Siemens to hang onto mobile unit

Feb 01 2005 - 10:59 PM ET | Siemens

China Daily is reporting that Siemens will hold onto its money losing mobile phone unit. However, the final call may not have been made since the report quotes an anonymous source within Siemens: bq. "Our company is working on a reshuffle for the unit and new strategies will be introduced to help reverse the handset business," said the official who refused to be named. "We are not going to sell the unit, but are seeking co- operation," he said. Bird Co, LG, NEC and Motorola have all been cited in buyout rumors during the last several months. Siemens' mobile unit lost 143 million euros in Q4 2004.

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