Feeds

LG sniffing round Siemens mobile phone biz

Cash injection, not deodorant, needed

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

South Korean firm LG Electronics is in the frame to buy Siemens' loss-making handset business, according to German business magazine WirtschaftsWoche, by way of newswire AFP.

Unnamed sources say the two companies are locked in talks over the future of the mobile phone business, which lost €140m (£97m) in the fourth quarter of 2004.

According to recent reports, Siemens will close its mobile handset division unless it can find a buyer for the loss-making business, which is the world's fourth biggest handset maker.

Chief executive Heinrich von Pierer is quoted as saying: "Either the situation has to be fixed or we have to find a partner for co-operation. We have to fix, close or sell."

NEC and Chinese manufacturer Ningbo Bird - both linked as possible buyers - have denied any interest in acquiring the business. A decision about the future of Siemens's mobile phone business is expected at the group's annual meeting on 27 January. ®

Related stories

Siemens mobile arm for sale or closure
China rejects Siemens phone business
World mobile phone shipments up 25%

Security for virtualized datacentres

More from The Register

next story
TEEN RAMPAGE: Kids in iPhone 6 'Will it bend' YouTube 'prank'
iPhones bent in Norwich? As if the place wasn't weird enough
Consumers agree to give up first-born child for free Wi-Fi – survey
This Herod network's ace – but crap reception in bullrushes
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
Sea-Me-We 5 construction starts
New sub cable to go live 2016
New EU digi-commish struggles with concepts of net neutrality
Oettinger all about the infrastructure – but not big on substance
PEAK IPV4? Global IPv6 traffic is growing, DDoS dying, says Akamai
First time the cache network has seen drop in use of 32-bit-wide IP addresses
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.