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    HomeNewsBusinessCompaniesNokia to buy Siemens' stake in NSN for $2.2 bn

    Nokia to buy Siemens' stake in NSN for $2.2 bn

    Nokia has been struggling to compete against Apple and Samsung in smartphones, the network gear maker NSN has been posting profits in the past few quarters

    July 01, 2013 / 13:39 IST

    Finnish mobile phone company Nokia said on Monday it has agreed to buy Siemens' stake in their joint venture Nokia Siemens Networks (NSN) for 1.7 billion euros.


    Also Read: Saudi Mobily in $650 mn financing deal with Ericsson, NSN


    While Nokia has been struggling to compete against Apple and Samsung in smartphones, the network gear maker NSN has been posting profits in the past few quarters.

    Nokia said it expected to close the transaction, subject to regulatory approval, during the third quarter of this year.

    first published: Jul 1, 2013 12:55 pm

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