Nokia, Siemens to Merge Network Divisions
Anh Tuan Huynh
June 19, 2006 5:24 AM
comment(s) - last by
Say hello to Nokia Siemens Networks
Nokia Corporation and Siemens AG have
just announced a merger
between the network solution divisions of the respective companies.
The new company will be called Nokia Siemens Networks
and is a 50-50 joint venture between the communications service provider businesses of Nokia and Siemens. Such a company will have an expected annual revenue of $20B USD.
Nokia has traditionally held the largest market share in the mobile phone industry, with Siemens holding a distant 5th or 6th. Motorola, Samsung, LG and Sony Ericsson compose the rest of the top tier cell phone providers. BenQ, a recent major play in the cell phone industry, acquired Siemens's handset division recently as well. Both companies have recently branched out into the hiptop and PDA market, the new company will almost exclusively sell new devices for wireless convergence products -- a market that few of the other cell phone providers have scratched yet. Nokia's strong presence in the convergence market has paved the way for
such devices as the N-770
, currently slated to become the
Google hiptop of choice
Siemens and Nokia put out the following bullet points about the merger:
Companies form Nokia Siemens Networks with 2005 calendar year pro forma revenues of EUR 15.8 billion.
50-50 joint venture to consist of Nokia’s Networks Business Group and Siemens’ carrier-related operations for fixed and mobile networks.
Broad scale advantages, leading ‘quadruple play’ product portfolio and worldwide presence.
Market strength and leading position in fixed-mobile convergence.
Estimated cost synergies of EUR 1.5 billion annually by 2010.
Simon Beresford-Wylie to become chief executive officer and Peter Schönhofer to become chief financial officer.
Siemens has been relatively quiet lately with very few new product announcements unlike Nokia which seems to announce new products every other month. It is too early to predict what Nokia Siemens Networks has in store for its customers but most likely any new 3G compatible mobile devices will be
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RE: I really wish that submitter would RTFA for a change
6/19/2006 11:36:44 AM
Exactly ! The press release headlines are:
Nokia and Siemens to merge their
communications service provider
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