Nokia and Siemens announce telecom merger
Rumors of a merger between AMD and ATI
have been percolating over the past week, but the cell phone market underwent a
king-sized merger of its own today. Nokia and Siemens have shaken hands
on plans to combine
their telecom-related businesses in a joint venture dubbed Nokia
Siemens Networks. The venture will combine Nokia's network business
group and Siemens' carrier operations, and it is expected to rake in just
under $20 billion a year in revenues from a variety of offerings.
The company will offer a broad portfolio of fixed and mobile network
products and related services, including Next Generation Network
convergence products, including IP Multimedia Subsystems, 2G GSM/EDGE
access, 3G WCDMA/HSDPA access, [fixed-line] broadband, IPTV, WiMAX and
low-cost mobile voice products tailored for emerging markets.
Completion of the deal is expected to happen toward the end of the year, making the Finno-German venture into the world's third-largest
telecom infrastructure company behind Swedish Ericsson and