their
offerings. Nokia participates OMTP activities as sponsor.
OSDL: Open Source
Development Lab is dedicated to enable Linux and Linux-based applications for
data center and carrier-class deployment. It gives open source developers
around the world resources to bring Linux further into telecommunications and
the enterprise. Nokia is supporting OSDL with 20 other industry leaders.
OSS/J: The
PCI Industrial Computer
Manufacturers Group: PICMG is a consortium of over 450 companies (as of February
2005) who collaboratively develop open specifications for high performance
telecommunications and industrial computing applications. The members of the
consortium have a long history of developing leading edge products for these
industries. PICMG specifications include CompactPCI® for Eurocard, rackmount
applications and PCI/ISA for passive backplane, standard format cards. Most
recently, PICMG completed the development of a new series of specifications,
called AdvancedTCA®,
for next-generation telecommunications equipment, with a new form factor and
based on switched fabric architectures.
RosettaNet is a non-profit
consortium of major information technology, electronic components,
semiconductor manufacturing, and telecommunications companies working to
create, implement, and promote open e-business process standards. These
standards form a common e-business language, aligning processes between supply
chain partners on a global basis. Today RosettaNet has over 500 member
companies, and is a subsidiary of the Uniform Code Council, Inc. Nokia has
taken an active role to drive the adoption of RosettaNet as a de facto standard
in electronics and telecom industry supply chain integration.
Service Availability Forum: The SAF is a
consortium of industry-leading communications and computing companies working
together to develop and publish high availability and management software
interface specifications. The SA Forum then promotes and facilitates
specification adoption by the industry. The Service Availability™ Forum
specifications enable the implementation of carrier-grade systems and services
built with Commercial off-the-shelf (COTS) building blocks, for the benefit of
Telecom Service Providers/Operators, Network Equipment Providers, and
Independent Software Vendors.
The SD Card Association is an
open industry standards organization established in 2000 by Matsushita Electric,
SanDisk and Toshiba, and is supported by a consortium of over 700 companies (as
of February 2005). The Association aims to set the technical and specification
standards for SD memory card applications and related products and promote the
wide acceptance of SD memory cards in a variety of applications.
Standard
Symbian was founded in
1998 with the aim of supporting a mass-market for Symbian OS based phones.
Shareholders of Symbian are Nokia, Ericsson, SonyEricsson, Panasonic, Psion and
Siemens. Symbian OS is built on open standards where possible and is equally
available to all to license. Licensees have access to the source code. Symbian
OS is a key component for OMA (Open Mobile Alliance) implementations and also
the basis of user interfaces, such as the Series 60.
Trusted Computing Group: The TCG is an
industry standardization body developing and promoting open specifications for
trusted computing hardware and associated software interfaces. TCG's work spans
different platforms, including PCs, servers, PDAs and mobile phones. TCG
specifications aim to create a more secure computing environment, without
fragmenting the security market.
TIA TR-45.3: The
Telecommunications Industry Association subcommittee 45.3 deals with the
evolution of Time Division Multiple Access (TDMA) Third Generation Wireless
Standards (TIA/EIA-136). Nokia was a key advocate for convergence with GSM. The
result is Enhanced General Packet Radio Service (EGPRS), a high-speed packet
data service for both TIA/EIA-136 and GSM. Nokia continues to devote resources
to the enhancement of EGPRS in 3GPP to ensure that the resulting standard meets
the needs of both the TDMA and GSM communities.
TM Forum: The
TeleManagement Forum (TM Forum) is a non-profit global organization that
provides leadership, strategic guidance, and practical solutions to improve the
management and operation of information and communications services. Its open
membership of over 340 companies comprises incumbent and new-entrant service
providers, computing and network equipment suppliers, software solution
suppliers, and customers of communications services. TM Forum has been
contributing to the Information and Communications Services (ICS) Industry for
over 13 years. The TM Forum has liaison partnerships with all key standards and
industry groups.
Telecommunication Technology
Committee: The TTC of Japan was established as a private standardization
organization in October 1985 to contribute to further activation of the field
of telecommunications, in which the free competitive market principle was
introduced based on the implementation of the Telecommunication Business Law in
1985, and to respond to the Japan/US Market Oriented Sector Service(MOSS)
Conference, which was held in the same year. The purpose of this committee is
to contribute to Japanese standardization in the field of telecommunications by
establishing protocols and standards for telecommunications networks and
terminal equipment, etc as well as to disseminate those standards.
Universal Plug and Play
Forum: The UPnP
Forum is an industry initiative whose goal is to enable simple and robust
connectivity among stand-alone devices and PCs from many different vendors. The
Forum consists more than 700 hundred vendors, including industry leaders in
consumer electronics, computing, home automation, home security, appliances,
printing, photography, computer networking, and mobile products. UPnP
technology is all about making home networking simple and affordable for users.
USB Implementers Forum, Inc. is a non-profit
corporation founded by the group of companies that developed the Universal
Serial Bus specification. The USB-IF was formed to provide a support
organization and forum for the advancement and adoption of Universal Serial Bus
technology. The Forum facilitates the development of high-quality compatible
USB peripherals (devices), and promotes the benefits of USB and the quality of
products that have passed compliance testing. Board members of USB IF include
Agere Systems, HP, Intel (the current chair), Microsoft, NEC and Philips. Nokia
is actively involved in promoting new standards which promote the use of USB
within the mobile device industry.
Video Electronics Standards
Association: VESA is an organization that supports and sets industry-wide interface
standards for the PC, workstation, and consumer electronics industries. VESA
promotes and develops timely, relevant, open standards for the display and
display interface industry, ensuring interoperability and encouraging
innovation and market growth.
W3C: World Wide Web
Consortium with its over 300 members, including Nokia, is developing common
protocols that promote the evolution of the World Wide Web and its
interoperability. HTML, XML and more than 40 other standards have been
developed by W3C during the recent years. W3C is based at MIT (Massachusetts
Institute of Technology) in the
WiMAX is a nonprofit
corporation that has been formed to promote and certify the compliance and
interoperability of devices based upon the IEEE 802.16 standards as well as
future standards as may by developed by WiMAX. WiMAX promotes alignment of IEEE
802.16 standards with other standard bodies such as ETSI (HiperMAN) and China
(CWTS) to ensure WiMAX is a worldwide standard. Most major telecommunications
manufacturers are members (Ericsson, Siemens, Alcatel, Lucent, Nortel,
Motorola). Nokia joined as principal member in November 2004.
The Wireless USB Promoter
Group was
formed to create a new wireless extension to USB that combines the speed and
security of wired technology with the ease-of-use of wireless technology. The
Promoter Group will speed time to market and ensure rapid consumer adoption by
preserving and extending the investment in the existing USB device and class
driver infrastructure. Broad industry participation in the Promoter Group
demonstrates the multi-vendor support of the technology and will ensure
interoperability of Wireless USB devices. The original USB principles of
ease-of-use, compatibility, and low cost continue to influence every design
decision made by the group.
WS-I: Web Services
Interoperability 0rganization is an open, industry organization chartered to
promote Web services interoperability across platforms, operating systems, and
programming languages. The organization of over 150 members works across the
industry and standards organizations to respond to customer needs by providing
guidance, best practices, and resources for developing Web services solutions.
Nokia believes that a rapidly increasing demand for new and versatile mobile
content calls for an open specification that enables seamless connection
between mobile networks and third party service provider systems.
WWRF: Wireless World
Research Forum is the global forum with over 70 members for discussing research
issues related to beyond 3G. The objective of WWRF is to formulate visions on
strategic future research directions in the wireless field, among industry and
academia, and to generate, identify, and promote research areas and technical
trends for mobile and wireless system technologies. WWRF does no research
itself, but research is carried out in separate projects. The forum is open to
all interested parties.
3GPP: The Third
Generation Partnership Project (3GPP) is a global body dedicated to developing
3G specifications. 3GPP is an initiative of standards organizations from
Europe,
3GPP2: 3GPP2 is an
initiative of standardization organizations from the
Association of Radio Industries and Business: ARIB was designated as "the Center for
Promotion of Efficient Use of Radio Spectrum" and "the Designated
Frequency Change Support Agency" by the Japanese Ministry of Internal
Affairs and Communications (MIC) under the provisions of the Japanese Radio
Law. ARIB conducts studies and R&D, establishes standards, provides
consultation services for radio spectrum coordination, cooperates with other
overseas organizations and provides frequency change support services for the
smooth introduction of digital terrestrial television broadcasting. These
activities are conducted in cooperation with and/or with participation by
telecommunication operators, broadcasters, radio equipment manufacturers and
related organizations as well as under the support by MIC.
Bluetooth SIG is
a trade association that is driving the development of a short-range wireless
specification for connecting digital devices. Nokia is one of the nine promoter
companies of Bluetooth SIG with 3Com, Ericsson, IBM, Intel, Lucent, Microsoft,
Motorola and Toshiba. In addition Bluetooth SIG has a about two thousand
Associate and Adopter members worldwide.
The CE-ATA Working Group: CE-ATA
was launched in September 2004 to develop a storage interface tailored to the
needs of small form factor disk drives in portable consumer electronics
applications. The benefits of CE-ATA are many. From an industry perspective,
small form factor disk drive suppliers can take advantage of a storage
interface tailored to the needs of such devices, resulting in highly optimized
disk drive designs. Host silicon providers and product integrators will also
benefit from the improved integration that the tailored interface affords due
to its low pin count, favorable voltages and efficient protocol. For consumers,
a disk drive interface tailored to the needs of the handheld and portable
consumer market segments could spur storage use in innovative new products and
lead to products with a more efficient storage solution.
CELF: The CE Linux
Forum is an industry group that is focused on the advancement of Linux as an
open source platform for consumer electronics devices. CELF was established in
July 2003 by Matsushita, Sony,
Communications and Information network Association of
Digital Living Network
DVB: The Digital
Video Broadcasting Project (DVB) is an industry-led consortium of over 300
broadcasters, manufacturers, network operators, software developers, regulators,
and other bodies in over 35 countries committed to designing global standards
for the delivery of digital television and data services. Nokia focuses on the
development of the DVB standard in areas related to digital TV set top boxes
and mobile datacast services.
ETSI: The European
Telecommunications Standards Institute unites 900 members from five continents.
ETSI members actively participate in 3GPP, and the organization also provides
secretarial support (Mobile Competence Center MCC) for 3GPP. Since 2003 ETSI
has also provided secretarial support and forum hosting service for Open Mobile
Alliance (OMA). Nokia's other focus areas in ETSI include Broadband Radio Access
Networks (BRAN), a body developing standards for wireless local area networks
(LANs) and point-to-multipoint radio links, TErrestrial Trunked Radio (TETRA),
and ETSI's Joint Technical Committee BROADCAST with the European Broadcasting
Union (EBU).
GSA: The Global
mobile Suppliers Association (GSA) has been established to ensure that the
GSM/3G supplier industry is better informed for decision-making, and that it's
views and requirements are adequately represented and accepted by influencers
and decision makers, particularly in areas affecting investment and business
growth opportunities, on a global scale. GSA is the representative body for the
GSM/3G supplier industry. It is an organisation created to meet suppliers'
needs and already represents over 80% of GSM/3G market share globally.
Membership is open to all suppliers of GSM/3G systems and services, from across
the entire supply chain.
IEEE: Institute of
Electrical and Electronics Engineers is a technical professional association of
more than 377,000 individual members in 150 countries. IEEE is active in
technical publishing, conferences and standardization, covering areas from
computer engineering, biomedical technology, and telecommunications to electric
power, aerospace, and consumer electronics. IEEE Standards Association, amongst
others, develops the 802.x local and metropolitan area wired and wireless
standards. Nokia also sponsors an annual Internet Award through the IEEE
Foundation. The award is given for exceptional contributions to the advancement
of Internet technology for network architecture, mobility, and end-user
applications.
Internet Engineering Task Force: IETF is an open community of network
designers, operators, vendors, and researchers concerned with the evolution of
the Internet architecture and the smooth operation of the Internet. Its main
task is the standardization of the core protocols of the Internet, including
IPv4, IPv6, IPSec, Mobile IP, IP routing, MPLS, DNS, TCP, TLS, SNMP and
DIAMETER. The IETF also standardizes some key Internet application protocols
such as SIP, RTP, HTTP and SMTP, which are the foundation for services like
VoIP, WWW and e-mail. As the Internet technology has become widely adopted,
IETF protocols also form the basis for the work of many other standardization
organizations, such as OMA, 3GPP, 3GPP2 and W3C. Nokia has a strong and active
presence in the IETF.
IPDC: The Internet
Protocol (IP) Datacast Forum is an international non-profit industry
association founded in 2001 by Nokia, Crown Castle International, Deutsche
Telekom, Digita, NTL Broadcast, Philips, Retevision, SkyStream Networks,
Teracom, and The Fantastic Corporation. The Forum facilitates the growth of
IP-based multimedia services for deployment over broadband networks, including
DVB (Digital Video Broadcasting) and DAB (Digital Audio Broadcasting). Nokia
promotes the development and the launch of IP-based datacast services over
DVB-T (Digital Video Broadcast, Terrestrial) networks.
ITU: International
Telecommunication Union, part of United Nations system of international
organizations, is where governments and the private sector coordinate telecom
networks and services globally. ITU consists of Radiocommunication Sector
(ITU-R), Telecommunication Sector (ITU-T) and Development Sector (ITU-D). Nokia
is a member in all sectors and believes that ITU-R has an essential role in
global radio spectrum management.
JCP: Java
Community Process is a framework under which the international Java Community
develops and maintains Java technology specifications, such as the language,
virtual machine, and different application programming interfaces. JCP forms a
de facto standardization process for Java related specifications.
Khronos Group: Khronos
is a member-funded industry consortium focused on the creation of open
standard, royalty-free APIs to enable the authoring and playback of dynamic
media on a wide variety of platforms and devices.
Liberty Alliance project
was formed to deliver and support a federated network identity solution for the
Internet enabling single sign-on for consumers as well as business users.
Founding members of Liberty Alliance are Nokia, American Express, America
Online, France Telecom, GM, HP, Mastercard, NTT DoCoMo, RSA Security, Sony, SUN
Microsystems, and Vodafone. In a federated view of the world, a person's online
identity, their personal profile, personalized online configurations, buying
habits, and history, and shopping preferences are administered by users, yet
securely shared with the organizations they choose. The role of the Liberty
Alliance project is to support the development, deployment, and evolution of an
open, interoperable specification for a federated network identity.
MeT:
Mobile IT forum: The
mITF was established in
MultiMediaCard Association: The
MMCA is the open standard memory card organization, promoting worldwide
adoption of a postage-stamp size, removable storage card designed especially
for mobile phones and digital imaging. Founded in 1998 with 14 companies, the
MMCA has grown rapidly and now has 190+ members worldwide (as of February
2005), representing all branches of mobile electronic applications, including
semiconductor suppliers, software vendors and manufacturers of low power
devices for storing and retrieving digital information.
Mobile Manufacturers Forum: The
MMF is an international association of radio equipment manufacturers. The MMF
was formed in 1998 to jointly fund key research projects, as well as to
cooperate on standards, regulatory issues and communications activities concerning
health and mobile phones. The goal of the MMF in research is to promote the
highest quality independent research that provides relevant data to develop
sound public policy.
Network Processing Forum: The
NPF was organized to facilitate and accelerate the development of
next-generation networking and telecommunications products based on network
processing technologies. By establishing common specifications, the NPF enables
equipment manufacturers to significantly reduce their design burden, while
having the flexibility to use the best components to fit their requirements.
Open Base Station Architecture Initiative: The OBSAI aims to create an open market for
cellular base stations. An open market will substantially reduce the
development effort and costs that have been traditionally associated with
creating new base station product ranges. Since OBSAI was first established in
September 2002, well over one hundred companies have joined (as of February
2005), spanning base station manufacturing, module manufacturing, and component
manufacturing. OBSAI members now have a complete suite of both interface and
hardware specifications that will enable the production of base station modules
to fit any base station utilising OBSAI interface specifications.
Open Communications Architecture Forum: OCAF conducts studies of NGN services to
determine requirements for Commercial Off The Shelf technology that accelerates
deployment of new carrier grade open platforms, advancing NGN infrastructure
and services. The studies cover the complete solution stack and reflect views
of the service provider, solution provider, and technology provider.
Requirements identified by OCAF studies are documented in three predefined
templates. When complete, one template describes functional requirements, a
second template describes non-functional requirements (such as scalability,
availability, security, and legal), and a third template describes standards
requirements (such as ITU, SAF, ETSI, 3GPP, Open Mobile
Open Mobile
Open Mobile Terminal Platform group: The OMTP group, formed in June 2004, aims to
define those platform requirements necessary for mobile devices to deliver
openly available standardized application interfaces that will provide
customers with a consistent and improved user experience across different
devices, while also enabling individual operators and manufacturers to
customize and differentiate their offerings. Nokia participates OMTP activities
as sponsor.
OSDL: Open Source Development
Lab is dedicated to enable Linux and Linux-based applications for data center
and carrier-class deployment. It gives open source developers around the world
resources to bring Linux further into telecommunications and the enterprise.
Nokia is supporting OSDL with 20 other industry leaders.
OSS/J: The
PCI Industrial Computer Manufacturers Group: PICMG is a consortium of over 450 companies
(as of February 2005) who collaboratively develop open specifications for high
performance telecommunications and industrial computing applications. The
members of the consortium have a long history of developing leading edge
products for these industries. PICMG specifications include CompactPCI® for
Eurocard, rackmount applications and PCI/ISA for passive backplane, standard
format cards. Most recently, PICMG completed the development of a new series of
specifications, called AdvancedTCA®, for next-generation
telecommunications equipment, with a new form factor and based on switched
fabric architectures.
RosettaNet is a
non-profit consortium of major information technology, electronic components,
semiconductor manufacturing, and telecommunications companies working to
create, implement, and promote open e-business process standards. These
standards form a common e-business language, aligning processes between supply
chain partners on a global basis. Today RosettaNet has over 500 member
companies, and is a subsidiary of the Uniform Code Council, Inc. Nokia has
taken an active role to drive the adoption of RosettaNet as a de facto standard
in electronics and telecom industry supply chain integration.
Service Availability Forum: The
SAF is a consortium of industry-leading communications and computing companies
working together to develop and publish high availability and management
software interface specifications. The SA Forum then promotes and facilitates
specification adoption by the industry. The Service Availability™ Forum
specifications enable the implementation of carrier-grade systems and services
built with Commercial off-the-shelf (COTS) building blocks, for the benefit of
Telecom Service Providers/Operators, Network Equipment Providers, and
Independent Software Vendors.
The SD Card Association is an open industry standards organization established in 2000 by
Matsushita Electric, SanDisk and Toshiba, and is supported by a consortium of
over 700 companies (as of February 2005). The Association aims to set the
technical and specification standards for SD memory card applications and
related products and promote the wide acceptance of SD memory cards in a
variety of applications.
Standard
Symbian was founded
in 1998 with the aim of supporting a mass-market for Symbian OS based phones.
Shareholders of Symbian are Nokia, Ericsson, SonyEricsson, Panasonic, Psion and
Siemens. Symbian OS is built on open standards where possible and is equally
available to all to license. Licensees have access to the source code. Symbian
OS is a key component for OMA (Open Mobile Alliance) implementations and also
the basis of user interfaces, such as the S60.
Trusted Computing Group: The
TCG is an industry standardization body developing and promoting open
specifications for trusted computing hardware and associated software
interfaces. TCG's work spans different platforms, including PCs, servers, PDAs
and mobile phones. TCG specifications aim to create a more secure computing
environment, without fragmenting the security market.
TIA TR-45.3: The
Telecommunications Industry Association subcommittee 45.3 deals with the
evolution of Time Division Multiple Access (TDMA) Third Generation Wireless
Standards (TIA/EIA-136). Nokia was a key advocate for convergence with GSM. The
result is Enhanced General Packet Radio Service (EGPRS), a high-speed packet
data service for both TIA/EIA-136 and GSM. Nokia continues to devote resources
to the enhancement of EGPRS in 3GPP to ensure that the resulting standard meets
the needs of both the TDMA and GSM communities.
TM Forum: The
TeleManagement Forum (TM Forum) is a non-profit global organization that
provides leadership, strategic guidance, and practical solutions to improve the
management and operation of information and communications services. Its open
membership of over 340 companies comprises incumbent and new-entrant service
providers, computing and network equipment suppliers, software solution
suppliers, and customers of communications services. TM Forum has been
contributing to the Information and Communications Services (ICS) Industry for
over 13 years. The TM Forum has liaison partnerships with all key standards and
industry groups.
Telecommunication Technology Committee: The TTC of Japan was established as a private
standardization organization in October 1985 to contribute to further
activation of the field of telecommunications, in which the free competitive
market principle was introduced based on the implementation of the
Telecommunication Business Law in 1985, and to respond to the Japan/US Market
Oriented Sector Service(MOSS) Conference, which was held in the same year. The
purpose of this committee is to contribute to Japanese standardization in the
field of telecommunications by establishing protocols and standards for
telecommunications networks and terminal equipment, etc as well as to
disseminate those standards.
Universal Plug and Play Forum: The UPnP Forum is an industry initiative whose
goal is to enable simple and robust connectivity among stand-alone devices and
PCs from many different vendors. The Forum consists more than 700 hundred
vendors, including industry leaders in consumer electronics, computing, home automation,
home security, appliances, printing, photography, computer networking, and
mobile products. UPnP technology is all about making home networking simple and
affordable for users.
USB Implementers Forum, Inc. is
a non-profit corporation founded by the group of companies that developed the
Universal Serial Bus specification. The USB-IF was formed to provide a support
organization and forum for the advancement and adoption of Universal Serial Bus
technology. The Forum facilitates the development of high-quality compatible
USB peripherals (devices), and promotes the benefits of USB and the quality of
products that have passed compliance testing. Board members of USB IF include
Agere Systems, HP, Intel (the current chair), Microsoft, NEC and Philips. Nokia
is actively involved in promoting new standards which promote the use of USB
within the mobile device industry.
Video Electronics Standards Association: VESA is an organization that supports and sets
industry-wide interface standards for the PC, workstation, and consumer
electronics industries. VESA promotes and develops timely, relevant, open
standards for the display and display interface industry, ensuring
interoperability and encouraging innovation and market growth.
W3C: World Wide Web
Consortium with its over 300 members, including Nokia, is developing common
protocols that promote the evolution of the World Wide Web and its
interoperability. HTML, XML and more than 40 other standards have been
developed by W3C during the recent years. W3C is based at MIT (Massachusetts
Institute of Technology) in the
WiMAX is a
nonprofit corporation that has been formed to promote and certify the
compliance and interoperability of devices based upon the IEEE 802.16 standards
as well as future standards as may by developed by WiMAX. WiMAX promotes
alignment of IEEE 802.16 standards with other standard bodies such as ETSI
(HiperMAN) and China (CWTS) to ensure WiMAX is a worldwide standard. Most major
telecommunications manufacturers are members (Ericsson, Siemens, Alcatel,
Lucent, Nortel, Motorola). Nokia joined as principal member in November 2004.
The Wireless USB Promoter Group was formed to create a new wireless extension
to USB that combines the speed and security of wired technology with the
ease-of-use of wireless technology. The Promoter Group will speed time to market
and ensure rapid consumer adoption by preserving and extending the investment
in the existing USB device and class driver infrastructure. Broad industry
participation in the Promoter Group demonstrates the multi-vendor support of
the technology and will ensure interoperability of Wireless USB devices. The
original USB principles of ease-of-use, compatibility, and low cost continue to
influence every design decision made by the group.
WS-I: Web Services
Interoperability 0rganization is an open, industry organization chartered to
promote Web services interoperability across platforms, operating systems, and
programming languages. The organization of over 150 members works across the
industry and standards organizations to respond to customer needs by providing
guidance, best practices, and resources for developing Web services solutions.
Nokia believes that a rapidly increasing demand for new and versatile mobile
content calls for an open specification that enables seamless connection
between mobile networks and third party service provider systems.
WWRF: Wireless
World Research Forum is the global forum with over 70 members for discussing
research issues related to beyond 3G. The objective of WWRF is to formulate
visions on strategic future research directions in the wireless field, among
industry and academia, and to generate, identify, and promote research areas
and technical trends for mobile and wireless system technologies. WWRF does no
research itself, but research is carried out in separate projects. The forum is
open to all interested parties
Nokia to supply Push to Talk to Fujian MCC in
China
January 12, 2006
Espoo, Finland - Fujian Mobile Communications of China has chosen
Nokia's Push to Talk over Cellular (PoC) platform to provide a new, instant
communication service to enterprises in Fujian province, and plans to later
expand the service to consumers.
The deal
underlines Nokia's strength in the dynamic Chinese mobile market, as well as
its leadership in Push to Talk technology. To date Nokia has over 45 PoC
references globally.
In addition to
the PoC platform, the contract includes Systems Integration (SI) services to
Fujian MCC's provisioning and billing platforms. Nokia SI services integrate
complex service platforms and related IT systems to work as a one seamless
entity in the customer environment.
"We are
pleased to continue our good cooperation with Fujian MCC and support them in
getting the most out of their network resources," says James Lin, Vice
President, Networks, Nokia
Nokia's PoC
solution offers a direct one-to-one and one-to-many voice communication service
in cellular networks. The 'always on' connection offers a direct and convenient
voice connection with the press of a button. Nokia's end-to-end PoC solution
will be compliant with the OMA standard. The Nokia PoC solution is compatible
with the IP multimedia subsystem (IMS) as standardized in 3GPP.
Nokia has been
the main GSM network supplier of Fujian MCC since 1995. Over the years, Fujian
MCC has been piloting many new mobile services including
About
Fujian Mobile
Communications Corporation Limited is one of the wholly owned subsidiaries of
China Mobile (HK) Limited and was listed in
About Nokia
Nokia is a
world leader in mobile communications, driving the growth and sustainability of
the broader mobility industry. Nokia connects people to each other and the
information that matters to them with easy-to-use and innovative products like
mobile phones, devices and solutions for imaging, games, media and businesses.
Nokia provides equipment, solutions and services for network operators and
corporations.
Media
Enquiries:
Nokia,
Networks
Communications
Tel. +358 7180
34379
Nokia
Communications
Tel. +358 7180
34900
E-mail:
press.office@nokia.com
www.nokia.com
Exercises with stock options of Nokia
Corporation
January 10, 2006
A total of 67,004 shares of Nokia Corporation ("Nokia")
were subscribed for as of December 30, 2005 based on Nokia's 2003 employee
stock option plan. This resulted in an increase of EUR 4,020.24 in Nokia's
share capital and an increase of EUR 959,320.84 in shareholders equity. The new
shares carry full shareholder rights as from the registration date, January 10,
2006. The shares are admitted to public trading on the Helsinki Exchanges as of
the same date together with the old Nokia share class (NOK1V).
As a result of
the increase, the share capital of Nokia is currently EUR 266,033,192.40 and
the total number of shares is 4,433,886,540 including the shares that are held
by the company.
Media
Enquiries:
Nokia
Communications
Tel: +358 7180
34900
Email:
press.office@nokia.com
www.nokia.com
Nokia makes two of its most popular phones
even better with Bluetooth technology
January 05, 2006
Nokia
6102i/6103 phones add popular Bluetooth technology to highly successful
mid-range compact fold design
Las Vegas,
Nevada, USA - Building upon the popularity of the Nokia 6101 and Nokia 6102
phones, Nokia (NYSE: NOK) today announced the Nokia 6102i and Nokia 6103
phones, both of which add the convenience of Bluetooth technology to the
already strong feature sets found on these compact mid-range fold-style phones.
The Nokia 6102i phone carries on the same striking design found on the Nokia
6102 phone, while the new Nokia 6103 phone features an updated modern look but
retains the compact size and exceptional ease-of-use that made the Nokia 6101
phone such a hit with customers. The Nokia 6102i and Nokia 6103 phones will be
available in a GSM 900/1800/1900 version primarily for markets in Europe,
Africa and Asia while a GSM 850/1800/1900 version will be available primarily
for markets in the
The addition
of Bluetooth technology to this popular phone platform opens up a myriad of
options for owners to increase the productivity and convenience of their mobile
experience. Nokia offers a wide array of Bluetooth technology-enabled
enhancements such as wireless car kits and wireless headsets as part of its
line of mobile enhancements. Today, Nokia announced a new trio of wireless
headsets including one of the smallest such devices ever made available.
Additionally, with an increasing number of products being introduced to market
incorporating Bluetooth technology - from laptops to automobiles - owners of
the Nokia 6102i and Nokia 6103 phones will find an ever expanding number of ways
to use their mobile devices.
"The
Nokia 6101 and Nokia 6102 phones have proven to be extremely successful. The
combination of a modern, compact folding design with a strong feature set and
Nokia's easy-to-use interface has proven to be an irresistible draw for
customers shopping for a mid-range handset," said Aage Snorgaard senior
vice president of broad appeal products for Nokia. "With Bluetooth
technology currently being on the top of many customers 'wish lists', the
addition of Bluetooth technology to this equation will make the Nokia 6102i and
Nokia 6103 phones even more attractive to wireless consumers."
Along with
Bluetooth technology, the Nokia 6102i and Nokia 6103 phones offer a strong
feature set including a VGA camera with dedicated camera key, Nokia Xpress
audio messaging for sending audio clips with just the touch of a few buttons
and dual color screens with support for animated wallpapers and screensavers.
Synchronizable contact and calendar information, voice dialing and recording
and a built-in handsfree speakerphone make the Nokia 6102i and Nokia 6103
phones a perfect productivity companion, while an integrated FM radio and
downloadable content support including
Media Enquiries:
Nokia
Communications
Tel: +358 7180
34900
E-mail:
press.office@nokia.com
Nokia
Head Office
Keilalahdentie
P.O. Box 226
FIN-00045 Nokia Group
Tel. 358 (0) 7180 08000
About Nokia
Nokia is a
world leader in mobile communications, driving the growth and sustainability of
the broader mobility industry. Nokia connects people to each other and the
information that matters to them with easy-to-use and innovative products like
mobile phones, devices and solutions for imaging, games, media and businesses.
Nokia provides equipment, solutions and services for network operators and
corporations.
Media
Enquiries:
Nokia,
Media
Relations
Tel. +1 972
894 4573
Email:
communication.corp@nokia.com
Nokia
Communications
Tel. +358 7180
34900
Email:
press.office@nokia.com
www.nokia.com
Tero Ojanpera has been designated a Young
Global Leader in 2006
January 09, 2006
Tero Ojanpera joins 175 leading executives, public figures and
intellectuals under the age of 40 from 50 countries who have been selected to
collectively shape the future.
Established in
2004 by Professor Klaus Schwab, Executive Chairman of the World Economic Forum,
the Forum of Young Global Leaders is a unique, multi-stakeholder community of
the world's most extraordinary leaders who are 40 years old or younger and who
are ready to dedicate a part of their time and energy to jointly work towards a
better future. They engage together in the 2020 Initiative, a comprehensive
endeavour, to understand current and future trends, risks and opportunities
both at global and regional levels, formulate a positive vision for the world
in 2020 and put forward concrete strategies to translate their vision into
action.
Each year a
new class of around 200 YGLs is selected for a five year membership, ultimately
forming a community of 1,111 by 2009. The 2006 class was chosen from among
3,500 candidates by the Forum of Young Global Leaders' Nomination Committee,
featuring 28 international media leaders, including Carl-Johan Bonnier of
Bonnier AB in Sweden, Arthur Sulzberger, the publisher of the New York Times,
Tom Glocer, chief executive of Reuters and Rui Chenggang, Director and Anchor
of China Central Television in the People's Republic of China. The Committee is
chaired by Her Majesty Queen Rania of the Hashemite Kingdom of Jordan.
The 2006 class
of Young Global Leaders includes over 60 business leaders, more than 30
government leaders, and dozens of scholars, media and nongovernmental
organization leaders. They come from 50 countries ranging from
During their
first meeting in Zermatt, Switzerland and throughout 2005, Young Global Leaders
formed task forces addressing priority global challenges for 2020 in the areas
of development and poverty, global governance and security, environment,
education, and health. In addition, a delegation of Young Global Leaders
visited the earthquake-affected areas of
The Young
Global Leaders will meet as a community at their Annual Summit in Vancouver,
Canada, 9-12 June 2006, when they will engage together in the 2020 Initiative,
a comprehensive endeavour, to understand current and future trends, risks and
opportunities at both the global and regional levels, formulate a positive
vision for the world in 2020 and put forward concrete strategies to translate
their vision into action.
For more
information and a detailed list of all Young Global Leaders, please visit
www.younggloballeaders.org as of 9 January 00.01 CET.
The Forum of
Young Global Leaders is an independent, Geneva, Switzerland-based foundation whose
mission is to build a unique, multi-stakeholder community of the world's most
extraordinary leaders under the age of 40 and give them a platform to
collaborate and shape best practices for the future of the world. Each year
they identify and mobilize a new group of 200 exceptional men and women in
business, politics, academia, the media and civil society from every region in
the world. Together, they form a powerful international force for the global
common good.
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the
subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.
8] Affiliation
with Government :
No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.
9] Compensation
Package :
Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 44.34 |
|
|
1 |
Rs. 87.61 |
|
Euro |
1 |
Rs. 57.61 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
This score
serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores obtained
from each of the major sections of this report. The assessed factors and their
relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |