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Nokia and Siemens band together

by Jayvee on June 19th, 2006

Whoa waitamminute! What just happened? For both fixed and mobile networks, Siemens and Nokia have just merged on a 50-50 joint camping trip that will close in January of 2007.

So now we have Nokia-Siemens and BenQ-Siemens. Everyone wants a slice of Siemens, it’s just too seminal. Of course, the headquarters will be located in Finland, because it’s much cooler that way given how well Nokia is doing.

The companies are predicting cost savings of €1.5bn by 2010, which will mean “headcount adjustment” of 10 to 15 per cent of a total workforce of 60,000. Savings will also be made by combining R&D and other overlapping functions.

[read the source here]

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POSTED IN: Mobile Monitor, Nokia, Siemens