Siemens to Spin Off Mobile Division
Last update:  28-04-05 Submitted by ahbao
Views: 2916 Home Industry News Latest News


Facing substantial losses, Siemens said Wednesday (April 27) it will spin off its mobile devices business. The move affects not only mobile handsets but also terminal equipment and devices.

The new mobile unit will retain the Siemens brand name. "Any future partnering option will always cover Siemens mobile phones," Siemens CEO Klaus Kleinfeld said. Siemens will soon introduce further cost reductions and new mobile phone models. The market has already reconsidered the mobile unit's position, concluded Kleinfeld, adding that the struggling division reported a positive book-to-bill ratio last month.

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