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%

Choosing a cloud hosting partner with confidence

More from The Register

next story
Same old iPad? NO. The new 'soft SIMs' are BIG NEWS
AppleSIM 'ware to allow quick switch of carriers
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Brits: Google, can you scrape 60k pages from web, pleeease
Hey, c'mon Choc Factory, it's our 'right to be forgotten'
Of COURSE Stephen Elop's to blame for Nokia woes, says author
'Google did have some unique propositions for Nokia'
It's even GRIMMER up North after MEGA SKY BROADBAND OUTAGE
By 'eck! Eccles cake production thrown into jeopardy
Mobile coverage on trains really is pants
You thought it was just *insert your provider here*, but now we have numbers
Don't mess with Texas ('cos it's getting Google Fiber and you're not)
A bit late, but company says 1Gbps Austin network almost ready to compete with AT&T
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.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.