Nokia Seeking To Patch Weak Spots With Acquisitions
Feb 24, 2006, 1:03 PM by (staff)
Nokia's new CEO today announced the company must be on the lookout for further acquisitions and partnerships. The handset giant will focus on acquisitions that will strengthen their weak areas - namely enterprise and multimedia applications and devices. Recently Nokia has begun to open its rather guarded gates. The company has made a few acquisitions of enterprise applications and announced it would spin off its CDMA unit into a joint venture with Sanyo.
Verizon Sees No More Big Spectrum Grabs In Its Future
Verizon today said it doesn't believe it will need to make any more large spectrum acquisitions following the results of the recent AWS-3 spectrum auction. Verizon netted 181 spectrum licenses at a cost of $10.4 billion.
Nokia Forges China Joint Venture to Win Alca-Lu Approval
Nokia has signed a memorandum of understanding with a China government-backed investment company called Huaxin in order to encourage approval of its proposed acquisition of Alcatel-Lucent. The acquisition has already been approved by U.S.
Nokia Issues Statement On Handset Plans
Nokia today issued a statement reaffirming that it will not manufacture cell phones. "Recent news reports [claim Nokia] communicated an intention to manufacture consumer handsets out of an R&D facility in China.
Nokia to Pare Down Its Technologies Unit
Nokia today said it intends to cut about 70 jobs from its Technologies unit. "Nokia Technologies has revised its long-term strategy and will consequently reshape [the] organization.