Nokia and Siemens today announced that they will combine their telecommunications network equipment units in a joint venture, a move to help them compete with market leader Ericsson.
Photo: Nokia and Siemens to Merge Mobile Networks Photo 1
The new venture, called Nokia Siemens Networks, which combines Nokia's Networks unit and Siemens' carrier-related operations, had 2005 pro forma revenues of 15.8 billion euros and 60,000 employees. Based on current market share data, it will be the second largest company in mobile infrastructure, second in services, third in fixed infrastructure, and the third largest in the overall telecommunications infrastructure market.
Nokia Siemens Networks will be able to offer its operator customers a comprehensive portfolio of fixed and mobile network products supported by a full range of professional services. The company's portfolio will include Next Generation Network convergence products like IMS, 2G GSM/EDGE access, 3G WCDMA/HSDPA access, extensive mobile core, fixed broadband, transport, IPTV, LTE, WiMAX and low-cost mobile voice products tailored for emerging market operators.
New entity will be headquartered in Nokia's home country of Finland, but owned on a 50-50 basis by both corporate parents.
The sad thing: 10-15% of these 60.000 employees might lose their job within the next 4 years.
They have a chance they won't get fired but get a job in another part of the companies.
But I say: some will lose their job, I guess up to 8%.
2. Posted by mgoblue
Wed Jun 21, 2006 12:54 pm
this is networks right? siemens sold their mobile divison to benq, no?
3. Posted by Bjoern
Wed Jun 21, 2006 5:27 pm
Only network, and yes, BenQ has the mobile division of Siemens (If I remember correctly for 1 Euro).
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