SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a -16 or 15d -16 of

the Securities Exchange Act of 1934

Report on Form 6-K dated July 17, 2008

Nokia Corporation

Nokia House

Keilalahdentie 4

02150 Espoo

Finland

(Name and address of registrant’s principal executive office)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Enclosures:

1.               Nokia stock exchange release dated July 17, 2008: Nokia Q2 2008 net sales EUR 13.2 billion, EPS EUR 0.36 excl. special items (reported EPS EUR 0.29), Market share gains and strong profitability drive EPS growth (excluding special items).

Nokia Q2 2008 net sales EUR 13.2 billion, EPS EUR 0.36 excl. special items (reported EPS EUR 0.29)

Market share gains and strong profitability drive EPS growth (excluding special items)

Note 1 to table relating to figures excluding special items:

Q2 2008 special items

·      EUR 259 million of charges related to closure of the Bochum site in Germany (impacting Devices & Services operating profit).

·      EUR 201 million restructuring charge and other one time items (impacting Nokia Siemens Networks operating profit).

Please see “Q2 2007 special items” of net positive EUR 966 million, and “Q1 2008 special items” of net negative EUR 333 million, on page 11 in this press release for a description of the special items for those quarters.

Note 2 to table relating to Nokia Group operating profit, Nokia Siemens Networks operating profit and Nokia EPS, both reported and excluding special items, and Nokia Group operating margin and Nokia Siemens Networks operating margin, excluding special items:

In addition to the special items, Nokia Siemens Networks reported operating profit in Q2 2008 included EUR 120 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks; Q2 2007 included a total of EUR 297 million of intangible asset amortization, other purchase price accounting related items and inventory value adjustments arising from the formation of Nokia Siemens Networks; and Q1 2008 included EUR 120 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks.

EPS excluding special items, intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks was EUR 0.37 in Q2 2008; EUR 0.35 in Q2 2007 (also excluding inventory value adjustments); and EUR 0.39 in Q1 2008.

SECOND QUARTER 2008 HIGHLIGHTS

·                  Nokia net sales of EUR 13.2 billion, up 4% year on year and up 4% sequentially (up 11% and 7% at constant currency).

·                  Devices & Services net sales of EUR 9.1 billion, down 1% year on year and down 2% sequentially (up 6% and 1% at constant currency).

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·                  Nokia Siemens Networks net sales of EUR 4.1 billion, up 18% year on year and up 20% sequentially (up 26% and 23% at constant currency).

·                  Services and software net sales of EUR 119 million, up 42% sequentially.

·                  Nokia diluted EPS of EUR 0.36, up 13% year on year, excluding special items.

·                  Nokia operating margin of 14.7%, up from 11.1% in Q2 2007 and flat sequentially, excluding special items.

·                  Devices & Services operating margin of 20.1%, up from 19.4% in Q2 2007 and down sequentially from 21.2%, excluding special items.

·                  Nokia Siemens Networks operating margin of 3.8%, excluding special items, and 6.7%, excluding special items and purchase price accounting related items arising from the formation of Nokia Siemens Networks.

·                  Nokia operating cash flow of EUR 1.5 billion.

·                  Estimated industry mobile device volumes of 303 million units, up 15% year on year and up 3% sequentially.

·                  Nokia mobile device volumes of 122 million units, up 21% year on year and up 6% sequentially.

·                  Nokia estimated mobile device market share of 40%, up from 38% in Q2 2007 and up from 39% sequentially.

·                  Nokia mobile device ASP of EUR 74, down sequentially from EUR 79 (approximately 40% of the decline was caused by the impact of exchange rate movements).

OLLI-PEKKA KALLASVUO, NOKIA CEO:

“Nokia delivered increased device market share and strong underlying profitability in the quarter. Looking at the rest of the year, we are optimistic and have had good feedback about the broad range of new products we expect to sell in our device business. In the second quarter we saw good momentum in the early stages of our services and software business, and we believe that the next wave of growth will be driven by devices linked with services. On the infrastructure side, Nokia Siemens Networks delivered a second quarter with good net sales growth and improved profitability.”

INDUSTRY AND NOKIA OUTLOOK

·                  Nokia expects industry mobile device volumes in the third quarter 2008 to be up sequentially.

·                  Nokia expects its mobile device market share in the third quarter 2008 to be approximately at the same level sequentially.

·                  Nokia now expects industry mobile device volumes in 2008 to grow 10% or more from the approximately 1.14 billion units Nokia estimated for 2007. This is an update to Nokia’s earlier estimation that industry mobile device volumes would grow approximately 10% in 2008.

·                  Nokia continues to target an increase in its market share in mobile devices in 2008.

·                  Nokia and Nokia Siemens Networks continue to target for Nokia Siemens Networks market share to remain constant in 2008, compared to 2007.

·                  Nokia and Nokia Siemens Networks continue to expect the mobile infrastructure and fixed infrastructure and related services market to be flat in Euro terms in 2008, compared to 2007.

·                  Nokia and Nokia Siemens Networks continued cost synergy target for Nokia Siemens Networks is to achieve substantially all of the EUR 2.0 billion of targeted annual cost synergies by the end of 2008, as previously announced.

OUTLOOK FOR FINANCIAL IMPACT OF NAVTEQ

Nokia expects NAVTEQ to be slightly dilutive to EPS in 2008, approximately neutral in 2009 and accretive thereafter, excluding purchase price accounting related items arising from the NAVTEQ acquisition. On a reported basis, Nokia expects NAVTEQ to be slightly dilutive to EPS in 2008, 2009 and 2010, and accretive thereafter. Nokia currently expects to recognize approximately EUR 2 billion of intangibles related primarily to the navigable map database and customer relationships. We expect these intangibles to be amortized over

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approximately five years. Net of deferred taxes, we expect the impact on our Consolidated Profit and Loss Account of the purchase price accounting related items arising from the NAVTEQ acquisition to be approximately EUR 250 million on an annual basis.

Q2 2008 FINANCIAL HIGHLIGHTS

(Comparisons are given to the second quarter 2007 results, unless otherwise indicated.)

Nokia Group

Nokia’s second quarter 2008 net sales increased 4% to EUR 13.2 billion, compared with EUR 12.6 billion in the second quarter 2007. At constant currency, group net sales would have increased 11% year on year and 7% sequentially.

The following chart sets out the year on year and sequential growth rates in our net sales on a reported basis and at constant currency for the periods indicated.

Note 1 to table relating to net sales figures at constant currency:

Change in net sales at constant currency excludes the impact of changes in exchange rates in comparison to the Euro, our reporting currency

Nokia’s second quarter 2008 reported operating profit decreased 38% to EUR 1.5 billion (including the EUR 460 million negative impact of special items), compared with EUR 2.4 billion in the second quarter 2007 (including the EUR 966 million net positive impact of special items). The special items for the second quarter 2008 included EUR 259 million of charges related to the closure of the Bochum site in Germany (impacting Devices & Services operating profit) and a restructuring charge and other one time items of EUR 201 million (impacting Nokia Siemens Networks operating profit). The special items for the second quarter 2007 included a EUR 1 879 million gain on the formation of Nokia Siemens Networks (impacting Group Common Functions operating result); EUR 905 million restructuring charges and other one-time items in Nokia Siemens Networks (impacting Nokia Siemens Networks operating profit); a EUR 15 million gain on sale of real estate (impacting Group Common Functions operating result); and EUR 23 million Nokia Siemens Networks related other costs (impacting Group Common Functions operating result). Nokia’s second quarter 2008 reported operating margin was 11.2% (18.7%), including the EUR 460 million negative impact of the special items. Excluding the special items, Nokia’s second quarter 2008 operating margin was 14.7% (11.1%).

Operating cash flow for the second quarter 2008 was EUR 1.5 billion, compared with EUR 1.5 billion for the second quarter 2007, and total combined cash and other liquid assets were EUR 8.0 billion at June 30, 2008, compared with EUR 11.8 billion at December 31, 2007. At June 30, 2008, our net debt-equity ratio (gearing) was -46%, compared with -61% at December 31, 2007.

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Devices & Services

In the second quarter 2008, the total mobile device volume of our Devices & Services group reached 122 million units, representing 21% year on year growth and a 6% sequential increase. The overall industry mobile device volume for the same period reached 303 million units based on Nokia’s estimate, representing 15% year on year growth and a 3% sequential increase.

Of the total industry mobile device volumes, converged mobile device industry volumes in the second quarter 2008 increased to 37.1 million units, based on Nokia’s estimate, compared with an estimated 27.0 million units in the second quarter 2007. Our own converged mobile device volumes rose to 15.3 million units in the second quarter 2008, compared with 13.9 million units in the second quarter 2007. We shipped over 10 million Nokia Nseries and almost 2 million Nokia Eseries devices during the second quarter 2008.

The following chart sets out our mobile device volumes for the periods indicated, as well as the year on year and sequential growth rates, by geographic area.

NOKIA MOBILE DEVICE VOLUME BY GEOGRAPHIC AREA

Based on our preliminary market estimate, Nokia’s market share for the second quarter 2008 was 40%, compared with 38% in the second quarter 2007 and 39% in the first quarter 2008. Our year on year market share increase was driven primarily by our strong position in the fastest growing markets globally and by strong share gains in Latin America, Asia-Pacific and a slight increase in North America. Our market share decreased year on year in Middle East & Africa, Greater China and Europe. We had sequential market share gains in North America, Europe, Middle East & Africa and Asia Pacific. Our market share decreased sequentially in Greater China and to a lesser extent in Latin America.

Our mobile device average selling price (ASP) in the second quarter 2008 was EUR 74, down from EUR 90 in the second quarter 2007 and down from EUR 79 in the first quarter 2008. The lower year on year and sequential ASP was primarily due to a higher proportion of lower priced products and the negative impact of the weaker US dollar. Approximately 30% of the year on year decline and approximately 40% of the sequential decline in ASP was caused by the impact of changes in exchange rates. Starting from the first quarter 2008, our mobile device ASP excludes net sales from our services and software business. Prior periods have been reclassified for comparison purposes.

Second quarter 2008 Devices & Services net sales declined 1% to EUR 9.1 billion, compared with EUR 9.2 billion in the second quarter 2007. At constant currency, Devices & Services net sales would have increased 6%. Strong overall volume growth was offset by an ASP decline, driven primarily by a higher proportion of lower end devices and the negative impact of the weaker US dollar on net sales in the second quarter 2008, compared to the second quarter 2007.

Net sales year on year growth was strongest in Latin America, followed by Asia-Pacific and Middle East & Africa. Net sales were down in Europe, North America and Greater China year on year. Of our total Devices & Services net sales, services and software net sales were EUR 119 million in the second quarter 2008, up from EUR 84 million in the first quarter 2008.

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Devices & Services gross profit decreased 3% to EUR 3.3 billion, compared with EUR 3.4 billion in the second quarter 2007, with a gross margin of 36.1% (36.7%). The year on year gross margin decrease was primarily due to a higher proportion of sales of lower end devices, a lower proportion of new high-end devices shipping in volumes, and a mix shift of sales to lower margin regions during the second quarter 2008.

Devices & Services reported operating profit decreased 12% to EUR 1.6 billion (including the negative impact of the EUR 259 million special item), compared with EUR 1.8 billion in the second quarter 2007, with a reported operating margin of 17.2% (19.4%). Second quarter 2008 reported operating profit included EUR 259 million of charges related to the closure of the Bochum site in Germany. The 3% year on year increase in operating profit for the second quarter 2008, excluding the special item, was driven primarily by effective operating expenses control partially offset by a decrease in gross margin, compared to the second quarter 2007. Excluding the special item, Devices & Services second quarter 2008 operating margin was 20.1% (19.4%).

Nokia Siemens Networks

Second quarter 2008 net sales increased 18% to EUR 4.1 billion, compared with EUR 3.4 billion in the second quarter 2007. At constant currency, Nokia Siemens Networks net sales would have increased 26%. Net sales year on year growth was strongest in Latin America, followed by Middle East & Africa, Greater China and Europe. Net sales were down in Asia-Pacific and North America. The higher year on year net sales primarily reflected the favorable comparison to the second quarter 2007, which was negatively impacted by challenges related to the start of operations of Nokia Siemens Networks, which commenced on April 1, 2007.

The following chart sets out Nokia Siemens Networks net sales for the periods indicated, as well as the year on year and sequential growth rates, by geographic area.

NOKIA SIEMENS NETWORKS NET SALES BY GEOGRAPHIC AREA

Nokia Siemens Networks gross profit increased 114% to EUR 1.1 billion, compared with EUR 534 million in the second quarter 2007, with a gross margin of 28.2% (15.5%). The increase in gross profit in the second quarter 2008 resulted primarily from the favorable comparison to the second quarter 2007, which had significant costs associated with restructuring charges, other special items and inventory value adjustments related to the start of operations of Nokia Siemens Networks.

Nokia Siemens Networks had a second quarter reported operating loss of EUR 47 million (including the negative impact of EUR 201 million in special items), compared with a reported operating loss of EUR 1.3 billion in the second quarter 2007 (including the negative impact of EUR 905 million in special items), with a reported operating margin of -1.2% (-36.8%). The reported second quarter 2008 operating loss included a restructuring charge and other one time items of EUR 201 million. The reported second quarter 2007 operating profit included a charge of EUR 905 million related to Nokia Siemens Networks restructuring costs and other one time charges. The operating margin for the second quarter 2008, excluding these special items, was 3.8% (-10.5%).

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The operating profit in the second quarter 2008, both reported and excluding special items, also included EUR 120 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks. Second quarter 2008 operating margin was a positive 6.7%, excluding both the special items and the purchase price accounting related items arising from the formation of Nokia Siemens Networks. The operating profit in the second quarter 2007, both reported and excluding special items, also included EUR 297 million of purchase price accounting related items arising from the formation of Nokia Siemens Networks (EUR 115 million) and inventory value adjustments (EUR 182 million). Second quarter 2007 operating margin was -2%, excluding both the special items, the purchase price accounting related items and the inventory value adjustments arising from the formation of Nokia Siemens Networks. The year on year improvement in operating profit, excluding both the special items, the purchase price accounting related items and the inventory value adjustments arising from the formation of Nokia Siemens Networks, reflected the higher net sales, improved gross margin and lower operating expenses. Nokia Siemens Networks continued to be on track to deliver the annual EUR 2 billion cost synergy target as previously announced.

Q2 2008 OPERATING HIGHLIGHTS

Nokia

·                  Nokia announced plans to acquire Symbian Limited, the UK based software company that develops and licenses Symbian OS, the leading converged device software.

·                  Nokia and nine other industry leaders announced plans to establish the Symbian Foundation to manage and unify the platform, to license it on a royalty-free basis and ultimately to make it available as an open source platform within two years. To date, more than 30 industry leading companies have announced their support for the initiative and intent to join.

·                  Nokia announced that it had completed its acquisition of Trolltech ASA, a recognized software provider with world-class software development platforms and frameworks.

Devices

·                  The Nokia E71 and Nokia E66, optimized for email, were announced in June. These devices support email accounts from more than 1,000 ISPs around the world, including Gmail, Yahoo! mail and Hotmail. Additionally, the Nokia E71 and Nokia E66 support corporate email solutions, including Microsoft Exchange, Nokia Intellisync Wireless Email solution, SYSTEM Seven and Visto Mobile email. The Nokia E71 also began shipping during the quarter.

·                  Two other key products, the Nokia N78 and Nokia 6220, also began shipping during the quarter.

·                  As part of our renewed strategy for North America, we announced the Nokia 6205 exclusively with Verizon in June. The Nokia 6205 is scheduled to begin shipping in July.

·                  In April, Nokia unveiled a new range of mobile devices specifically for entry markets, highlighted by the Nokia 5000, our first mega-pixel device priced at under EUR 100. All of these devices offer support for email.

·                  In June, Nokia unveiled our latest collection of style-driven devices, the Supernova collection. The flagship model of the collection, the Nokia 7610 Supernova, is available in a range of exchangeable color covers.

Services & Software

·                  Sony BMG Music Entertainment signed up to support Nokia Comes With Music, with the top three music labels – Universal Music Group International, Warner Music Group and Sony BMG Music Entertainment – now committed to this service concept.

·                  The Nokia Music Store opened in Australia, France, Italy, the Netherlands, Singapore and Sweden, bringing to 10 the total number of stores opened by the end of the second quarter.

·                  The N-Gage mobile games service became commercially available. The service allows consumers to try all N-Gage games for free from any one of the tens of millions of compatible Nokia devices in the market.

·                  Nokia Maps 2.0 – our next generation location based service – was released and downloaded over 406 000 times during the quarter.

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·                  Nokia announced the acquisition of Plazes AG, to help Nokia to accelerate its vision of bringing people and places closer together, in line with our broader services strategy.

Nokia Siemens Networks

·                  Nokia Siemens Networks signed a multi-year managed services network operations agreement with Embarq Corporation in the United States. Nokia Siemens Networks also won a consulting contract with China Mobile Group Beijing Ltd to improve the operator’s user experience.

·                  Nokia Siemens Networks demonstrated its Internet High Speed Packet Access (I-HSPA) solution with the world’s fastest data call using a mobile device in a test with Mobilkom Austria, in which data speeds reached 10.1 Mbps.

·                  Nokia Siemens Networks launched the industry’s first DWDM single optical platform serving Metro to Core and added internet access to its Village Connection solution.

·                  Nokia Siemens Networks won contracts with Celcom in Malaysia, Tusmobil in Slovenia, TIM in Brazil, Zain in Iraq, DTAC in Thailand and both Indosat and Telkomsel in Indonesia.

·                  Nokia Siemens Networks signed contracts for Mobile TV services with Swisscom (in partnership with Nokia) and SingTel in Singapore. It also signed a contract with T-Mobile Austria for its subscriber data management solution, which allows the operator to manage its customers’ experience more proactively.

·                  In May, a consortium led by Nokia Siemens Networks launched a commercial hosted mobile broadband service throughout Thalys’ high-speed European rail network. Nokia Siemens Networks also concluded deals with GSM-Railway in India and Europe.

For more information on the operating highlights mentioned above, please refer to related press announcements at the following links: http://www.nokia.com/press and http://www.nokiasiemensnetworks.com/press.

NOKIA IN THE SECOND QUARTER 2008

(International Financial Reporting Standards (IFRS) comparisons given to the second quarter 2007 results, unless otherwise indicated.)

As of January 1, 2008, our three mobile device business groups, Mobile Phones, Multimedia and Enterprise Solutions, and the supporting horizontal groups were replaced by an integrated business segment, Devices & Services. Prior period results for Nokia and its reportable segments have been regrouped for comparability purposes according to the new reportable segments (on an unaudited basis). Devices & Services has three business units, Devices, Services & Software and Markets, supported by a Corporate Development Office. Link to regrouped 2007 financials: www.nokia.com/investors.

Nokia’s net sales increased 4% to EUR 13 151 million (EUR 12 587 million). Net sales of Devices & Services decreased 1% to EUR 9 090 million (EUR 9 163 million). Net sales of Nokia Siemens Networks increased 18% to EUR 4 067 million (EUR 3 438 million).

Reported operating profit decreased 38% to EUR 1 474 million (EUR 2 359 million), representing a reported operating margin of 11.2% (18.7%). Reported operating profit in Devices & Services decreased 12% to EUR 1 565 million (EUR 1 779 million), representing a reported operating margin of 17.2% (19.4%). The reported operating loss in Nokia Siemens Networks was EUR 47 million (loss of EUR 1 266 million), representing an operating margin of -1.2% (-36.8%). Group Common Functions expenses totaled EUR 44 million (positive EUR 1 846 million).

Financial income was EUR 3 million (EUR 60 million). Reported Profit before tax and minority interests was EUR 1 477 million (EUR 2 446 million). Reported net profit totaled EUR 1 103 million (EUR 2 828 million). Reported earnings per share decreased to EUR 0.29 (basic) and to EUR 0.29 (diluted), compared to EUR 0.72 (basic) and EUR 0.72 (diluted) in the second quarter 2007. Earnings per share, excluding special items, increased to EUR 0.36 (diluted), compared to EUR 0.32 (diluted) in the second quarter 2007.

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NOKIA IN JANUARY - JUNE 2008

(International Financial Reporting Standards (IFRS) comparisons given to the January-June 2007 results, unless otherwise indicated.)

As of January 1, 2008, our three mobile device business groups, Mobile Phones, Multimedia and Enterprise Solutions, and the supporting horizontal groups were replaced by an integrated business segment, Devices & Services. Prior period results for Nokia and its reportable segments have been regrouped for comparability purposes according to the new reportable segments (on an unaudited basis). Devices & Services has three business units, Devices, Services & Software and Markets, supported by a Corporate Development Office. Link to regrouped 2007 financials: www.nokia.com/investors.

As of April 1, 2007, Nokia results include those of Nokia Siemens Networks on a fully consolidated basis. Nokia Siemens Networks, a company jointly owned by Nokia and Siemens, is comprised of the former Nokia Networks and Siemens’ carrier-related operations for fixed and mobile networks. Accordingly, the results of Nokia Group and Nokia Siemens Networks for periods from April 1, 2007 are not directly comparable to any prior period results. Prior periods include the former Nokia Networks business group only.

Nokia’s net sales increased 15% to EUR 25 811 million (EUR 22 443 million). Net sales of Devices & Services increased 6% to EUR 18 353 million (EUR 17 326 million). Net sales of Nokia Siemens Networks were EUR 7 468 million (EUR 5 135 million).

Reported operating profit decreased to EUR 3 005 million (EUR 3 631 million), representing a reported operating margin of 11.6% (16.2%). Reported operating profit in Devices & Services increased 14% to EUR 3 448 million (EUR 3 031 million), representing a reported operating margin of 18.8% (17.5%). Reported operating loss in Nokia Siemens Networks was EUR 121 million (EUR 1 188 million), representing a reported operating margin of -1.6% (-23.1%). Group Common Functions reported expenses totaled EUR 322 million (positive EUR 1 788 million, including a gain of EUR 1 879 million on the formation of Nokia Siemens Networks).

In the period from January to June 2008, net financial income was EUR 71 million (EUR 108 million). Reported profit before tax and minority interests was EUR 3 084 million (EUR 3 771 million). Reported net profit totaled EUR 2 325 million (EUR 3 807 million). Reported earnings per share decreased to EUR 0.61 (basic) and to EUR 0.61 (diluted), compared with EUR 0.97 (basic) and EUR 0.96 (diluted) in the first six months of 2007. Earnings per share, excluding special items, increased to EUR 0.74 EUR (diluted), compared to EUR 0.58 (diluted) in the first six months of 2007.

PERSONNEL

The average number of employees during January-June 2008 was 115 786. At June 30, 2008, we employed a total of 117 212 people (112 262 people at December 31, 2007).

SHARES

The total number of Nokia shares at June 30, 2008 was 3 800 415 410. At June 30, 2008, Nokia and its subsidiary companies owned 90 255 504 Nokia shares, representing approximately 2.4% of the total number of Nokia shares and the total voting rights.

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Q2 2008 BY REPORTABLE SEGMENT, EUR million

(unaudited)

Q2 2007 BY REPORTABLE SEGMENT, EUR million

(unaudited)

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NOKIA NET SALES BY GEOGRAPHIC AREA, EUR million

(unaudited)

NOKIA PERSONNEL BY GEOGRAPHIC AREA

(unaudited)

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CONSOLIDATED PROFIT AND LOSS ACCOUNT, IFRS, EUR million

(unaudited)

Q2 2008 special items:

· EUR 259 million charges related to closure of the Bochum site in Germany (impacting Devices & Services operating profit)

· EUR 201 million restructuring charge and other one time items (impacting Nokia Siemens Networks operating profit)

· Excluding the net impact of these special items, diluted EPS was EUR 0.36

Q2 2007 special items:

· EUR 1 879 million non-taxable gain on formation of Nokia Siemens Networks (impacting Group Common Functions operating result)

· EUR 905 million restructuring charges and other one-time items in Nokia Siemens Networks (impacting Nokia Siemens Networks operating result)

· EUR 15 million gain on sale of real estate (impacting Group Common Functions operating result)

· EUR 23 million Nokia Siemens Networks related other costs (impacting Group Common Functions operating result)

· Excluding the net impact of these special items, diluted EPS was EUR 0.32

Q1 2008 special items:

· EUR 217 million loss due to transfer of Finnish pension liabilities (impacting Group Common Functions)

· EUR 81 million facilities impairment and other charges related to closure of the Bochum site in Germany (impacting Devices & Services operating profit)

· EUR 65 million gain due to transfer of Finnish pension liabilities (impacting Nokia Siemens Networks operating profit)

· EUR 100 million restructuring charge (impacting Nokia Siemens Networks operating profit)

· Excluding the net impact of these special items, diluted EPS was EUR 0.38

In addition to the special items, Nokia Siemens Networks reported operating profit included the following:

· Q2 2008, EUR 120 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks. Excluding the impact of these items, in addition to the net impact of special items, diluted EPS was EUR 0.37.

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· Q2 2007, EUR 297 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks (EUR 115 million) and inventory value adjustments (EUR 182 million). Excluding the impact of these items, in addition to the net impact of special items, diluted EPS was EUR 0.35.

· Q1 2008, EUR 120 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks. Excluding the impact of these items, in addition to the net impact of special items, diluted EPS was EUR 0.39.

CONSOLIDATED BALANCE SHEET, IFRS, EUR million (unaudited)