Siemens Sells Mobile Division to BenQ
Jun 7, 2005, 9:04 AM by (staff)
Siemens today announced the sale of its mobile phone business to Taiwanese consumer electronics maker BenQ. The sale includes more than 6,000 employees worldwide and use of the Siemens brand name for five years. The deal gives BenQ access to markets beyond Asia, including Siemens strongholds in Europe and Latin America. The acquisition fits with BenQ's other consumer-oriented operations, and allows Siemens to focus on its strong commercial and industrial businesses. The deal is subject to approval by BenQ shareholders, and is expected to close in the fourth quarter of Siemens' fiscal year 2005.
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It's actually better this way, but...
Does Siemens get the name back? Do they have the ability to start another mobile phone division? Will Ben-Q need to change their name again at that point?
5 years huh?