Why is it a turkey?
Nokia Siemens Networks obviously had good intentions when they joined forces together just a few short years ago: combine the collective minds of two very large telecom vendor giants into one more powerful company to compete against not only its European rivals, but the world.
This may have been a great idea at first. Flash forward to 2009 and many in both the Nokia and Siemens camp (Siemens proper does not even do anything in telecom anymore) have expressed that they now want out. And honestly, there's not much to blame them over wanting an exit out of the venture.
After another round of lower-than-predicted earnings in the third quarter, NSN's new CEO decided it was time to finally make a change. His solution: divide up the company into three logical units and, surprise, surprise, cut jobs.
Beyond the financial struggles the company continues to have, one of NSN's biggest fumbles, or rather missed opportunities in 2009, was the company's inability to expand its foothold in the North American telecom market. That's not to say NSN has not tried, and try hard--they did.
First up was their failed bid for Nortel's CDMA and LTE unit. The CDMA and LTE honor went instead to Ericsson who beat out the company for the unit. And here's the latest: news has come in this week that NSN lost out to Ciena in its bid for Nortel's Metro Ethernet Network and Optical divisions.