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Telecommunications EC gives green light to Nokia Siemens Joint venture
Telecommunications EC gives green light to Nokia Siemens Joint venture | EC gives green light to Nokia Siemens Joint venture |
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| by Stuart Corner | |
| Tuesday, 14 November 2006 | |
  
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CEO designate of Nokia Siemens Networks, Simon Beresford-Wylie, welcomed the decision, saying "While there are notifications still pending in some countries, based on this decision we are optimistic that the merger can be closed within the timetable anticipated by both parties [for the JV to start up in January 2007]." According to Beresford-Wylie, "Nokia Siemens Networks will have the scale and broad product portfolio necessary to compete globally...We will be well-positioned to help our customers meet the challenges of lowering costs, growing revenue, and seizing the opportunities presented by converging technology." The two companies claim the JV will have a leading position the market for equipment and services to address fixed-mobile convergence. It will have around 60,000 employees. Nokia and Siemens say it will be the second largest company in mobile infrastructure, second in services, third in fixed infrastructure, and the third largest in the overall telecommunications infrastructure market. The company's portfolio will include next generation network convergence products like IMS, 2G GSM/EDGE access, 3G WCDMA/HSDPA access, extensive mobile core, fixed broadband, transport, IPTV, LTE, WiMAX and low-cost mobile voice products tailored for emerging market operators.{moscomment} |
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