Good News from Mon, 18 June, 2012:

Nokia acquires Scalado from Sweden and sells Vertu

Nokia wants to improve imaging technology in its Lumia phones. Nokia wants to improve imaging technology in its Lumia phones.

Nokia, the global mobile manufacture, is acquiring the imaging company Scalado based on Sweden in a move to improve the camera technology use on its Lumia Windows Phone devices. The deal is expected to close during the third quarter of 2012.

Nokia has been working closely with the Swedish company for more than ten years. The Lund site in Sweden is planned to become a key site for Nokia's imaging software for smartphones, in addition to Nokia's existing locations in Espoo and Tampere, Finland.

— This transaction would enable us to combine our leadership in camera devices with their expertise in imaging, helping people move beyond taking pictures to capturing moments and emotions and then reliving them in many different ways, said Jo Harlow, executive vice president, Smart Devices at Nokia.

Nokia has announced that it is selling its luxury mobile phone brand Vertu, which is going to be sold to EQT VI, part of the leading private equity group in Northern Europe. Nokia believes that this is the best option for the next step in Vertu's journey of delivering excellence, enabling the brand to focus on increased opportunities for growth in the luxury category.

Last week Nokia announced that it will cut worldwide workforce by 10,000 employees, with 3,700 jobs reduced in Finland.

www.nokia.com

MM