Tag Archives: here

Toronto selects HERE for smart city and traffic mitigation initiative

Toronto-Subway-Train

HERE location technology enables Toronto to analyze traffic patterns and further establish the City’s data-driven approach to improving transportation network performance

HERE, the global leader in mapping and location services, is providing the City of Toronto with real-time and historical traffic data to support the city’s efforts to reduce road congestion and improve transportation services.

“Toronto is one of the fastest growing cities in North America, and as the population grows so does our effort to create a smarter traffic management system. We are pleased to have HERE on board to help Toronto’s citizens get around the city quickly, efficiently and safely,” said Barbara Gray, General Manager, Transportation Services, at the City of Toronto.

With HERE’s solution, which includes an analytic and reporting tool provided by Iteris, a global leader in applied informatics for transportation, the City of Toronto is developing a new understanding of transportation issues including the impact on traffic of weather conditions, construction works and infrastructure changes. Based on these observations, the city’s Big Data Innovation Team can manage the traffic in real-time and in a smart manner for the benefit of all Torontonians.

HERE’s extensive coverage creates visibility to speeds on every single road including arterial roads in the city centre. Not only do arterial roads represent a huge chunk of the road network and are therefore key to a smart network management strategy, their analysis is also complex. Many arterial roads, for example, must accommodate a wide range of users, such as pedestrians, bicycles and cars, with different needs.

“We are excited to work with the City of Toronto to turn big data into smart insights that can help alleviate congestion, enable safe road networks and reduce pollution,” said Monali Shah, Director of Intelligent Transportation Solutions at HERE.

In North America and globally HERE serves as a vital partner to smart cities and the broader public sector, helping them make decisions that improve the quality of life for citizens. For example, HERE supplies traffic information to several Department of Transportations across the United States, including Alabama, California, Connecticut, Florida, Georgia, Louisiana, Maryland, Michigan, Missouri, New Jersey, Ohio and New York, and is also supporting intelligent transportation initiatives in Colorado, Iowa and Michigan.

Source: HERE

HERE launches Mobility On-Demand, a powerful toolkit for developers building ride-hailing and food delivery apps

here

 HERE have launched HERE Mobility On-Demand, a powerful and flexible toolkit for on-demand app developers, enabling them to build location-centric features into their apps and go to market quickly.

HERE Mobility On-Demand is priced and packaged specifically for on-demand companies, supporting a full range of services such as ride-hailing, carpooling, food delivery, package delivery and professional services.

The toolkit includes high quality mapping, addressing, traffic-aware routing, analytics and visualization capabilities to help developers quickly build apps their users, drivers and agents will love and trust. It also offers a simple pay-per-order pricing plan that depends only on the number of orders booked, making it an ideal option for start-ups and large organizations alike.

Leon van de Pas, Head of Internet of Things at HERE, said: “Congestion, roadworks and bad addressing are a constant headache for companies operating in a complex market where every single minute makes a difference. Our new toolkit brings together a set of advanced location capabilities to help developers address these challenges and make their app stand above the rest.”

The HERE Mobility On-Demand toolkit supports end-to-end-development and includes HERE Geocoder, HERE Isoline Routing, HERE Matrix Routing and HERE Mobile SDK.

Developers may choose to build their own custom navigation using HERE’s software development kit to offer an enhanced brand experience, or they can deeplink their mobile app to HERE’s own urban mobility app HERE WeGo and go to market quickly.

Apps built using the toolkit will render a consistent map experience across screens and users, facilitate precise pick-up and drop-off locations with proximity alerts, provide traffic-enabled navigation and pedestrian guidance and support up-to-date estimated times of arrival.

HERE Mobility On-Demand has already been deployed by a number of leading on-demand service providers in different parts of the world.

For example, Grab, Southeast Asia’s leading ride-hailing platform, worked with HERE to further streamline its backend dispatch system and make its passenger and driver apps work seamlessly. By using the HERE Matrix API, Grab has been able to optimize the way drivers are assigned to passengers, making the process more efficient. Grab also uses the HERE Basic Routing API, enabling it to provide more reliable ETAs to passengers.

Volt, a popular on-demand peer-to-peer urban ride sharing app in Istanbul, Turkey, worked with HERE to empower their drivers with in-app turn-by- turn navigation, live traffic and optimal routing to their destination. Volt connects car owners that have empty seats with passengers looking for a lift in the same direction. The company aims to help reduce traffic congestion in Istanbul by connecting urban commuters in real-time.

Localift, an Australian founded friend-to-friend ridesharing startup, worked with HERE to enable the new app’s location capabilities, including routing journeys in real-time between lift organizers and lift requesters, providing turn-by-turn navigation and lift tracking visibility among family, friends and colleagues. With millions of free local lifts occurring every day, Localift makes it easier for groups to organize pick-ups and drop-offs using HERE’s extensive Places of Interest database ranging from local sporting fields and workplaces to restaurants and schools.

More information about HERE Mobility On-Demand can be found here: https://here.com/en/products-services/services/here-mobility-demand

Source: Here

Automotive companies move forward on car-to-cloud data standard

here

connected car

Berlin, Germany – HERE, the location cloud company, have announced a significant step forward in efforts to drive a global standard for vehicle-to-cloud data – a development which in turn brings the promise of automated vehicles closer to reality.

 

Following successful months-long discussions with international automotive and mapping companies in Europe, the U.S. and Asia, HERE has now submitted the design for a universal data format called SENSORIS to ERTICO – ITS Europe, the European public/private partnership for intelligent transport systems, which has agreed to continue as an Innovation Platform to evolve it into a standardized interface specification for use broadly across the automotive industry.

 

To date, more than 10 major automotive and supplier companies have already joined the SENSORIS Innovation Platform now under the coordination of ERTICO, including AISIN AW, Robert Bosch, Continental, Daimler, Elektrobit, HARMAN, HERE, NavInfo, PIONEER and TomTom. More organizations are expected to join in the coming weeks.

SENSORIS was initiated by HERE in June 2015 when the company published the first open specification for how vehicle sensor data gathered by connected cars could be sent to the cloud for processing and analysis. Currently, vehicle sensor data exists in multiple different formats across automakers.

HERE believes that pooling analogous vehicle data from millions of vehicles will be a key enabler for highly and fully automated driving, ensuring that each vehicle has a near real-time view of road conditions and hazards that can lead to better driving decisions. HERE is developing the required location cloud technology that can detect and process changes in the real world as they happen – including on roads in dozens of countries – on an industrial scale and at high quality. HERE is putting this infrastructure in place ahead of anticipated new streams of vehicle sensor data it will be processing in its location platform in future.

“Our goal was always to find a home for this specification that is open, accessible to all and global. This is a vital step along the path to creating a shared information network for safer roads,” said Dietmar Rabel, head of autonomous driving product management at HERE. “If a car around the next corner hits the brakes because there’s an obstruction, that information could be used to signal to the drivers behind to slow down ahead of time, resulting in smoother, more efficient journeys and a lower risk of accidents. But that can only work if all cars can speak and understand the same language.”

Hermann Meyer, Chief Executive Officer at ERTICO, said: “Defining a standardised interface for exchanging information between the in-vehicle sensors and a dedicated cloud as well as between clouds will enable broad access, delivery and processing of vehicle sensor data; enable easy exchange of vehicle sensor data between all players, and finally enable enriched location based services which are key for mobility services as well as for automated driving.”

“Standardized vehicle data exchange will enable the crowdsourcing paradigm to spread across the fragmented automotive ecosystem, leveraging the synergies between connectivity and sensor data to provide smart mobility services such as real-time traffic, weather and parking spaces in the short term while holding the promise to power self-driving cars with critical high accuracy real-time mapping capabilities in the future,” said Dominique Bonte, Managing Director and Vice President, B2B ABI Research.

 

ERTICO – ITS Europe is a body which has a long track record of successfully overseeing the development of globally-adopted standards relating to future automotive and transportation technologies. This includes in particular ADASIS (Advanced Driver Assistance Systems Interface Specifications), a forum that defines how maps connect and interact with the advanced driver assistance systems of a car. ADASIS was originally borne out of technology patented by HERE in 1999 called ‘Electronic Horizon’, which enables a vehicle to, for example, adapt cruise control or be more fuel efficient based on road attributes included in a map, such as the slope and curvature of the road, traffic signs and lane information.

Source: Here

Japan’s Government team up with Car Makers to develop Intelligent Mapping

Japan Government, Toyota, Nissan to Work Together on Intelligent MapsJapan Government, Toyota, Nissan to Work Together on Intelligent MapsCar-GPS-Navigator
Japan’s government will reportedly team up with the country’s carmakers, including Toyota and Nissan, to develop intelligent maps in the country by 2018, a technology key for autonomous driving.

 

  • Driven by competition to improve the technology for autonomous driving
  • Plans to incorporate driving data gathered by the automakers
  • Such systems supply information to control self-driving cars

 

According to the Nikkei Daily, Japan is working towards generating standardised intelligent maps, incorporated with driver data, and will see the country’s automakers, map making companies and the government collaborate on the project.

Intelligent mapping systems provide the essential information required to control self-driving cars, and also provide technology to share location data with other map users.

HERE
The news in Japan follows a report at the end of last week linking German auto supplier Bosch with taking a potential stake in mapping business HERE, as interest in the business formerly developed by Nokia continues to hot up.

Reuters reports the company is in talks with BMW, Daimler and Volkswagen, the consortium that bought HERE last year from the Finnish vendor for €2.8 billion, about taking a stake, while the talks are also designed to ensure that Bosch can continue to offer services to HERE customers.

Amazon, Microsoft, car maker Renault and auto supplier Continental have also reportedly been in talks about taking a stake in HERE.

Source: Mobile World Live/Co-Star

RAC to use telematics data to predict breakdowns

RAC breakdown van

Breakdown service will mix tech with its diagnostics data to predict when cars will develop faults

A crystal ball advanced warning system currently under development will be able to alert you of a breakdown before it happens. The RAC is working on a service to combine telematics with historical breakdown data to predict the most likely faults with cars and advise drivers before they cause a problem.

The predictive technology is around a year away according to Nick Walker, managing director of RAC Telematics, and would use the firm’s extensive records to identify issues early on.

“We’re getting to the point where we’re able to predict faults,” said Walker. “We can warn people, for example, when a diesel particulate filter is about to clog.”

The RAC attends nearly 2.5 million roadside breakdowns per year and has a database going back years with tens of millions of records. Walker added: “Our data tells you the top three things likely to go wrong with a vehicle type, make and model of a certain year and mileage. We’re normally right because we see it all the time.

“If you add the ability to electronically diagnose and look for fault codes, which we do with every breakdown, then feed it with live telematics data and diagnostic codes, all of a sudden you’re able to extract from that level of history what’s likely to happen to that vehicle over time.”

This month, rival breakdown giant the AA launched a similar service known as Intelematics Europe, which can remotely diagnose the cause of a breakdown before a recovery vehicle arrives.

This style of predictive data tech the RAC is working on is already up and running in areas such as traffic and route planning, and is set to increase as connected cars grow in popularity. Mapping company HERE uses similar data to shorten route times.

Source: Autoexpress

HERE unveils first lane-level traffic reports

here logo

HERE has developed  a new algorithm to identify fast and slow-moving lanes on the same road, providing better information for drivers on road conditions ahead and the fastest route to use.Split-lane-1

How much traffic congestion is on the road ahead? The answer is often ‘it depends’. The traffic that’s trying to turn off at the next junction might be backed up bumper-to-bumper, while the cars that are going past it on the inner lane are whizzing along. Or maybe it’s the other way round.

Because it’s hard to identify the specific lanes that cars are travelling on from current GPS signals, it’s therefore tricky for traffic reporting systems to identify situations like the above. Instead, you get an average speed of both the backed-up traffic and the freely moving vehicles.

split-lane-2

That’s not ideal for route planning – and might lead you to avoid a more direct route that’s actually faster than the average road speed suggests – because the traffic conditions are different for each lane.

HERE took this chronic problem head on and created a novel solution: Split Lane Traffic Reporting at Junctions. SLT Reporting at Junctions is based on an innovative and proprietary new algorithm by HERE described in our latest white paper. The algorithm solves the fundamental problem of reporting two different traffic speeds on a single road segment.

split-lane-3

To create the white paper and service HERE scanned its maps for major junctions and highway splits around the world, where there might be heavily congested traffic in one lane, and freely moving traffic in another. It turned out that there are over 100,000 such highway junctions worldwide. Then we rated each of these junctions according to how frequently there were significant differences in the speeds for each lane.

The solution identifies when there are very different traffic speeds being recorded around these junctions. It decides whether each of these probes belongs to the backed-up lane or the faster-moving lane, splitting the recorded speed for the road accordingly. SLT reports can show three speed profiles: free-flowing traffic, slow moving lanes, and congestion.

split-lane-4

“For the first time Split Lane Traffic Reporting creates the information necessary for a driver to know the road conditions in front of them down to the lane level. This is a solution tailored for all of us who’ve had to play the game of guessing which lane is the fastest to be in while stuck in traffic at a highway junction,” said Tony Belkin, Director of Traffic and Dynamic Content for HERE. “Split Lane Traffic Reporting at Junctions is the latest example of the innovative, quality driven and solutions based approach we take at HERE.”

Split Lane Traffic Reporting information will be automatically fed into the HEREReal Time Traffic service to provide better intelligence for drivers and for our routing software. Split Lane Traffic Reporting serves as an important example of the first-to-market products HERE delivers in support of not only today’s driver setting, but the increasing use of highly automated driving assistance systems.

split-lane-5

As more cars are able to take advantage of this information, and are guided byhighly-automated systems, we anticipate that overall traffic congestion itself will be reduced, together with the costs, wasted time, extra emissions and frustration that comes with these situations.

Source: Here

Image credit: Chatchai Kritsetsakul

HERE convenes industry forum to discuss vehicle sensor data transmission specifications

here logo

 

Participants agree common interface format is critical next step for autonomous vehicle development

 

Berlin, Germany – HERE, a leader in mapping, navigation and location experiences, recently brought together a diverse group of automotive companies, system vendors and suppliers to discuss the establishment of an interface format for how in-vehicle sensor data is transmitted to a location cloud. Modern vehicles collect vast sums of information on road and traffic conditions through onboard sensors, all of which can be utilized to improve the safety and experience of nearby drivers, such as real-time map updates and alerts on traffic or hazardous conditions ahead. If vehicles transmit sensor data in different formats, however, the ability for a cloud to efficiently aggregate and analyze the data at scale is lost and benefits to the driver become less realized.

During the forum held at HERE in Berlin, Germany, participants representing 16 companies agreed the industry must define a format in which vehicle sensor data is ingested by a location cloud. Additionally, participants discussed a range of technical issues, including data content, security, anonymization, and transmission accuracy and efficiency based on the ingestion interface specification recently published by HERE.

“The ability to transmit in real-time sensor data across different vehicles on the road requires deep industrywide collaboration,” said Dietmar Rabel, head of product management for the automated driving program at HERE. “But when we do, the result should be fewer accidents and more efficient journeys, as well as moving the industry closer to its aspiration for cars that can fully understand their environment and drive themselves.”

A recent forecast by automotive technology research firm SBD predicts that, by 2020, over 30 million vehicles will be sold annually with built-in connectivity, generating more than 163 million terabytes of data each year via their dozens of on-board cameras and sensor technologies.
“As more connected vehicles come to market, Continental looks forward to participating in the industry’s effort to define how vehicle sensor data gets transmitted and processed. This is important for Continental’s eHorizon project where we merge data from different car makers in a backend. The discussions at this forum were incredibly robust, key issues to address were identified – such as how to transmit accurate sensor information given that every OEM will have different sensors on board – and I believe we now have a solid foundation for our work ahead,” said Ronald Hain, head of back-end development team at Continental who participated in the forum.

The creation of a common specification for in-vehicle sensor data is prerequisite to an industry standard, following a similar approach taken by HERE and its industry peers to usher in ADAS Interface Specification. In the upcoming weeks and months HERE will re-engage industry peers across the globe to establish a formal working group on sensor ingestion standardization.

To read an interview with Continental’s Ronald Hain please visit this link. To learn more about HERE, along with detailed information on our recently published sensor data ingestion interface specification, visit 360.here.com.

About HERE

HERE, a Nokia company, is a leader in navigation, mapping and location experiences. We build high-definition (HD) maps and combine them with cloud technology to enable rich, real-time location experiences in a broad range of connected devices – from smartphones and tablets to wearables and vehicles. To learn more about HERE, including our work in the areas of connected and autonomous driving, visit http://360.here.com.

Source: Here

 

 

 

Nokia to sell Devices & Services business to Microsoft in EUR 5.44 billion all-cash transaction

Nokia to sell Devices & Services business to Microsoft in EUR 5.44 billion all-cash transaction

  

Nokia Corporation
Stock Exchange Release
September 3, 2013 at 06.00 (CET +1)

  • Transaction expected to be significantly accretive to Nokia earnings.
  • Nokia continues to develop, and sees significant value in, advanced technologies, its patent portfolio and Nokia brand.
  • Nokia focusing on NSN, HERE and Advanced Technologies post-transaction. Each business a leading player in its respective segment.
  • Nokia outlines changes to leadership and Board of Directors.

ESPOO, Finland – Nokia Corporation today announced that it has signed an agreement to enter into a transaction whereby Nokia will sell substantially all of its Devices & Services business and licence its patents to Microsoft for EUR 5.44 billion in cash, payable at closing. Nokia expects to book a gain on sale of approximately EUR 3.2 billion, and expects the transaction to be significantly accretive to earnings.

The transaction is expected to close in the first quarter of 2014, subject to approval by Nokia shareholders, regulatory approvals and other customary closing conditions.

Following the transaction, Nokia plans to focus on its three established businesses, each of which is a leader in enabling mobility in its respective market segment: NSN, a leader in network infrastructure and services; HERE, a leader in mapping and location services; and Advanced Technologies, a leader in technology development and licensing. At closing, this transaction is expected to strengthen Nokia’s financial position and provide a solid basis for future investment in these three businesses.

 “After a thorough assessment of how to maximize shareholder value, including consideration of a variety of alternatives, we believe this transaction is the best path forward for Nokia and its shareholders,” said Risto Siilasmaa, Chairman of the Nokia Board of Directors and, following today’s announcement, also Nokia interim CEO.

Deal Terms

Subject to the closing of the transaction, Microsoft will acquire substantially all of Nokia’s Devices & Services business, including the Mobile Phones and Smart Devices business units as well as an industry-leading design team, operations including all Nokia Devices & Services production facilities, Devices & Services-related sales and marketing activities, and related support functions. At closing, approximately 32,000 people are expected to transfer to Microsoft, including approximately 4,700 people in Finland. Nokia’s CTO (Chief Technology Office) organization and patent portfolio will remain within the Nokia Group. The operations that are planned to be transferred to Microsoft generated an estimated EUR 14.9 billion, or almost 50%, of Nokia’s net sales for the full year 2012.

As part of the transaction, Nokia will grant Microsoft a 10 year non-exclusive license to its patents as of the time of the closing, and Microsoft will grant Nokia reciprocal rights related to HERE services. In addition, Nokia will grant Microsoft an option to extend this mutual patent agreement to perpetuity. Of the total purchase price of EUR 5.44 billion, EUR 3.79 billion relates to the purchase of substantially all of the Devices & Services business, and EUR 1.65 billion relates to the mutual patent agreement and future option.

Additionally, Microsoft will become a strategic licensee of the HERE platform, and will separately pay Nokia for a four year license. This revenue stream is expected to substantially replace the revenue stream HERE is currently receiving from Nokia’s Devices & Services business internally. If the transaction closes Microsoft is expected to become one of the top three customers of HERE.

Microsoft has agreed to make immediately available to Nokia EUR 1.5 billion of financing in the form of three EUR 500 million tranches of convertible bonds to be issued by Nokia maturing in 5, 6 and 7 years respectively. It is at Nokia’s discretion if it chooses to draw down all or some of these tranches. The financing is not conditional on the transaction closing. If the transaction closes, any outstanding bonds will be redeemed and netted against the deal proceeds by the amount of principal and accrued interest.

The following are the key terms of the three tranches of bonds Nokia may choose to issue:

  • The first tranche matures in 5 years and has a 1.125% per annum coupon payable semi-annually with an initial conversion price of EUR 3.9338.
  • The second tranche matures in 6 years and has a 2.5% per annum coupon payable semi-annually with an initial conversion price of EUR 4.0851.
  • The third tranche matures in 7 years and has a 3.625% per annum coupon payable semi-annually with an initial conversion price of EUR 4.2364.

             
The Board of Directors of Nokia will separately assess whether to draw down some or all of this financing. If Nokia would decide to utilize this financing option, the earliest that Microsoft could convert any of these bonds to shares is two years from draw down.

Microsoft has agreed to a 10 year license arrangement with Nokia to use the Nokia brand on current Mobile Phones products. Nokia will continue to own and maintain the Nokia brand.  Under the terms of the transaction, Microsoft has agreed to a 10 year license arrangement with Nokia to use the Nokia brand on current and subsequently developed products based on the Series 30 and Series 40 operating systems.  Upon the closing of the transaction, Nokia would be restricted from licensing the Nokia brand for use in connection with mobile device sales for 30 months and from using the Nokia brand on Nokia’s own mobile devices until December 31, 2015.

The transaction is subject to potential purchase price adjustments, protecting both Nokia and Microsoft, and a USD 750 million termination fee payable by Microsoft to Nokia in the event that the transaction fails to receive necessary regulatory clearances.

Building Nokia’s next chapter

Following the transaction, Nokia plans to focus on its three established businesses, each of which is a leader in enabling mobility in its respective market segment: NSN, a leader in network infrastructure and services; HERE, a leader in mapping and location services; and Advanced Technologies, a leader in technology development and licensing.

Nokia will retain its headquarters in Finland. Excluding the approximately 32,000 people planned to transfer to Microsoft, Nokia would have employed approximately 56,000 people at the end of the second quarter 2013.

“Today is an important moment of change and reinvention for Nokia and its employees,” said Nokia Chairman and interim CEO Mr. Siilasmaa. “With our strong corporate identity, leading assets and talent, and from a position of renewed financial strength, we will build Nokia’s next chapter.”

NSN, a wholly-owned business of Nokia since August 2013, is a leader in mobile broadband, and is focused on operating at the forefront of each generation of mobile technology, including pushing the boundaries of connecting people through LTE and future technologies. Nokia continues to manage NSN as a strong, independent entity.

HERE will continue to focus on growing its industry-leading position through a broad location offering across mobile devices, connected devices, enterprise solutions and the automotive environment. HERE will continue to execute its strategy to become the leading independent location cloud platform company, offering mapping and location services across different screens and operating systems.

Our Advanced Technologies business will build on several of Nokia’s current CTO and Intellectual Property Rights activities.Advanced Technologies will explore new business opportunities through advanced research, development and concept products in areas such as connectivity, sensing and material technologies, as well as web and cloud technologies. At the same time, Advanced Technologies plans to continue to build Nokia’s patent portfolio from this innovation and targets to expand its industry-leading technology licensing program, spanning technologies that enable mobility today and tomorrow.

“Following this transaction, Nokia’s financial situation is expected to be significantly stronger and its earnings profile significantly improved,” said Nokia CFO and interim President Timo Ihamuotila. “We will have three well-positioned businesses, each a leader in its market. Overall, we will continue to focus on managing and maximizing the assets of Nokia Group prudently and pragmatically to create value for Nokia shareholders.”

Historical pro forma information and strategic evaluation

This transaction is expected to be significantly accretive to Nokia earnings. In the first half 2013, Nokia Group net sales were EUR 11.5 billion and non-IFRS operating margin was 4.2%. On a pro forma basis assuming this transaction would have closed, Nokia Group net sales would have been EUR 6.3 billion and non-IFRS operating margin would have been 12.1% in the first half 2013.

PREVIOUSLY PUBLISHED AND PRO FORMA INFORMATION
  Nokia
GROUP

as previously published
Continuing Operations
pro forma
Nokia
GROUP

as previously published
Continuing
 Operations
pro forma
  Non-IFRS Reported Non-IFRS Reported Non-IFRS Reported Non-IFRS Reported
  1-6 2013 1-6 2013 1-6 2013 1-6 2013 1-12 2012 1-12 2012 1-12 2012 1-12 2012
Net sales
(EUR billions)
11.5 11.5 6.3 6.2 30.3 30.3 15.3 15.3
Operating profit (%) 4.2 -2.3 12.1 0.8 0.4 -7.6 8.5 -4.0

1) The pro forma net sales for continuing operations have been calculated by deducting the Mobile Phones and Smart Devices business units net sales and spare parts net sales from the Nokia Group net sales.
2) Additionally, continuing operations pro forma net sales have been adjusted to reflect the HERE platform license agreement under which Microsoft will separately pay Nokia, as if the transaction had closed on January 1, 2012.
3) The pro forma operating profit % has been calculated by deducting the Mobile Phones and Smart Devices business units costs from the Nokia group costs as well as by making certain cost adjustments between the transferring business and continuing operations to reflect the scope of the transaction.
4) The above figures reflect the retrospective application of IAS 19R, Employee benefits, as published in our 2013 interim reports.

The transaction is also expected to significantly strengthen Nokia’s financial position and Nokia targets to return to being an investment grade company. If this transaction as well as Nokia’s acquisition of 50% of NSN would have closed before the end of the second quarter 2013, Nokia would have ended the quarter with gross cash of EUR 14.9 billion and net cash of EUR 7.8 billion, excluding transaction related expenses and taxes. Assuming repayment of financing facilities related to the NSN acquisition as well as Nokia’s debt facilities of EUR 1.8 billion maturing before the end of the first quarter 2014, Nokia would have ended the second quarter 2013 with gross cash of EUR 11.4 billion and net cash of EUR 7.8 billion, excluding transaction related expenses and taxes. This compares to reported gross cash of EUR 9.5 billion and net cash of EUR 4.1 billion at the end of the second quarter 2013.

Nokia’s Board of Directors is conducting a strategy evaluation for Nokia Group between signing and closing of the transaction. This evaluation will comprise of evaluations of strategies for each of Nokia’s three businesses and possible synergies between them, as well as an evaluation of the optimal corporate and capital structure for Nokia after the closing of the transaction. After this evaluation is complete, deemed excess capital is planned to be distributed to shareholders.

Nokia expects to book a gain on sale of approximately EUR 3.2 billion from the transaction, excluding any potential tax implications, gains or losses related to currency translation differences triggered by the transaction. In connection with the transaction, Nokia will be required to evaluate whether the impact of the sale on future cash flows or operating results requires changes in the carrying values of any of its remaining assets or liabilities. This evaluation will include, among other things, a review of existing goodwill balances for impairment and the potential recoverability of deferred tax assets currently subject to valuation allowance.  Additional assets and liabilities may require adjustment upon completion of our review.

Nokia Leadership

Nokia today announced changes to its leadership as a result of the proposed transaction. These changes, which are effective immediately, are designed to provide an appropriate corporate governance structure during the interim period following the announcement of this transaction.

The Nokia Leadership Team will continue to consist of the current members, but with changes in positions and reporting lines as outlined below.

Risto Siilasmaa will assume an interim CEO role for Nokia while continuing to serve in his role as Chairman of the Nokia Board of Directors. As part of his interim CEO role, Mr. Siilasmaa will, among other tasks, oversee strategy and have four direct reports: Michael Halbherr, Executive Vice President, HERE; Stephen Elop, Executive Vice President, Devices & Services; Timo Ihamuotila, Nokia CFO and interim President; and Jesper Ovesen, Executive Chairman of the NSN Board of Directors.

To avoid the perception of any potential conflict of interest between now and the pending closure of the transaction, Stephen Elop will step aside as President and CEO of Nokia Corporation, resign from the Board of Directors, and will become Executive Vice President, Devices & Services. The following Nokia Leadership Team members will report to Mr. Elop: Marko Ahtisaari, Executive Vice President, Design; Jo Harlow, Executive Vice President, Smart Devices; Juha Putkiranta, Executive Vice President, Operations; Timo Toikkanen, Executive Vice President, Mobile Phones; and Chris Weber, Executive Vice President, Sales and Marketing.

Timo Ihamuotila becomes President of Nokia for the interim period while also continuing to serve as CFO. Mr. Ihamuotila will assume the responsibility of chairing the Nokia Leadership Team. The following Nokia Leadership Team members will report to Mr. Ihamuotila: Louise Pentland, Executive Vice President and Chief Legal Officer; Henry Tirri, Executive Vice President and Chief Technology Officer; Juha Äkräs, Executive Vice President, Human Resources; and Kai Öistämö, Executive Vice President, Corporate Development.
             
We expect that Mr. Elop, Ms. Harlow, Mr. Putkiranta, Mr. Toikkanen, and Mr. Weber would transfer to Microsoft at the anticipated closing.

Mr. Ahtisaari has decided to again pursue entrepreneurial opportunities. He will step down from the Nokia Leadership Team and his position as Executive Vice President, Design, effective as from November 1, 2013. He will continue to work on activities related to the transaction through November 30, 2013. Effective November 1, 2013 Stefan Pannenbecker will start leading Design, reporting to Mr. Elop.

This announcement does not change the current leadership for Nokia Solutions and Networks. Rajeev Suri will continue to serve as CEO, NSN, reporting to NSN’s Board which continues to be chaired by Jesper Ovesen who continues to serve as NSN’s Executive Chairman and reports to Mr. Siilasmaa.

Nokia Board of Directors

To avoid the perception of any potential conflict of interest between now and the pending closure of the transaction, Stephen Elop will resign from the Nokia Board of Directors effective today. The Nokia Board currently consists of the following nine members: Risto Siilasmaa, Chairman; Jouko Karvinen, Vice Chairman; Bruce Brown; Elizabeth Doherty; Henning Kagermann; Helge Lund; Mårten Mickos; Elizabeth Nelson and Kari Stadigh. As a result of Mr. Siilasmaa assuming the interim CEO role, and in line with good corporate governance, Mr. Siilasmaa will no longer be a member and Chairman of the Corporate Governance & Nomination Committee. The Corporate Governance and Nomination Committee currently consists of the following three members:  Mr. Kagermann, Mr. Karvinen and Mr. Lund. The Board elected Mr. Karvinen as the Chairman of the Corporate Governance & Nomination Committee. The composition of the Personnel Committee and the Audit Committee remain unchanged.

Extraordinary shareholders meeting and Nokia Board recommendation

Under the terms of the agreement, the closing of the transaction will be subject to approval by Nokia shareholders. Nokia plans to hold an Extraordinary General Meeting on November 19, 2013 and to publish a notice of the meeting and make available more information on the transaction and its background later this month. Having thoroughly analysed the transaction and other alternatives available, the Board of Directors decided to enter into the transaction and recommends that Nokia shareholders vote to confirm and approve the sale of substantially all of the Devices & Services business to Microsoft at the Extraordinary General Meeting.

Investor Conference Call

Today, Nokia executives will hold an investor call at 3.00pm Finnish time. A live webcast of the conference call will be available at http://investors.nokia.com. Media representatives can view the webcast or listen in at +1 706 634 5012, conference ID 45390451.

Press Conference

Nokia will host a press conference today on Tuesday at 11.00 a.m. EET in Dipoli, Espoo (Otakaari 24). Registration will start at 10 a.m., and the doors will open at 10.40 a.m. Due to space constraints, only media who show valid press credentials at the registration will be admitted. Media are encouraged to watch a live webcast of the press conference via: http://press.nokia.com.

Source: Nokia Communications Press Release

Nokia to enter the Telematics market with ‘Here’ connected drive system

 
Espoo, Finland – HERE, a Nokia business, today announced a complete Connected Driving offer, the only end-to-end driving solution on the market today, which will help car makers and in-vehicle technology suppliers connect the car and the driver to the cloud.

The offering includes HERE Auto, HERE Auto Cloud, and HERE Auto Companion. In addition, HERE has radically improved its Traffic product, HERE Traffic, by building a new system to process data even faster and more accurately than before. The HERE Connected Driving offering will be demonstrated at the International Motor Show in Frankfurt, Germany starting on September 10.

Technology is rapidly transforming driving, with connectivity bringing the outside world to the car and the sensor revolution creating new possibilities for the automobile industry. People today demand that cars become integrated into their ecosystem of connected devices with the same level of innovation they see in their personal devices.

HERE Connected Driving offers a full range of automotive products and services that builds on our high-quality and fresh map to go beyond navigation. The customizable offering is a fully flexible framework that allows automakers to differentiate the driving experience. It will help them solve the problems that drivers face every day such as synching routes and other personal information across their car and devices and finding the right parking spot or closest gas station.

HERE Auto is the first embedded in-car navigation experience that delivers the right map at the right moment with and without a data connection. Drivers can get turn by turn voice guided navigation in 95 countries and 2D, 3D and satellite map views including street level imagery. In the future, car makers will be able to easily extend the HERE Auto experience using a software development kit (SDK) to create entertainment and other applications, such as in the areas of music and social networking. HERE Auto is already integrated in Continental’s next generation Open Infotainment Platform. HERE is also working with partners such as Magneti Marelli and others to bring HERE Auto to the market in the coming months.

HERE Auto Cloud provides drivers with always-on access to several dynamic services such as real-time traffic updates, helping drivers avoid congested areas, road closures or blockages that occur en route. Drivers can also get recommendations on places to eat, parking spots, information on where to charge an electric vehicle or where to find the most inexpensive fuel.

HERE Auto Companion, a customizable mobile and web application, keeps drivers connected outside of the car allowing them to synchronize their favorite places and routes across their devices so that they won’t need to re-enter their route when they get in the driver’s seat. Car makers can tap assets from the existing HERE suite such as walking navigation, public transit routes and even indoor venue maps to build custom mobile applications. Drivers could use the app to remotely find their car with their device using LiveSight augmented reality technology and check the car’s vital stats such as fuel levels and tire pressure.

HERE Traffic has been radically improved by “Halo,” our new engine that processes data quickly and accurately. Every month we’re collecting ever greater numbers of high-quality data, such as probe points and sensor information to deliver real-time information such as weather, traffic congestion, road construction and other factors that affect a drive. With our new Traffic product drivers get improved travel time estimates, so they can better plan their routes and quickly re-route on the go.

“By 2016, the majority of consumers in mature markets will consider in-vehicle web-based data access a key criterion in their automotive purchase,” said Thilo Koslowski, VP of Automotive at Gartner. “Successful connected vehicle solutions will add value to the connected driver’s digital lifestyle and enable integrated cross-device experiences relevant for people everyday.”

For more information about HERE Auto, please visit our blog: http://conversations.nokia.com/?p=134388

About HERE and Nokia
HERE, a Nokia business, offers the world’s best maps and location experiences across multiple screens and operating systems. HERE inspires a new generation of location services and devices helping more people to navigate their lives with ease and confidence. Built on more than 25 years of experience in cartography and drawing on more than 80,000 sources of data, HERE offers “Maps for Life” for more than 190 countries, voice guided navigation in 95 countries in more than 50 languages and live traffic information for 34 countries. To learn more about HERE, visit http://blog.here.com

Nokia is a global leader in mobile communications whose products have become an integral part of the lives of people around the world. Every day, more than 1.3 billion people use their Nokia to capture and share experiences, access information, find their way or simply to speak to one another. Nokia’s technological and design innovations have made its brand one of the most recognized in the world. For more information, visit http://www.nokia.com/about-nokia.

Source: Nokia