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Nokia, Siemens to roll out joint venture product plans in February

Nokia, Siemens to roll out joint venture product plans in February

Finnish phone-maker Nokia Corp. and German industrial conglomerate Siemens AG said Monday they plan to unveil the product plan for their joint venture in early February, and expect the merger to close in the first quarter.
In June, Nokia Corp. and Siemens AG agreed to combine their network-equipment units in a joint venture to be called Nokia Siemens Networks. The new company is expected to generate $20 billion (euro15.5 billion) in sales.
The companies said they are still assessing their personnel needs, and still anticipate cutting 10 percent to 15 percent of the 60,000 employee base over the next four years.


Updated : 2021-02-25 19:36 GMT+08:00