Nokia says Navteq asset writedowns risk reduced

In the early hours of March 12, Beijing time, a US Securities and Exchange Commission document showed that Nokia believed that the risk of writedowns on assets with a 8.1 billion dollar takeover of Navteq had declined. Nokia spent $8.1 billion in 2008 to buy Navteq, the world's largest digital map provider. Analysts believe that Nokia will face a certain amount of writedowns on the transaction risk. In 2007, TomTom, the world's largest navigation provider, acquired Navteq's rival Tele Atlas and subsequently carried out writedowns.　　That fact exacerbated analysts ' concerns. But Nokia said in its paper that the real value of the current Navteq is 15% to 20% higher than its book value. A year ago, Nokia considered the company's recoverable value to be 5% to 10% higher than its book value; two years ago, that figure was less than 1%. (Yan Fei)