Espoo, Finland – August 7, 2013
- Telecoms networks specialist reaffirms focus on mobile broadband
- NSN sees rebranding as next chapter in transformation story
- Ownership change brings further stability, clarity and confidence in the future
Nokia Siemens Networks, the world’s mobile broadband specialist, today becomes Nokia Solutions and Networks and is now known as NSN. The new name reflects NSN’s change of ownership following Nokia’s acquisition of Siemens’ entire 50 percent stake, which was announced on July 1, 2013, and completed today. Nokia Solutions and Networks is wholly owned by Nokia and will continue to be consolidated by Nokia. As announced by Nokia, Rajeev Suri will continue as CEO and the NSN Executive Board will remain unchanged as a result of the transaction. Unveiling the new name, NSN renewed its commitment to driving leadership in the mobile broadband sector and to operating as a more independent entity.
“While our name and brand have changed, I would like to emphasize that our overall strategy and our focus on mobile broadband remain the same,” said Rajeev Suri, CEO of NSN. “Our customers will not notice any difference in our unstinting commitment to delivering superior technology and services across the world. Today’s announcement is, however, an exciting new chapter in our transformation story."
When announcing the transaction, Nokia stated its intention to “continue to strengthen the company as a more independent entity”. NSN, therefore, sees continuity and stability as major goals in the change of ownership, and is committed to pressing on with its strategy.
NSN’s strong profitability, shown in Nokia’s Q2 results published on July 18, 2013, is testament to the success of that strategy and the increased efficiency of the company. As already reported by Nokia, NSN has delivered four consecutive quarters of strong profitability, positioning the company well for strong long-term leadership in the industry. The turnaround strategy, announced in November 2011, is therefore delivering solid results
NSN’s goal remains to develop profitable businesses with customers worldwide, deploying the ever-growing possibilities of universal connectivity and content.
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Nokia Solutions and Networks is the world’s specialist in mobile broadband. From the first ever call on GSM, to the first call on LTE, we operate at the forefront of each generation of mobile technology. Our global experts invent the new capabilities our customers need in their networks. We provide the world’s most efficient mobile networks, the intelligence to maximize the value of those networks, and the services to make it all work seamlessly.
With headquarters in Espoo, Finland, we operate in over 120 countries and had net sales of approximately 13.4 billion euros in 2012. NSN is wholly owned by Nokia Corporation. www.nsn.com
Phone: +358 7140 02869