Tag Archives: NokiaSiemensNetworks

Nokia buys controlling stake of Nokia Siemens Networks for $2.2b

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That didn't take long -- just hours after Bloomberg reported that Nokia was planning to buy out its German partner, the two firms have made it official: Nokia Siemens Networks is about to become a fully owned subsidiary of Espoo. The €1.7 billion ($2.2 billion) buyout will eventually see the Siemens name dropped from the network, naturally, though Nokia hasn't yet announced what the restructured entity will be called. The transaction isn't a complete surprise, of course -- earlier this year Siemens CEO Joe Kaeser told Dow Jones Newswires that 2013 was the year his company would help "NSN to move into a better place," announcing plans to separate from the partnership.

Kaeser continued the thought in today's announcement, calling Nokia's new acquisition as "an attractive opportunity to actively shape the telecom equipment market for the future and create sustainable value." Nokia head honcho Stephen Elop echoed the sentiment, speaking highly of NSN's recent financial growth and looking ahead to future ventures. Read on for Nokia and Siemens official press release, complete with quotes, statements and financial specifics.

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Source: The Next Web

Bloomberg: Nokia will buy Siemens’ share of joint venture for less than $2.6b

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Not all partnerships pan out, and Nokia seems ready to call it quits: according to Bloomberg, the company might announce a buy out of the German half of Nokia Siemens Networks later this week. Sources familiar with the matter say that the the Finnish firm is planning to use a bridge loan to finance the $2.6 billion purchase (less than 2 billion euros), taking the entire operation under its own wing. It's not a completely unexpected move on Nokia's part -- the company previously avoided selling off stake in the network back in 2011, opting to lean on its own shareholders instead. Bloomberg reports that Siemens has declined to comment on the issue, but we'll let you know if we hear anything solid.

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Source: Bloomberg

Nokia Siemens Networks hands business support division to Redknee, reaffirms focus on mobile broadband

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Nokia Siemens Networks hands business support division to Redknee, reaffirms focus on mobile broadband

There aren't too many surefire ways to get oneself focused in the business world, but completely detaching a corporation from a business division ain't a bad tactic. Just two days after Nokia Siemens Networks announced that it'd be selling off its optical business in order to focus on LTE, the firm has relinquished absolute control over yet another division. Dubbed a "planned acquisition" by Redknee CEO Lucas Skoczkowski, his company will be taking ownership of NSN's Business Support Systems. For Nokia Siemens Networks, it means 1,200 fewer employees to handle (they'll be moving to Redknee, not fired), and who knows how many saved headaches.

The division is presently responsible for providing "real-time charging, rating, policy, and customer care solutions to more than 130 communication service providers, including half of the top 100 global mobile operators." In other words, precisely the type of baggage you'd hope to drop if looking to "focus on mobile broadband," as stated by NSN CEO Rajeev Suri. Nothing like a little spring cleaning in December, huh?

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Via: ComputerWorld

Source: Nokia Siemens Networks

Nokia Siemens Networks sells off its optical business, swings focus to LTE

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Nokia Siemens Networks logo

Nokia Siemens Networks has long been eager to shed as much weight as it can (unfortunately, including some staff) in a bid to turn around a business full of legacy hardware. The next on the chopping block, however, is a big one: the optical networking division. NSN has struck a deal to sell the fiber-focused group to Marlin Equity Partners and spin it out as a separate company. While the price of the deal isn't public, we're glad to hear that the 1,900 workers affected by the shift should keep their jobs if the agreement closes as promised, in early 2013. NSN chief Rajeev Suri makes no bones about the handover's goal -- it's to let his company concentrate on LTE and other thriving businesses while giving the optical group a second chance through Marlin's investment, if all goes well. We're left with an NSN that's considerably smaller than what we knew from its glory days, but it could be worth the hurt pride if the company stays standing.

Continue reading Nokia Siemens Networks sells off its optical business, swings focus to LTE

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Source: GigaOM

Nokia’s Q2 2012 financials: 4 million Lumias sold, $1.01 billion dollar loss

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STUB Nokia's Q2 2012 announced

The past three months haven't been the best for Finland's former world number one. It hasn't been helped by the three biggest credit agencies lowering the company's bond rating to "junk," and the Lumia 900's violently slashed price. Unfortunately the latest results reveal continuing gloom: the manufacturer made an operating loss of $1.01 billion dollars for the quarter. The company managed to make €7.5 billion in sales ($9.2 billion, down .5 billion since the last quarter), shifting four million Lumia handsets in the process. In fact, the only cause for optimism is that sales of the Lumia range have roughly doubled each quarter.

The number of handsets pushed out the door increased (thanks to the Asha range of budget phones) with the company selling 73 million phones. That said, the company has clearly failed to crack America, selling a paltry 600,000 handsets in the States. The cash pile has also continued to dwindle, with the piggybank currently standing at €4.1 billion ($5.1 billion), down from $6.3 billion in Q1, despite getting a further $250 million in kickbacks from Microsoft. Unsurprisingly, the prediction for the third quarter of the year was similarly dour, summed up rather euphemistically as "difficult."

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Nokia's Q2 2012 financials: 4 million Lumias sold, $1.01 billion dollar loss originally appeared on Engadget on Thu, 19 Jul 2012 06:01:00 EDT. Please see our terms for use of feeds.

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