Nokia Siemens Scores Massive Funding
Nokia Siemens Networks has received approximately $1.56 billion in new funding from a collection of European and U.S. banks. Citing a source familiar with Nokia Siemens' plans, Reuters reports that the company sought $1.96 billion in funding, but had to settle for the lesser amount due to current market conditions. Parent companies Nokia and Siemens last year said they would no longer contribute funding to the joint venture, which announced job cuts of 17,000 in November. Nokia Siemens has struggled to compete with rival networking gear makers.
Hands On with the Nokia 8
The Nokia 8 is the first flagship phone from the "new Nokia". What separates it from the rest of Nokia's current lineup is the dual-camera system with Zeiss lenses.
Audi, BMW, Daimler to Buy Nokia's HERE Maps
A consortium of three German automotive makers has agreed to purchase HERE Maps from Nokia for about $2.71 billion, according to the Wall Street Journal. Sources familiar with Nokia's plans say Audi, BMW, and Daimler (Mercedes) have fielded a winning bid for the mapping division, which Nokia put up for sale earlier this year.
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.
LG Agrees to Pay Nokia Royalties, But Rates Not Settled
LG has signed a patent-licensing agreement with Nokia over smartphone technology, but the companies have yet to agree on pricing for the patents. Nokia may have sold its handset business to Microsoft, but it retained many of the related patents for licensing purposes.