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Nokia and Siemens To Merge Network Units

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Jun 18, 2006, 9:15 PM   by (staff)

Nokia and Siemens are expected to announce a joint venture created with each of the companies' network equipment units. The new company will be headquartered in Finland and is to be headed by a Nokia executive, although ownership in the venture is said to be 50/50. The companies likely struck the deal to combine research expenses in network equipment, as well as to better compete against Ericsson and Lucent/Alcatel, which are both much larger than either company alone. Although Siemens is half owner of the new venture, its role in the cellular industry is waning. The company has sold off its handset business to BenQ and will have a smaller role than Nokia in this joint venture. This is Nokia's second joint venture of the year. In February Nokia announced it would merge its CDMA handset unit with that of Sanyo.

more info at New York Times »
more info at Wall Street Journal »

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