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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Lurgio who wrote (2599)	10/26/1999 7:46:00 AM
From: Jim Lurgio	Read Replies (1) \| Respond to of 34857

OCT 25, 1999, M2 Communications - Nokia today announced the formation of a new unit, Nokia Home Communications, which will focus on the development of digital home platforms and IP technology-based communications solutions for the home environment. The new unit will combine Nokia's strong expertise in various technologies such as Wireless Local Area Networks (LAN), Internet Protocol (IP) and digital broadcasting. Pekka Ala-Pietilo, President, Nokia, commented: "Nokia's Global IP Mobility strategy features three environments: Personal, Office and Home. In the future IP based applications and terminals will work seamlessly among all three environments. We therefore recognize the vital importance of having a powerful position in the Home Environment. To ensure a strong focus for Nokia Home Communications it will be part of Nokia Ventures Organization." Heikki Koskinen, head of Nokia Home Communications, said: "We believe that the global market for Home Environment related products will develop in a very positive and fascinating way in the future. Bringing broadband access to the home opens up new opportunities for operators and service providers, enabling them to provide Internet related and other new services to consumers. The development of open standards-based Internet-enhanced television solutions announced last week in cooperation with Intel is the first example of how we will be creating digital home platforms." Nokia Home Communications will be headquartered in Linkoping, Sweden. Nokia Ventures Organization explores new business areas facilitating future growth and boosting Nokia's product and long term business development. To date, Nokia Ventures Organization includes Nokia Internet Communications, Nokia Home Communications, Nokia Ventures Fund and an internal venturing unit. Nokia is paving the way to the mobile information society with its innovative products and solutions. Nokia is the leading mobile phone supplier and a leading supplier of mobile, fixed and IP networks including related services. It also supplies multimedia terminals and computer displays. In 1998, net sales totaled EUR 13.3 billion (USD 15.7 billion). Headquartered in Finland, Nokia is listed on the New York (NOK), Helsinki, Stockholm, London, Frankfurt and Paris stock exchanges and employs more than 53 000 people. -0- (C)1994-99 M2 COMMUNICATIONS LTDCONTACT: Jyrki Rosenberg, Communications Manager, Nokia Ventures Organization Tel: +358 9 5116 2127 Fax: +358 9 5116 2590 WWW: nokia.com M2 COMMUNICATIONS DISCLAIMS ALL LIABILITY FOR INFORMATION PROVIDED WITHIN M2 PRESSWIRE. DATA SUPPLIED BY NAMED PARTY/PARTIES.