Nokia Networks

Nokia Networks
Subsidiary of Nokia
Industry Telecommunications equipment
Founded 2007
Headquarters Espoo, Finland
Area served
 Worldwide
Key people
 Rajeev Suri (CEO)
Samih Elhage(CFO)
Products Mobile Broadband, consultancy and managed services, multimedia technology
Number of employees
 50,000 (2015) [1]
Parent Nokia
Website Nokia Networks

Nokia Networks[2][3] (formerly Nokia Solutions and Networks (NSN) and Nokia Siemens Networks (NSN)) is a multinational data networking and telecommunications equipment company headquartered in Espoo, Finland, and wholly owned subsidiary of Nokia Corporation. It started as a joint venture between Nokia of Finland and Siemens of Germany known as Nokia Siemens Networks. Nokia Networks has operations in around 120 countries.[4] In 2013, Nokia acquired 100% of Nokia Networks, buying all of Siemens' shares.[5] In April 2014, NSN name was phased out as part of rebranding process.[3][6]

History

The company was created as the result of a joint venture between Siemens Communications division (minus its Enterprise business unit) and Nokia's Network Business Group. The formation of the company was publicly announced on 19 June 2006.[7] Nokia Siemens Networks was officially launched at the 3GSM World Congress in Barcelona in February 2007.[8] Nokia Siemens Networks then began full operations on 1 April 2007[9] and has its headquarters in Espoo, Greater Helsinki, Finland.

In January 2008 Nokia Siemens Networks acquired Israeli company Atrica, a company that builds carrier-class Ethernet transport systems for metro networks. The official release did not disclose terms, however they are thought to be in the region of $100 million.[10][11] In February 2008 Nokia Siemens Networks acquired Apertio, a Bristol, UK-based mobile network customer management tools provider, for €140 million. With this acquisition Nokia Siemens Networks gained customers in the subscriber management area including Orange, T-Mobile, O2, Vodafone, and Hutchison 3G.[12][13][14]

In 2009, according to Siemens, Siemens only retained a non-controlling financial interest in NSN, with the day-to-day operations residing with Nokia.[15]

On 19 July 2010, Nokia Siemens Networks announced it would acquire the wireless-network equipment division of Motorola.[16] The acquisition was completed on 29 April 2011 for $975 million in cash. As part of the transaction approximately 6,900 employees transferred to Nokia Siemens Networks.

On 23 November 2011, Nokia Siemens Networks announced that it would refocus its business on mobile broadband equipment, the fastest-growing segment of the market. This refocus resulted in the restructuring of the company and the planned layoffs of 17,000 employees. The plan reduced the company’s work force by 23% from its 2011 level of 74,000, and helped the company trim annual operating expenses by $1.35 billion by the end of 2013.[17][18]

After the restructuring process, Nokia Siemens Networks brought in a positive turn around to its businesses. The bottom line and operating margins rose to approximately 10%, which was a significant shift from the previous sub-zero margins, with positive cash flows for six continuous quarters.[19]

On 7 August 2013, the company completed the acquisition of Siemens' stake and renamed as Nokia Networks. After this acquisition NSN became fully owned by Nokia.

On 29 April 2014, Nokia Corporation announced that NSN will henceforth be known as the Nokia Networks. It was also announced that Rajeev Suri, the CEO of NSN is appointed as President and CEO of Nokia Corporation, effective May 1, 2014.[3]

See also

References

  1. ↑ Nokia Networks - Employees
  2. ↑ http://nsn.com/legal
  3. 1 2 3 http://company.nokia.com/en/news/press-releases/2014/04/29/nokia-appoints-rajeev-suri-as-president-and-ceo-and-announces-new-strategy-program-to-optimize-capital-structure-and-leadership-team
  4. ↑ "Nokia Networks Fact Sheet". Nokia Networks. Retrieved 2015-05-01.
  5. ↑ Ewing, Adam (2013-07-01). "Nokia Buys Out Siemens in Equipment Venture for $2.2 Billion (4)". Businessweek. Retrieved 2013-08-05.
  6. ↑ http://www.lightreading.com/mobile/4g-lte/nokia-ushers-in-new-era-retires-nsn-name/d/d-id/708821
  7. ↑ "Nokia and Siemens announce joint venture". The Guardian. 19 June 2006. Retrieved 1 May 2012.
  8. ↑ "Nokia Siemens Networks". Identityworks. Retrieved 2013-08-05.
  9. ↑ "Nokia Siemens Networks starts operations and assumes a leading position in the communications industry". Nokia. 2007-04-02. Retrieved 2013-08-05.
  10. ↑ "Nokia Siemens Networks acquires Atrica, Ethernet systems company". Venturebeat. Retrieved 2008-10-28.
  11. ↑ "Nokia Siemens Networks Completes Acquisition of Carrier Ethernet Specialist Atrica". Nokia Siemens Networks. Retrieved 2008-10-28.
  12. ↑ "Nokia Siemens Networks Apertio Acquisition Press Release". Nokia Siemens Networks. Retrieved 2008-10-28.
  13. ↑ "Apertio Press Release on Nokia Siemens Networks acquisition". Apertio. Archived from the original on 13 March 2008. Retrieved 2008-10-28.
  14. ↑ "The Register article on Nokia Siemens Networks acquisition of Apertio". The Register News. Retrieved 2008-10-28.
  15. ↑ Eli Lake (April 13, 2009). "Fed contractor, cell phone maker sold spy system to Iran". The Washington Times.
  16. ↑ Nokia Siemens Agrees to Pay Cash for Division of Motorola
  17. ↑ O'BRIEN, KEVIN J. (23 November 2011). "Nokia Siemens to Cut 23 Percent of Work Force". The New York Times. Retrieved 2011-11-24.
  18. ↑ "Nokia Siemens to cut 17,000 jobs". 23 November 2011.
  19. ↑ "Nokia Siemens closer to becoming an 'independent entity'". http://www.fiercebroadbandwireless.com/. Fierce Broadband Wireless. Retrieved 26 April 2013. External link in |work= (help)

External links

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