Nokia Corp. Q2 2010 Earnings Call Transcript

Jul. 22, 2010 11:39 AM ETNokia Oyj (NOK)
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Nokia Corp. (NYSE:NOK) Q2 2010 Earnings Conference Call July 22, 2010 8:00 AM ET

Executives

Kristian Pullola – VP, Head of Treasury and IR

Olli-Pekka Kallasvuo – President and CEO

Timo Ihamuotila – EVP and CFO

Analysts

Rod Hall – JP Morgan

Andrew Griffin – Bank of America

Mark Sue – RBC Capital Market

Gareth Jenkin – UBS

Ittai Kidron – Oppenheimer

Stuart Jeffrey – Nomura

Tim Boddy – Goldman Sachs

Tim Long – Bank of Montreal

Pierre Ferragu – Bernstein

Andrew Gardiner

Kristian Pullola

Ladies and gentlemen, welcome to Nokia's Second Quarter 2010 conference call. I am Kristian Pullola, the Head of Investor Relations. Olli-Pekka, CEO of Nokia and Timo Ihamuotila, CFO of Nokia here in Espoo with me today.

During this briefing and call, we will be making forward-looking statements regarding the future business and financial performance of Nokia and its industry. These statements are predictions that involve risks and uncertainties. Actual results may therefore differ materially from the results currently expected. Factors 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 on pages 11 to 32 in our 2009 20-F and in our press release issued today.

Our aim is to finish this call in approximately one hour. To view the supporting slides while listening to the call, please go to the IR website. Please note that today's press release and this presentation includes non-IFRS results information in addition to the reported results information. Our quarterly results release includes a detailed explanation of the content of the non-IFRS information as well as a reconciliation between the two.

With that, Olli-Pekka, please go ahead.

Olli-Pekka Kallasvuo

Thank you, Kristian. Good morning and good afternoon. Considering our mid quarter update and the

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