Nokia will have bigger presence in India
Will be among the top two in India both in handsets and wireless equipment
With Nokia's deal to buy out Siemens AG's stake in their joint venture Nokia Siemens Networks (NSN) for 1.7 billion euros ($2.2 billion), Nokia will have a bigger presence in India. It will be among the top two in India both in phones and wireless equipment.
Nokia India's revenues in 2011-12 were around Rs.120 billion and NSN's revenues around Rs.60 billion
Nokia is having problems competing in mobile phones. It has been overtaken by Samsung in India. During the first quarter of 2013, Samsung shipped 16% of phones in India while Nokia could only manage 15% for the same period, according to IDC.
Meanwhile, NSN has started to operate profitably after deciding to focus on its 4G LTE business and selling off assets like its optical networking business (which sold DWDM equipment) and its Business Support Systems unit.
In the first quarter of 2013 NSN's adjusted earnings before interest and taxes (EBIT) amounted to 196 million euros. "Nokia Siemens Networks has established a clear leadership position in LTE, which provides an attractive growth opportunity" Nokia Chief Executive Stephen Elop says.
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