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First units established in the Nokia Ventures Organization
June 24, 1998
Nokia has established three first units to form the recently announced organization of Nokia Ventures. They will focus on corporate customers, service and software businesses and are Wireless Business Communications, Wireless Service Applications, and Wireless Software Solutions.
The first unit, Wireless Business Communications, focuses on the development of new wireless solutions for corporate customers. The convergence of tele and data communication, together with the growth of wireless has created a new corporate market for rapidly growing business communications needs. Nokia is well-positioned to develop and offer new wireless solutions to corporations directly as well as with teleoperators. Wireless Business Communications is headed by Mr Reijo Paajanen, Senior Vice President.
The field of activity for Wireless Service Applications is to develop new solutions for the wireless environment, at this stage especially in the area of health care. The unit has already successfully developed its first product, WellMate, which is a health care tool for personal management of chronic diseases. Wireless Service Applications is headed by Mr Hans Ehrnrooth, Vice President.
The third unit of the Nokia Ventures, Wireless Software Solutions focuses on the development of software products based on the Wireless Application Protocol (WAP) standard. It also develops wireless applications based on WAP as well as other software technologies. Wireless Software Solutions is headed by Mr Pertti Lounamaa, Vice President.
As announced earlier, Nokia has also established a USD 100 million Venture Capital Fund, which is based in Silicon Valley, California. Nokia Venture Capital Fund is to fuel future growth and to boost new product and long term business development. The Fund is headed by Mr John Malloy, Vice President.
As of July 1, 1998, Nokia will consist of three business groups: Nokia Telecommunications, Nokia Mobile Phones and Nokia Communications Products. Nokia Ventures, headed by Mr Pekka Ala-Pietilä, Executive Vice President, is a separate organization running parallel with the business groups. Within the Nokia Ventures organization, Mr Harry Santamäki, Vice President, Business Development is responsible for business development, as well as facilitating and identifying of new businesses. Reijo Paajanen, Hans Ehrnrooth, Pertti Lounamaa, John Malloy and Harry Santamäki will all report to Pekka Ala-Pietilä as of July 1, 1998.
Headquartered in Finland, Nokia is a broad-scope telecommunications company supplying mobile phones, mobile and fixed telecommunications networks, data communications solutions, multimedia terminals and computer monitors. With sales in 130 countries, net sales totaled FIM 52.6 billion ($9.8 billion) in 1997. Nokia, listed on NYSE (NOK.A), employs more than 38,000 people worldwide.
Further information:
Nokia Corporate Communications
Tel. +358 9 1807 485
Fax +358 9 652 409
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