Nokia, Siemens joint venture on telecoms kit

Nokia and Siemens have agreed to combine their mobile and fixed-line phone network equipment businesses in a joint venture to be called Nokia Siemens Networks.

With annual revenues of €15.8bn it will compete with industry leader Cisco Systems and the newly merged Alcatel-Lucent. Industry comment was generally downbeat, pointing to Nokia’s lack of track record in fixed-line and the need to innovate rather than out-scale the competition.

The following two tabs change content below.