Nokia confirmed today that Nokia Siemens Networks started its operations yesterday, with a commitment to working ethically.
The new company, owned by Nokia and Siemens, holds a top three position in the industry - based on 2006 pro-forma revenues of EUR 17.1 billion.
Nokia Siemens Networks has approximately 600 customers and operates in about 150 countries, and approximately 140 joint bids have been submitted since anti-trust approvals in November, in addition to the separate Siemens and Nokia activities.
At the launch, Simon Beresford-Wylie, chief executive officer of Nokia Siemens Networks commented that he wanted the company "to be known for operating with the highest standards of ethics and integrity,", presumably in response to the bribery scandal enveloping Siemens - which nearly caused the merger to wobble a few months ago.
Nokia Siemens Networks has five product business units - Radio Access, Broadband Access, Service Core and Applications, IP/Transport, and Operations Support Systems - that provide a full range of products and applications for fixed, mobile and converged networks.
Additionally, the new company addresses the growing demand for services through its Services Business Unit, which has some 20,000 professionals worldwide.
In 2006, the R&D team that is now part of Nokia Siemens Networks demonstrated the world's first Long Term Evolution (LTE) radio access solution. In fixed access, research teams were able to transmit data at a rate of 10 gigabits per second via an optical access network, which is four times faster than the rate previously possible.
Beresford-Wylie noted "As Nokia and Siemens said when announcing the new company on June 19, 2006, we will seek estimated cost synergies of EUR 1.5 billion annually by 2010 in order to build a strong, competitive Nokia Siemens Networks."
In terms of market outlook, over the last couple of months, there has been a narrowing of visibility and indications of a slowdown in spending in some regions.
As a result, Nokia and Nokia Siemens Networks are updating the outlook for the mobile and fixed services infrastructure market for 2007.
The companies now expect very slight market growth for the mobile and fixed infrastructure and related services market in euro terms in 2007. Previously, Nokia expected slight growth in the mobile and fixed infrastructure and related services market in euro terms in 2007.
From April 1, 2007, the financial results of Nokia Siemens Networks will be consolidated to Nokia."
Posted to the site on 2nd April 2007
Posted to: www.cellular-news.com/story/22936.php