Nokia Siemens Networks (NSN) Changes Name to Nokia Solutions and Networks (NSN)
Published on: 7th Aug 2013
By: Ian Mansfield
Nokia has completed the previously announced acquisition of Siemens' 50 percent stake in Nokia Siemens Networks. The transaction was originally announced on July 1 2013.
In accordance with this transaction, the Siemens name is being phased out from Nokia Siemens Networks' company name and branding. The new name and brand is Nokia Solutions and Networks, also referred to as NSN, which will be used also for financial reporting purposes.
Nokia Solutions and Networks is wholly owned by Nokia and will continue to be consolidated by Nokia.
Rajeev Suri continues as CEO and Jesper Ovesen continues as Executive Chairman of the NSN Board of Directors. The NSN Board of Directors has been adjusted to the new ownership structure as the Siemens-appointed directors have resigned.
When announcing the transaction, Nokia stated its intention to "continue to strengthen the company as a more independent entity".
"While our name and brand have changed, I would like to emphasize that our overall strategy and our focus on mobile broadband remain the same," said Rajeev Suri, CEO of NSN. "Our customers will not notice any difference in our unstinting commitment to delivering superior technology and services across the world. Today's announcement is, however, an exciting new chapter in our transformation story."