Feeds

LG sniffing round Siemens mobile phone biz

Cash injection, not deodorant, needed

  • alert
  • submit to reddit

Designing a Defense for Mobile Applications

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%

HP ProLiant Gen8: Integrated lifecycle automation

More from The Register

next story
Scotland's BIG question: Will independence cost me my broadband?
They can take our lives, but they'll never take our SPECTRUM
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Bring back error correction, say Danish 'net boffins
We don't need no steenkin' TCP/IP retransmission and the congestion it causes
NBN Co adds apartments to FTTP rollout
Commercial trial locations to go live in September
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.