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Siemens plans to close its mobile division

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According to Daily telegraph UK the giant German industrial conglomerate - Siemens – plans the closure of its mobile phone division. Siemens is the fourth-largest mobile phone manufacturer in the world, with a 7.6 per cent market share. In the third quarter of 2004 it sold nearly 13 million handsets. But despite its size Siemens Mobile has struggled to make profits and lost ˆ140 million (183 million USD) in the fourth quarter of 2004. The final decision will be announced at Siemens annual meeting, which will be held on January 27. Possible buyers for Siemens Mobile include NEC, the Japanese group, and Ningbo Bird, a Chinese conglomerate.

 

source:

Daily Telegraph UK

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