Euronews: Cash Boost for NSN, Cuts at Nokia
Nokia Networks , Nokia Corp. (NYSE: NOK) and Alcatel-Lucent (NYSE: ALU) provide the cut and thrust in today's slice of EMEA telecom news.
Nokia Siemens Networks has appointed former TDC A/S (Copenhagen: TDC) man Jesper Ovesen its new executive chairman and received a €1 billion (US$1.36 billion) cash injection from its parents Nokia and Siemens AG (NYSE: SI; Frankfurt: SIE) as it strives to steady the ship and sort out its long-term strategy. (See NSN Gets $1.36B & New Leader and New Leadership, Cash Injection for NSN.)
It's another black day for the Nokia workforce as the ailing handset giant announces that a further 3,500 jobs are to go. The imminent closure of its manufacturing facility in Cluj, Romania and the knock-on effects of that closure on its supply chain operations will account for around 2,200 job cuts. Changes to the Location & Commerce unit will affect another 1,300 or so employees. (See Nokia Cuts 3,500 More Jobs, Nokia Lowers Outlook, Shares Slump , Nokia to Cut Jobs, Stay in Finland and Nokia Unveils Major Revamp.)
Over at the Broadband World Forum in Paris, AlcaLu Executive Vice President Philippe Keryer has been lamenting the largely laggardly nature of Europe's take-up of LTE, according to Reuters. "Europe is lagging behind ... Elsewhere, the LTE phenomenon has already begun," he said. (See Europe Set for LTE Laggard Status.)
South African operator Telkom SA Ltd. (NYSE/Johannesburg: TKG) suffered a slump in its share price of more than 5 percent today (Thursday) following a profits warning brought on by losses at its new mobile unit, reports Reuters Africa.
EE , the joint-venture offspring of Orange UK and T-Mobile (UK) , is bolstering its M2M (machine-to-machine) ambitions with the launch of a proprietary M2M management platform in partnership with Transatel . (See M2M Cranks Up a Notch, Ericsson's M2M Ambitions and Much Ado About M2M.)
There's harmony in the mountains as Swisscom AG (NYSE: SCM) and Vodafone Group plc (NYSE: VOD) announce the extension of their strategic partnership, which covers roaming arrangements and joint procurement, amongst other things. (See Vodafone, Swisscom Get it On.)
— Paul Rainford, Assistant Editor, Europe, Light Reading