Nokia today announced that it has closed the acquisition of
Withings S.A. earlier than had been expected. Through this
acquisition, originally announced on April 26, 2016, Nokia
Technologies has established a new Digital Health business unit led
by Cédric Hutchings, formerly CEO of Withings, who reports to Ramzi
Haidamus, president of Nokia Technologies.
The Digital Health business unit combines the talented employees
from Withings and experts from the preventive health and patient
care teams in Nokia Technologies. The new business unit builds on
the pioneering work of Withings, offering a family of award-winning
digital health products designed to fit seamlessly into people's
lives, empowering them to make smarter decisions about the health
and wellbeing of themselves and their families. The product line
includes activity trackers, smart body analyzer scales,
thermometers, blood pressure monitors, home and baby monitors and
more, built on a sophisticated digital health platform. Together,
under Cédric's leadership, the Digital Health team will continue to
design smarter products for healthy living.
"This is the beginning of an exciting new chapter in the history
of Nokia Technologies as we extend our product portfolio to include
a series of powerful digital health technologies," said Ramzi
Haidamus, president, Nokia Technologies. "The Nokia brand is
synonymous with innovation, connectivity and consumer technology
and the acquisition of Withings puts us in a perfect position to
capitalize on the huge opportunity in the health space. We're
excited to welcome the Withings team to the Nokia family."
On June 9, Nokia Technologies will be hosting an invitation only
event in San Francisco to share its vision for digital health and
showcase its products, coinciding with the opening of its San
Francisco office, in the heart of the Bay Area.
About Nokia Technologies
Nokia Technologies is Nokia's advanced technology and licensing
business. Formed in 2014, TECH builds upon our solid foundation of
industry-leading licensing and technology R&D capabilities. By
focusing on Digital Health, Digital Media, Brand Licensing and
Patent Licensing, TECH is expanding the human possibilities of the
ever-evolving world of technology. In 2015, Nokia Technologies
launched OZO, the world's first virtual reality (VR) camera
designed for professionals.
About Nokia
Nokia is a global leader in the technologies that connect people
and things. Powered by the innovation of Nokia Bell Labs and Nokia
Technologies, the company is at the forefront of creating and
licensing the technologies that are increasingly at the heart of
our connected lives.
With state-of-the-art software, hardware and services for any
type of network, Nokia is uniquely positioned to help communication
service providers, governments, and large enterprises deliver on
the promise of 5G, the Cloud and the Internet of
Things. www.nokia.com
Media Enquiries: Nokia Communications Tel. +358 (0) 10
448 4900 Email: press.services@nokia.com Investor Enquiries:
Nokia Investor Relations Tel. +358 4080 3 4080 Email:
investor.relations@nokia.com
RISKS AND FORWARD-LOOKING STATEMENTS
It should be noted that Nokia and its businesses are exposed to
various risks and uncertainties and certain statements herein that
are not historical facts are forward-looking statements, including,
without limitation, those regarding: A) expectations, plans or
benefits related to our strategies and growth management; B)
expectations, plans or benefits related to future performance of
our businesses; C) expectations regarding market developments,
general economic conditions and structural changes; D) expectations
and targets regarding financial performance, results, operating
expenses, taxes, cost savings and competitiveness, as well as
results of operations including targeted synergies and those
related to market share, prices, net sales, income and margins; E)
expectations regarding restructurings, investments, uses of
proceeds from transactions, acquisitions and divestments and our
ability to achieve the financial and operational targets set
in connection with any such restructurings, investments,
divestments and acquisitions; and F) statements preceded by or
including "believe," "expect," "anticipate," "foresee," "sees,"
"target," "estimate," "designed," "aim," "plans," "intends,"
"focus," "continue," "project," "should," "will" or similar
expressions. These statements are based on the management's best
assumptions and beliefs in light of the information currently
available to it. Because they involve risks and uncertainties,
actual results may differ materially from the results that we
currently expect. Factors, including risks and uncertainties, that
could cause such differences include, but are not limited to: 1)
our ability to execute our strategy, sustain or improve the
operational and financial performance of our business or correctly
identify or successfully pursue business opportunities or growth;
2) our dependence on general economic and market conditions and
other developments in the economies where we operate; 3) our
dependence on the development of the industries in which we
operate, including the Digital Health and Telecommunications
industries; 4) our exposure to regulatory, political or other
developments in various countries or regions, including emerging
markets and the associated risks in relation to healthcare, tax
matters and exchange controls, among others; 5) our ability to
effectively and profitably compete and invest in new competitive
high-quality products, services, upgrades and technologies and
bring them to market in a timely manner; 6) Nokia Technologies'
ability to maintain and establish new sources of patent licensing
income and IPR-related revenues, particularly in the smartphone
market; 7) our dependence on IPR technologies, including those that
we have developed and those that are licensed to us, and the risk
of associated IPR-related legal claims, licensing costs and
restrictions on use; 8) our exposure to direct and indirect
regulation, including healthcare related regulation, economic or
trade policies, and the reliability of our governance, internal
controls and compliance processes to prevent regulatory penalties;
9) our reliance on third-party solutions for data storage and the
distribution of products and services, which expose us to risks
relating to security, regulation and cybersecurity breaches; 10)
Nokia Technologies' ability to generate net sales and profitability
through licensing of the Nokia brand, the development and sales of
products and services, as well as other business ventures which may
not materialize as planned; 11) our ability to retain, motivate,
develop and recruit appropriately skilled employees; 12) our
ability to manage our manufacturing, service creation, delivery,
logistics and supply chain processes, and the risk related to our
geographically concentrated production sites; 13) the impact of
unfavorable outcome of litigation, arbitration, agreement-related
disputes or allegations of product liability associated with our
businesses; 14) inefficiencies, breaches, malfunctions or
disruptions of information technology systems; 15) our ability to
achieve targeted benefits from or successfully implement planned
transactions, as well as the liabilities related thereto; 16) our
ability to manage and improve our financial and operating
performance, cost savings, competitiveness and synergy benefits
after the acquisition of Alcatel Lucent; and 17) unexpected
liabilities with respect to pension plans, insurance matters and
employees, as well as the risk factors specified on pages 69 to 87
of our annual report on Form 20-F filed on April 1, 2016 under
"Operating and financial review and prospects-Risk factors", as
well as in Nokia's other filings with the U.S. Securities and
Exchange Commission. Other unknown or unpredictable factors or
underlying assumptions subsequently proven to be incorrect could
cause actual results to differ materially from those in the
forward-looking statements. We do not undertake any obligation to
publicly update or revise forward-looking statements, whether as a
result of new information, future events or otherwise, except to
the extent legally required.
HUG#2016769
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