Siemens plans to spin out mobile-phone operation
Siemens mobile phone division will spin out as a separate unit, according to Siemens plans revealed during quarterly results announcement. There have been speculations about Siemens mobile phone division for quite some time now due to poor financial results in the last year. It is not clear yet who the new company will partner with, although it was mentioned that it will seek solution with one or more partners along the value chain'. Siemens itself probably will not keep a majority stake in the business, although the new products will continue to be sold under the Siemens name.