wo!This one is hot!
Ericsson beware!Nokia Corp. and Siemens AG are going to combine their telecommunications network equipment units in a joint venture with annual revenues of euro 15.8 billion(nearly $20 billion)
It's a move designed to help the entity compete with market leader Ericsson AB and attract new customers.The new entity will be called Nokia Siemens Networks and will comprise of Nokia's networks and Siemens' carrier related operations.
The wave of consolidation began last october when Ericsson agreed to buy Marconi Corp.'s broadband Internet and telecommunications assets for 1.2 billion pounds.
By April,Paris based Alcatel launched a $13.4 billion stock swap to acquire Lucent Technologies Inc.
Ericsson is currently top maker and seller of the network equipment used by wireless providers to send phone calls , downloads and data to and cell phone and other devices.
Ericsson beware!Nokia Corp. and Siemens AG are going to combine their telecommunications network equipment units in a joint venture with annual revenues of euro 15.8 billion(nearly $20 billion)
It's a move designed to help the entity compete with market leader Ericsson AB and attract new customers.The new entity will be called Nokia Siemens Networks and will comprise of Nokia's networks and Siemens' carrier related operations.
The wave of consolidation began last october when Ericsson agreed to buy Marconi Corp.'s broadband Internet and telecommunications assets for 1.2 billion pounds.
By April,Paris based Alcatel launched a $13.4 billion stock swap to acquire Lucent Technologies Inc.
Ericsson is currently top maker and seller of the network equipment used by wireless providers to send phone calls , downloads and data to and cell phone and other devices.