Pros
Exciting product. Nokia's reach means you have a chance to shape the future of the mobile/internet industries. The shear size of the organisation means there are plenty of opportunities to move around and experience different roles/businesses. I detected very little poltics and back biting where I was, although I get the impression things may be different in product development. Genuinely forward thinking organisation, continually looking to reinvent itself and move tthe market in new directions.. Aspirations to rival Google in the search/advertising market. Excellent work/life balance. Working from home/flexitime not a problem. Good, fairly well priced food. Nice offices.
Cons
Good at churning out fairly dull handsets in huge numbers, not so much at genuine innovation these days. The huge success of the iPhone has taken chunks out of the N-series cash cow. This may be changing, too soon to tell however. Decision making is by committee - takes a while to get things done. Not as agile as some of it's smaller rivals (as could be expected). Some new strategies (Ovi, N-gage) perhaps overly ambitious, and show signs of being dropped after massive investment. Time will tell I guess. Laid back management style is generaly a plus, although I get the feeling those who sit back will probably get away with it. Salaries are merely average (Nokia don't want people in it for the money).