Nokia, Siemens Failed in the Bid

Report from The Wall Street Journal reported on Sunday.

Both Nokia and Siemens failed to secure a deal for investors for a controlling stake in their unprofitable joint venture.

The German company need to do further negotiations and investigation. Because Nokia and Siemens’s problems about performance and financial need better integration.

"Any potential investor would need to see some light at the end of the tunnel with regards to profitability for NSN," Earl Lum, chief of telecom gear industry research firm EJL Wireless, told Reuters.

Siemens has been frustrated with its partner’s inability to find a solution and Siemens could take control of the joint venture.

It seems a big problem for them.


Comments are closed.