Nokia woes continue as it fails to sell off Nokia Siemens

Nokia Siemens Networks logoNokia's troubles worsened on Sunday after a new leak uncovered problems at its cellular equipment venture Nokia Siemens Networks. It has reportedly failed to sell a controlling stake in the company and is instead turning to reorganization to stop its bleeding cashflow. Under the plans divulged to the WSJ, both Nokia and Siemens would put money into NSN or else let the less unstable Siemens get control.

A buyout deal was still an option, but discussions with equity firms Gores Group LLC and Platinum Equity LLC were stalled where equal talks with a coalition group involving Kohlberg Kravis Roberts & Co. and TPG Capital had already died off. The alliance could buy a $3 billion footprint in NSN and help stem losses in the short term.

The problems with NSN have left Nokia with few options other than to refocus its already ailing phone business, whose smartphone business has collapsed in the four years since the iPhone and later Android arrived on the market. With losses of roughly $1 billion in the past year, NSN has been a drag on Nokia and doesn't necessarily have a ready fix. Rivals like Ericsson have been faring better, in part owing to their longer presences in the field.

Rumors have persisted that Nokia might sell off its core phone business but have mostly been dismissed when considering NSN's smaller size along with its losses.

Source: Electronista

Tags: Nokia, Siemens

Add comment

Your name:
Sign in with:
Your comment:

Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party

Last news

Users will be warned that the app is still in development and will be unstable
Nadella says Microsoft will focus on enterprise only
Bitcoin shrugs off Chinese regulations and bubble chatter to smash a new record
Facial recognition will be used for new notification options
The Exynos-powered Note8 are capable of capturing videos at 60fps, not just 30fps, but the software on them doesn't allow it
Perhaps it will be completely normal for us to have an environmental sensor in our smartphone
Microsoft isn’t committing to a precise release date as yet, but the end of this for sure
Almost 1,000 safety drivers have been licensed to sit in those autonomous test beds
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /

News Archive



Do you use microSD card with your phone?
or leave your own version in comments (4)