HELSINKI -- Nokia Annual General Meeting, Helsinki, Finland - Speaking today at Nokia's AGM, company Chairman and CEO Jorma Ollila traced the rapid rise of mobile communications and described the nature of the industry today.

"There is huge diversity between geographic areas and markets in terms of consumer preferences and behavior," he said. "In addition to continuous growth in voice communication, other industries like music and digital imaging are quickly becoming more integral to mobility."

Ollila described how the size, growth and dynamics of emerging markets are increasingly driving demand. He repeated the company's earlier statements that Nokia expects approximately 80% of the next billion subscribers to come from the emerging markets, and that Nokia expects the global mobile subscriber base to reach three billion during 2008.

Ollila also gave a revised estimate for mobile device market volume growth in 2006. "Due to strong subscriber growth, we have now updated our global mobile device market volume estimate for this year," said Ollila. "Nokia estimates that in the year 2006, the mobile device market volume will increase globally 15% or more from our estimate of 795 million units in 2005. Previously, we estimated that the global mobile device market volume would grow 10% or more this year from last year's estimate."

In concluding, Ollila spoke about what he expects from Nokia and the industry in the future. "I believe that Nokia is well placed for some new innovative leaps," he said. "We have seen the first era of an industry that I have no doubt will continue to transform for many years to come."

Nokia Corp. (NYSE: NOK)