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Nokia Siemens To Buy Motorola Unit For $1.2B

July 19th, 2010 07:53 admin Leave a comment Go to comments

sylverboss writes with news that Nokia Siemens is buying Motorola’s wireless networks division for $1.2 billion. “The deal gives Nokia — the world’s leading supplier of mobile handsets — an invigorated entrance to the US market where it has lagged far behind other handset suppliers.” According to BusinessWeek, “Motorola’s sale of the wireless-network unit prepares it for a broader restructuring. The company is planning to spin off its mobile-phone and set-top box operations into a company that will be led by co-Chief Executive Officer Sanjay Jha. The spinoff is on schedule for the first quarter, Jha said last month.”

Source: Nokia Siemens To Buy Motorola Unit For $1.2B

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