Nokia buys Siemens out of networking joint venture

NSN was established as a joint venture in 2007, bringing together Nokia's Networks Business Group and Siemens' fixed and mobile networks operation. Nokia Siemens Networks has since focused on mobile broadband technology and services. NSN will be operated as a subsidiary of Nokia, with Rajeev Suri continuing as ceo. Stephen Elop, pictured, Nokia's president and ceo, said: "NSN has established a clear leadership position in LTE, which provides an attractive growth opportunity. Nokia is pleased with these developments and looks forward to continue supporting these efforts to create more shareholder value for the Nokia group." Siemens will now focus on what it calls its 'core areas' – energy management, industry, infrastructure and healthcare.