Nokia Looking to Buy Part of Panasonic’s Business Networks
Panasonic organization is a leader in the development of engineering and electronics technology. It has played an important role on customers whether the customers use the technology for residential, non-residential, mobility or for personal uses or applications.
The company was established in 1918 and since then it has expanded globally and now operates 500 companies across the globe with a net sales of 7.74 trillion yen at the financial year 2013.
In today’s world we are focused on three businesses-
- Software and hardware infrastructures.
- Services for software and hardware devices.
- Technology development and licensing.
Nokia the leading company is into all the three fields which they offer through Nokia technologies and Nokia networks. Nokia is one of the top and specialist in mobile broadband among other manufacturers or companies in the market. They operate with mobile technologies of each generation. Their global expert develops new technologies of customer need in today’s world.
NOKIA’S Purchase Of PANASONIC Wireless System
Finish telecom equipment maker Nokia Corp. Said that it is planning to acquire Panasonic’s third generation wireless base system business.
Nokia’s network arm has signed a memorandum of understanding to get a part of third generation wireless network business of a Panasonic system network company limited, Nokia said in its statement..
The agreement covers Panasonic’s mobile phone (LTE/3G) wireless base system for mobile operators and related wireless equipment system business it said in a statement. The two firms plan to conclude the agreement by the end of September this year.
The result of the deal is that the fixed assets and business contracts with Panasonic’s customer are being transferred to Nokia in Japan, including the employees. Nokia network executive vice president Ashish chowdary said” Japan is a key market for us, and this agreement is a major milestone in forging closer ties in Japan. It will also help strengthen Nokia’s market share for base station system and related wireless systems in Japan”. The transaction has been set for the approval and it is expected to close by 1st January 2015