BARCELONA, Spain and ESPOO, Finland -- After a successful first year that included a number of breakthrough contracts across the globe, Nokia's Services business unit has set its sights on further growth in 2006 as it helps operators cope with fierce competition and provides them with the right tools to differentiate their offerings and grow their business.

"We are proud of our achievements in our first year as a business unit. Thanks to significant double-digit revenue growth in 2005, Services now comprises over 30 percent of revenues in the Networks business group, and over one-third of Networks' personnel," says Bosco Novak, Senior Vice President for Services, Networks, Nokia.

"This solid foundation gives us a good start for 2006, and we are expecting growth especially in the areas of Managed Services, Consulting and Integration and Service Management. We remain committed to helping operators get the most out of their networks, and our business solution portfolio is second to none in the industry," Novak said on the eve of the 3GSM World Congress in Barcelona.

Seeking to tap close to 20 years experience in the Services business and better capitalize on the growing business trend, Nokia established its Services business unit in Networks at the start of 2005. Since then, it has notched a number of significant milestones including:

"This expanding Services footprint shows we are gaining ground and helping to unlock business value for operators by optimizing capital employed, reducing operating expenses, retaining subscribers, generating new growth and managing risks," Novak said.

Nokia Corp. (NYSE: NOK)