Pros
Great benefits. Good work life balance. Good work atmosphere.
Cons
Lack of a clear sense of direction. No clear line of responsibility among middle management. Too many "decision makers" who don't actually make decisions. Attempting to reinvent the wheel every year making for terrible quality and complete lack of growth as all engineers end up doing is porting from one "next greatest platform" to another. Outdated tools - especially for version management, bug management. Too many people who have been with Nokia for years and years haven't worked much in other companies and believe they are the best and their way is the only way. Also makes for cronysim and people give good reviews to their buddies and newcomers are viewed with suspicion. Architect level people simply aren't of the calibre I have seen in previous jobs.