Nokia Siemens Networks NSN will be renamed Nokia Solutions and Networks NSN following a $A2.7Bn Nokia acquisition of the half of NSN it does not own from Siemens.
NSN has ticked up $8Bn in losses over its first five years. Siemens, which had to tip in 1 billion Euro into NSN in 2011 as a result of the ongoing losses, has been looking to exit the business.
With over $19BN in annual revenue this year NSN has turned in a small profit on the back of big orders for 4G network kit and drastic restructuring involving 20% (56,000) staff cuts. Nokia obviously sees potential whereas Siemens has lots of other, more profitable, irons in the fire in its divese engineering empire.
Why such a low price Ray Le Maistre’s blog has some suggestions here.