1、2020 Nokia1 16 December 2020 Strategy and operating model update 2020 Nokia2 Disclaimer It should be noted that Nokia and its business are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements. These forward-looking stat
2、ements reflect Nokias current expectations and views of future developments and include the statements in the Outlook section and statements preceded by “believe”, “expect”, “expectations”, “commit”, “anticipate”, “foresee”, “see”, “target”, “estimate”, “designed”, “aim”, “plan”, “intend”, “influenc
3、e”, “assumption”, “focus”, “continue”, “project”, “should”, “is to”, “will” or similar expressions. These statements are based on managements best assumptions and beliefs in light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ ma
4、terially from the results that we currently expect. Factors, including risks and uncertainties that could cause such differences can be both external, such as general, economic and industry conditions, as well as internal operating factors. We have identified these in more detail in our annual repor
5、t on Form 20-F for the year ended December 31, 2019 under “Operating and Financial Review and ProspectsRisk Factors“, our financial report for Q1/2020 published on 30 April 2020 on From 6-K, and in our other filings or documents furnished with the U.S. Securities and Exchange Commission, including N
6、okias financial results reports. 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-
7、looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. Nokia presents financial information on reported, non-IFRS and constant currency basis. Non-IFRS measures presented in this document exclude costs related to the acquisition
8、 of Alcatel- Lucent and related integration, goodwill impairment charges, intangible asset amortization and other purchase price fair value adjustments, restructuring and associated charges and certain other items that may not be indicative of Nokias underlying business performance. In order to allo
9、w full visibility on determining non-IFRS results, information on non-IFRS exclusions is presented separately for each of the components of profit or loss. Constant currency reporting provides additional information on change in financial measures on a constant currency basis in order to better refl
10、ect the underlying business performance. Therefore, change in financial measures at constant currency excludes the impact of changes in exchange rates in comparison to euro, our reporting currency. Non-IFRS or constant currency financial measures should not be considered in isolation from, or as a s
11、ubstitute for, financial information presented in compliance with IFRS, and either of these financial measures as used by Nokia may not be comparable to similarly titled measures used by other companies or persons. Please see our complete financial report for more information on our results and fina
12、ncial performance for the indicated periods as well as our operating and reporting structure. Proposed organizational changes referenced in this release may be subject to consultation with employee representatives in certain jurisdictions and are not considered final until such processes are complet
13、ed. Nokia is a registered trademark of Nokia Corporation. Other product and company names mentioned herein may be trademarks or trade names of their respective owners. 2020 Nokia3 Welcome Pekka Lundmark President and CEO Marco Wirn CFO 4.Strategic analysis 10.Business group update, including market
14、dynamics, our competitive positions, strategic imperatives and financial expectations 25.Strong capital structure and prudent financing strategy 27.Prioritizing capital towards areas where we can achieve leadership 28.Driving a lean corporate structure 29. Clear and transparent reporting and communi
15、cation 2020 Nokia4 Strategic analysis 2020 Nokia5 Technology is vital in solving the worlds challenges Pressure on the planet is increasing Reducing carbon emissions and optimizing our use of scarce resources Productivity is stalling Bringing digitalization to the physical industries it has not yet
16、reached Access to opportunity remains stubbornly unequal Providing more inclusive access to work, healthcare and education 2020 Nokia6 A summary of our six strategic beliefs 1. Networks play an increasingly important role in society. This allows us to extend our focus to serving Critical Networks be
17、yond CSPs. 2020 Nokia7 Critical Networks Networks are playing an increasingly important role in society. This is allowing us to extend our focus to serving Critical Networks beyond CSPs. Critical NetworksCritical Networks Intelligent, automated, self-optimized and on-demand Webscale elasticity and f
18、lexibility Carrier-grade resilience and performance 2020 Nokia8 A summary of our six strategic beliefs 1. Networks play an increasingly important role in society. This allows us to extend our focus to serving Critical Networks beyond CSPs. 4. Re-establishing technology leadership in some segments re
19、quires us to anticipate, shape and invest in the next technology window where there is no path, we will reassess segment participation. 2. Critical Networks are built based on a best-of- breed approach with network elements selected on a best performance per TCO basis. 3. Technology leadership under
20、pins momentum and financial returns in Critical Networks. 5.Over the longer term, value in Critical Networks is migrating away from monolithic systems towards silicon, software and service and will be captured through different business models. 6.Sustained investment in long-term innovation provides
21、 us with a platform to take the long view. 2020 Nokia9 Our focus areas For customers Secure technology leadership Build our cloud software and network services future A trusted partner for Critical Networks Strengthen our long- term research and patent portfolio What Renew our operating model, capab
22、ilities and culture Invest in a best-of-breed portfolio How For shareholdersDrive long-term value growth 2020 Nokia10 About our business 2020 Nokia11 Mobile Networks Net sales of approximately 10bn* Tommi Uitto President, Mobile Networks Portfolio Radio Access Network (RAN) and Microwave Radio Link
23、products, and related network management solutions Network planning, deployment, optimization and technical support services Objective Create value by regaining industry leadership in wireless mobility networks and associated services * Indicative only, in the last four quarters. 2020 Nokia12 Mobile
24、 Networks Market Slight overall market growth with significant growth in enterprise: 5G is driving customer demand Growth in ORAN and vRAN we are investing to improve our technology leadership Trust and security are increasing in importance Competitive position: #2 in 4G and 5G, excluding China #2 i
25、n rollout services, globally Source for estimates: DellOro rolling four quarters for competitive position External analysts and Nokia analysis for market, excluding China 27% Market share 43 44 20202023 in EUR billion, excluding China 1% CAGR 4G and 5G, excluding China 2020 Nokia13 Mobile Networks F
26、ocus areas and expectations Strategic imperatives 2021: Execute ongoing turnaround and drive competitiveness in 5G and services digitalization Leadership in 5G and ORAN/vRAN and maintaining scale with CSPs Grow enterprise-dedicated Private Wireless Networks business High performance and learning cul
27、ture and lean operating model Accelerate cost reduction across products, services and power consumption *Comparable results exclude amortization of acquired intangibles, restructuring and other items affecting comparability. The information provided reflects Nokias new operating model, effective Jan
28、uary 1, 2021. Comparable* operating margin % 2021: around zero Longer term: significant improvement 2020 Nokia14 Network Infrastructure Net sales of approximately 7bn* * Indicative only, in the last four quarters. Federico Guilln President, Network Infrastructure Portfolio IP Networks Optical Networ
29、ks Fixed Networks Alcatel Submarine Networks Objective Create value by being the worlds most trusted partner, with best-of-breed solutions for the worlds most Critical Networks 2020 Nokia15 Network Infrastructure Market Overall growth driven by enterprise and webscale; CSP market flattish: Market fa
30、ctors, including the 5G cycle, drive customer demand Trust and security are increasing in importance Competitive position: #3 in CSP IP routing (edge and core) #2 excluding China #4 in optical networking (WDM) #3 excluding China #2 in fixed access networks (ONT, OLT, DSL) - #1 excluding China Leader
31、 in submarine networks Source for estimates: DellOro and Omdia rolling four quarters for competitive positions External analysts and Nokia analysis for global market 18% Global 11%19% 43 47 20202023 3% CAGR in EUR billion, excluding the submarine cable market Optical networking CSP IP routing Fixed
32、access 25%17%32% Excluding China Market share 2020 Nokia16 Network Infrastructure Focus areas and expectations Strategic imperatives Expand leadership in IP routing for CSPs, establish data center switching/routing business and grow in enterprise/webscale switching and routing Grow optical sales int
33、o CSPs, webscale and enterprise while driving cost savings through targeted vertical integration Maintain leadership in fiber access and in 5G fixed wireless access Expand leadership position in submarine networks while scaling up our capacity *Comparable results exclude amortization of acquired int
34、angibles, restructuring and other items affecting comparability. The information provided reflects Nokias new operating model, effective January 1, 2021. Comparable* operating margin % 2021: high single digit Longer term: gradual improvement 2020 Nokia17 Cloud and Network Services Net sales of appro
35、ximately 3bn* * Indicative only, in the last four quarters. Raghav Sahgal President, Cloud and Network Services Portfolio Communications software Mobile and converged core solutions Enterprise solutions Cognitive services Managed services Objective Create value by leading the industry transition to
36、cloud- native software and as-a- service delivery models, as demand for Critical Networks accelerates 2020 Nokia18 10 16 15 12 20202023 in EUR billion Cloud and Network Services Market Significant value shift towards critical networks with growth in: Cloud-native, open architecture software Advanced
37、, cognitive services As-a-service delivery models Industry 4.0 solutions, driven by 5G Competitive position: #1 in telecommunications software and software services Leader in cognitive automation #1 in industrial private wireless* Source for estimates: Analysys Mason and GlobalData for competitive p
38、ositioning External analysts and Nokia analysis for market * Customer wins 7% 2% CAGR Market share Telecommunications software and software services 26 27 -9% +14% Future Legacy 2020 Nokia19 Cloud and Network Services Focus areas and expectations Strategic imperatives Fully transition to cloud-nativ
39、e portfolio Expand cognitive service capability Boost leadership in private wireless Build network-enhanced industrial automation Transition to as-a-service delivery models Strengthen and scale partner ecosystem *Comparable results exclude amortization of acquired intangibles, restructuring and othe
40、r items affecting comparability. The information provided reflects Nokias new operating model, effective January 1, 2021. Comparable* operating margin % 2021: mid single digit Longer term: significant improvement 2020 Nokia20 Nokia Technologies Net sales of approximately 1.4bn* * Indicative only, in
41、 the last four quarters. Jenni Lukander President, Nokia Technologies Portfolio Patent licensing Technology licensing Brand licensing Objective Create value by maintaining our industry-leading patent portfolio and growing Nokias intellectual property licensing 2020 Nokia21 Nokia Technologies Industr
42、y-leading patent portfolio; circa 20,000 patent families, including 3,500+ 5G standard essential patent families An independent report concluded that Nokia is #1 for ownership of granted patents found essential to the 5G Standard* Strong licensing track record across the segments we focus on 200+ li
43、censees across all programs * Source: PA Consulting The list of licensees is not all inclusive, it is for illustration purposes only and may include past and/or current licensees and does not imply future license renewals Agreement reached Company Achieved objectives 2008Huawei 2011Apple 2012Blackbe
44、rry 2014HTC 2015LG 2016Samsung 2017Apple 2017Xiaomi 2017Huawei 2018OPPO 2018Vivo 2019Samsung #2 Competitive position, based on 2019 licensing revenue 2020 Nokia22 Nokia Technologies Focus areas and expectations Strategic imperatives Drive innovation by investing in 5G and multimedia R&D and standard
45、ization and continuing to renew our industry-leading patent portfolio for the long term Continue successful smartphone licensing by securing renewals for the major mobile device deals at favorable rates and licensing remaining uncontracted vendors Continue to diversify and grow in new segments, incl
46、uding Automotive, Consumer Electronics and IoT, and further leverage broad technology assets Build brand partnerships and grow brand value by developing new brand licensing opportunities, including in smart home and other connected devices *Comparable results exclude amortization of acquired intangi
47、bles, restructuring and other items affecting comparability. The information provided reflects Nokias new operating model, effective January 1, 2021. Comparable* operating profit 2021: slight improvement year-on-year Longer term: stable 2020 Nokia23 Our refreshed operating model CFO Organization Leg
48、al and Compliance People Strategy and Technology Mobile Networks Network Infrastructure Cloud and Network Services Nokia Technologies Customer Experience Corporate Affairs Lean corporate center enabling fully accountable business groups 2020 Nokia24 CFO remarks Marco Wirn CFO 25.Strong capital struc
49、ture and prudent financing strategy 27.Prioritizing capital towards areas where we can achieve leadership 28.Driving a lean corporate structure 29. Clear and transparent reporting and communication 2020 Nokia25 Strong capital structure and prudent financing strategy The foundation for our long-term
50、stability and liquidity, as well as our ability to invest in R&D to ensure technology leadership We target an investment grade credit rating. We intend to maintain a level of total cash and other liquid assets at 30% or more of annual net sales. We are driving value creation through improved focus o
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