This is about : Nokia to buy Siemens stake of NSN.
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Nokia to buy Siemens stake of NSN.
Nokia- the pioneer in mobile communication, has inked a deal to take over NSN (Nokia Siemens Network- a joint venture) fully, buying Siemens 50 percent stake for a hefty sum of $2.2 billion. The joint venture (est. in 2007) have started to make profit in recent months, coming from years of challenge in the intense competitive market. With the series of job cuts and market leader in LTE, NSN was showing a positive sign and this deal comes as a surprise. But it is already known that Siemens were discussing the sell out with other firms to shift their focus and the deal sum also comes cheaper than the expected price. Nokia once a global leader in handsets business and now standing in the bottom 10, has not been able to regain their sales in recent years despite their partnership with Microsoft for Windows OS. Lets see if this deal makes a significant change in the overall profit of the very popular company. And a curiosity for what will be the name of the OEM as NSN is already a hit among telecom pundits.
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