The word on the street is that Siemens is looking for potential buyers to sell its communications business to and is currently negotiating with Motorola. Siemens Com, a massive $16 billion-per-year operation with 55,000 employees, is losing money each month. Motorola is said to be interested in Siemens Com's mobile-network business only. Siemens, on the other hand, wants to sell off its entire Com unit--the profitable cellphone business and the money-bleeding fixed line parts of the unit. Last year, Siemens Com exited the cellphone handset business, selling off that money-losing unit to Taiwan's BenQ for nearly $700 million. Recently some rumors have also surfaced that Siemens is in talks with Nokia. This signals that Siemens may want to exit the telecom business and stick with healthcare and power technologies, which generally produce more reliable earnings than electronic equipment.
To learn more about these latest rumors:
- check out TelecomWeb's article [1]
Links:
[1] http://www.telecomweb.com/news/1145300950.htm