Siemens Eyes Unit Sale

9:05 AM -- Siemens AG (NYSE: SI; Frankfurt: SIE) is in talks to sell its Enterprise Communications business.

According to this Reuters report, Siemens CEO Peter Löscher told a press conference in Germany that negotiations for the sale of the group are underway.

Siemens Enterprise Communications (SEN) sells VOIP gear, IP PBXs, campus mobile systems, phones, and lots of other gear to small, medium, and large companies.

It seems like Löscher doesn't think much of the communications industry's profit potential -- last month he expressed his dissatisfaction with the current performance of Nokia Networks , in which Siemens holds a 50 percent stake. (See Siemens Fined, Unhappy With NSN and NSN Products Face Further Cuts.)

— Ray Le Maistre, International News Editor, Light Reading

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