Siemens wants its Nokia Siemens Networks venture to turn a profit and find a way to compete more effectively against rivals such as Ericsson and Huawei.
Joe Kaeser, Siemens' finance director said that "the top priority for Siemens is increasing further the market share (of NSN)."
Although Siemens and its fellow partner Nokia had high hopes for the NSN when it initially created the venture in 2007, the venture has had a hard time turning a profit due to cuts in carrier spending and an inability to compete with lower priced products from Huawei and the growing presence of Ericsson.
Since last year, Nokia and Siemens have been looking at various options of what to do with the NSN venture, including holding an IPO or selling a piece of it to a private investor.
However, a number of sources revealed that neither Siemens nor Nokia were able to strike a deal with a partner that they felt had a benefit for both companies.
- Reuters has this article
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