Business Nokia to buy Siemens share of Nokia-Siemens Networks

Business Nokia to buy Siemens share of Nokia-Siemens Networks

2013/07/01

Following on last week’s reports that Nokia had failed to sell its handset operation to Microsoft, it is now reported that Nokia has agreed to buy Siemens out of its share of Nokia-Siemens Networks.

Clearly Nokia CEO Stephen Elop prefers the relatively stable infrastructure part of the wireless industry to the super-competitive, highly volatile hand-set market.

It is reported that Nokia will pay €2 billion for Siemens’ 50% stake in the jv.

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