Nokia Siemens Network

After serving for more than a decade as President and CEO of Nokia and Nokia Siemens Networks, Rajeev Suri has stepped down, paving the way for Pekka Lundmark to wear his shoes in the global role, the company announced on Monday.

EU's trade chief is reportedly ready to drop an investigation into illegal subsidies to Chinese telecom equipment makers.

Nokia is considering buying US based network gear maker Juniper Networks to merge it with its NSN unit.

Jesper Ovesen joined NSN in September 2011, when it was a joint venture between Nokia and Siemens.

Nokia on Monday said the chairman of its networking equipment unit, Nokia Solutions and Networks (NSN), will step down following the sale of the Finnish company's mobile phone business to Microsoft.

NSN reported an operating profit of 136 million Euro (about USD 181.57 million) for the second quarter of 2013.

Nokia Solutions and Networks chief expects the roll-out of 4G wireless networks to pick up in Europe as operators seek to meet growing demand for faster wireless Internet.

The fully-owned Nokia subsidiary will now be known as Nokia Solutions and Networks, retaining the same acronym NSN.

Nokia paid Siemens 1.2 billion euro ($1.55 billion) in cash at the closing of the transaction and the remainder of about $650 million "will be paid in the form of a secured loan from Siemens due one year from closing," according to the July 1 statement.

Nokia is expected to unveil a new smartphone with a 41-megapixel camera on Thursday, banking on advanced optics to make up for meagre marketing resources and limited phone apps.

Nokia announced its intention to purchase Siemens' half of the 2007 joint venture, in a move to help bolster its struggling smartphone division.

Nokia could list the network business or boost its cash position by selling network equipment manufacturing.

While Nokia has been struggling to compete against Apple and Samsung in smartphones, the network gear maker NSN has been posting profits in the past few quarters.

The purchase price totals EUR 1.7 billion, of which EUR 1.2 billion will be paid in cash at the closing of the transaction.

Saudi Arabia's Mobily has signed a memorandum of understanding (MoU) with Nokia Siemens Networks and Ericsson to fund the purchase of $650 million of equipment from the firms, the telecom operator said on Sunday.

After serving for more than a decade as President and CEO of Nokia and Nokia Siemens Networks, Rajeev Suri has stepped down, paving the way for Pekka Lundmark to wear his shoes in the global role, the company announced on Monday.

EU's trade chief is reportedly ready to drop an investigation into illegal subsidies to Chinese telecom equipment makers.

Nokia is considering buying US based network gear maker Juniper Networks to merge it with its NSN unit.

Jesper Ovesen joined NSN in September 2011, when it was a joint venture between Nokia and Siemens.

Nokia on Monday said the chairman of its networking equipment unit, Nokia Solutions and Networks (NSN), will step down following the sale of the Finnish company's mobile phone business to Microsoft.

NSN reported an operating profit of 136 million Euro (about USD 181.57 million) for the second quarter of 2013.

Nokia Solutions and Networks chief expects the roll-out of 4G wireless networks to pick up in Europe as operators seek to meet growing demand for faster wireless Internet.

The fully-owned Nokia subsidiary will now be known as Nokia Solutions and Networks, retaining the same acronym NSN.

Nokia paid Siemens 1.2 billion euro ($1.55 billion) in cash at the closing of the transaction and the remainder of about $650 million "will be paid in the form of a secured loan from Siemens due one year from closing," according to the July 1 statement.

Nokia is expected to unveil a new smartphone with a 41-megapixel camera on Thursday, banking on advanced optics to make up for meagre marketing resources and limited phone apps.

Nokia announced its intention to purchase Siemens' half of the 2007 joint venture, in a move to help bolster its struggling smartphone division.

Nokia could list the network business or boost its cash position by selling network equipment manufacturing.

While Nokia has been struggling to compete against Apple and Samsung in smartphones, the network gear maker NSN has been posting profits in the past few quarters.

The purchase price totals EUR 1.7 billion, of which EUR 1.2 billion will be paid in cash at the closing of the transaction.

Saudi Arabia's Mobily has signed a memorandum of understanding (MoU) with Nokia Siemens Networks and Ericsson to fund the purchase of $650 million of equipment from the firms, the telecom operator said on Sunday.