Electronics Production | December 04, 2009
Siemens withdraws from Nokia Siemens Networks
Siemens’ CFO Joe Kaeser has announced that the German company will withdraw from the joint venture Nokia Siemens Networks. Nokia may also consider exiting the JV.
"We have made it clear that we will not take over the JV after the current contract expires", the Siemens-CFO was cited in a Standard article in saying. However, the phrasing is rather interesting – suggesting that Nokia is also thinking about exiting the joint venture after the 2013 deadline. Otherwise, I simple ‘we will not renew the contract with Nokia’ would have done.