Espoo, Finland - Nokia Networks today announced that it has entered into a memorandum of understanding to acquire part of the wireless networks business of Panasonic System Networks Company Limited. The agreement covers Panasonics mobile phone (LTE/3G) wireless base station system business for mobile operators and related wireless equipment system business.
The two parties plan to conclude the agreement by the end of September 2014, with expected closure scheduled on January 1, 2015, subject to customary closing conditions, including regulatory approvals. Under the terms of the agreement, fixed assets and business contracts with Panasonics customers are being transferred to Nokia Networks in Japan, including Panasonic employees involved in the business.
Japan is a key market for us, and this agreement is a major milestone in forging closer ties in Japan, said Ashish Chowdhary, Executive Vice President, AMEA, Nokia Networks. The acquisition of part of Panasonics wireless network business would further strengthen our mobile broadband portfolio and add significant value for Japanese operators.
Through this acquisition, Nokia Networks aims to reinforce and further improve efficiency and quality control for product development and R&D, as well as strengthen its market share for base station systems and related wireless equipment in Japan. In addition, Nokia Networks plans to leverage its extensive global experience and technical leadership in mobile broadband to grow its business in the acquired domestic carrier segment globally.
To share your thoughts on the topic, join the discussion with @NSNtweets on Twitter using #Nokia and #mobilebroadband.
FORWARD-LOOKING STATEMENTS
It should be noted that Nokia and its business are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements, including, without limitation, those regarding: A) expectations, plans or benefits related to Nokias strategies; B) expectations, plans or benefits related to future performance of Nokias continuing businesses Nokia Networks, HERE and Nokia Technologies; C) expectations, plans or benefits related to changes in leadership and operational structure; D) expectations regarding market developments, general economic conditions and structural changes; E) expectations and targets regarding performance, including those related to market share, prices, net sales and margins; F) the timing of the deliveries of our products and services; G) expectations and targets regarding our financial performance, cost savings and competitiveness, as well as results of operations; H) expectations and targets regarding collaboration and partnering arrangements; I) the outcome of pending and threatened litigation, arbitration, disputes, regulatory proceedings or investigations by authorities; J) expectations regarding restructurings, investments, uses of proceeds from transactions, acquisitions and divestments and our ability to achieve the financial and operational targets set in connection with any such restructurings, investments, divestments and acquisitions, including any expectations, plans or benefits related to or caused by the transaction announced on September 3, 2013 where Nokia sold substantially all of the Devices & Services business to Microsoft on April 25, 2014 (Sale of the D&S Business); K) statements preceded by or including believe, expect, anticipate, foresee, sees, target, estimate, designed, aim, plans, intends, focus, continue, project, should, will or similar expressions. These statements are based on managements best assumptions and beliefs in light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors, including risks and uncertainties that could cause these differences include, but are not limited to: 1) our ability to execute our strategies successfully and in a timely manner, and our ability to successfully adjust our operations; 2) our ability to sustain or improve the operational and financial performance of our continuing businesses and correctly identify business opportunities or successfully pursue new business opportunities; 3) our ability to execute Nokia Networks strategy and effectively, profitably and timely adapt its business and operations to the increasingly diverse needs of its customers and technological developments; 4) our ability within our Nokia Networks business to effectively and profitably invest in and timely introduce new competitive high-quality products, services, upgrades and technologies; 5) our ability to invent new relevant technologies, products and services, to develop and maintain our intellectual property portfolio and to maintain the existing sources of intellectual property related revenue and establish new such sources; 6) our ability to protect numerous patented standardized or proprietary technologies from third-party infringement or actions to invalidate the intellectual property rights of these technologies; 7) our ability within our HERE business to maintain current sources of revenue, historically derived mainly from the automotive industry, create new sources of revenue, establish a successful location-based platform and extend our location-based services across devices and operating systems; 8) effects of impairments or charges to carrying values of assets, including goodwill, or liabilities; 9) our dependence on the development of the mobile and communications industry in numerous diverse markets, as well as on general economic conditions globally and regionally; 10) Nokia Networks business dependence on a limited number of customers and large, multi-year contracts; 11) our ability to retain, motivate, develop and recruit appropriately skilled employees; 12) the pote
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Espoo, Finland - Nokia Networks today announced that it has entered into a memorandum of understanding to acquire part of the wireless networks business of Panasonic System Networks Company Limited. The agreement covers Panasonics mobile phone (LTE/3G) wireless base station system business for mobile operators and related wireless equipment system business.
