Around the Net

Nokia Buys Motorola Ops

  • Reuters, Tuesday, July 20, 2010 12:48 AM
Nokia Siemens Networks will buy Motorola's telecom network equipment business for $1.2 billion, getting a stronghold in the North American market and taking No 2 position in the cut-throat mobile gear market. Nokia Siemens Networks -- a 50-50 joint venture of Nokia and Siemens -- has struggled to make a profit in the $82 billion market, which was hit hard by the recession.

Nokia Siemens Networks said it expects the deal to give it incumbent relationships with more than 50 telecom operators and to strengthen its position with major carriers like China Mobile, Clearwire, KDDI, Sprint, Verizon Wireless and Vodafone.

Read the whole story at Reuters »

Next story loading loading..