NSN, Moto Deal Gets Clearance

Nokia Networks is having a busy news day as the infrastructure vendor continues to be the subject of (old) rumors about new investments and new owners. (See Nokia Siemens Seeks Cash.)

The bastard child of Nokia and Siemens had its acquisition of Motorola Inc. (NYSE: MOT)'s assets approved by Chinese regulators, and it turned a small profit in the first quarter. Here is a link list for both news items to give you a catch-up on Thursday's happenings:

Chinese regulators approve sale of Motorola assets to Nokia Siemens.

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NSN reports a (non-IFRS gross) profit of €854 million (US$1.2 billion), which is up slightly from the year-ago quarter but down 18 percent compared to the €1.04 billion ($1.5 billion) it reported in the final quarter of 2010.

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— Phil Harvey, Editor-in-Chief, Light Reading

DCITDave 12/5/2012 | 5:06:54 PM
re: NSN, Moto Deal Gets Clearance

Just wanted to make it clear that the news link we posted that said NSN turned a profit was referring to NSN's pro forma numbers, which don't give a complete picture of the firm's ill health. The company continues to lose money but it lost less than it did in the year-ago quarter.

Sorry if that caused any confusion.

From the release:

Nokia Siemens Networks first quarter 2011 reported operating loss was EUR 142 million, compared with a reported operating loss of EUR 226 million in the first quarter 2010 and a reported operating profit of EUR 1 million in the fourth quarter 2010.

JeddChen 12/5/2012 | 5:06:48 PM
re: NSN, Moto Deal Gets Clearance

A very good solution has reached for the involed three parties. It is a good example for building a good ecosystem among the competitors and cooperators.

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