Nokia and Siemens announce telecom merger

— 10:04 AM on June 19, 2006

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 Franco-American Alcatel/Lucent.
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