HELSINKI - wireless devices is manufacturers Nokia Siemens Networks slash 17,000 jobs - almost a quarter of the workforce - in a step to annual costs to 1 billion € ($ 1.35 billion) by 2013 cut, company representatives said Wednesday.
The joint venture between Finland's Nokia Corp. and Siemens AG Germany, said that it mobile broadband networks and services would focus on how it down takes you to an independent company.
Nokia Siemens has fought for a prize in the fierce competition in the global market for network-infrastructure - the technology and services to run mobile and fixed network required.
"How we at the prospect of an independent future we need to act now look to improve our profitability and cash generation,", said CEO Rajeev Suri Wednesday.
Nokia in July fell Siemens to sell plans part of their business to private equity firms and said that it would take steps to improve competitiveness as a separate company.
Market observers had speculated that Nokia want to dispose of its stake in the loss-making venture and focus on the development of mobile phones in the new partnership with Microsoft Corp.
If Nokia lost market share to competitors, including Samsung and Apple's iPhone, it remains the world's largest mobile phone manufacturer.
The network joint venture, however, falls behind its competitors, and has shown annual operating losses since it began operations in April 2007.
In addition to traditional competitors such as LM Ericsson from Sweden said Nokia Siemens now strongly by Asian rivals such as China's Huawei and ZTE Corporation analyst Phil is challenges Kendall by Strategy Analytics.
"The Chinese have shaken the operational environment by selling originally cheap hardware, winning companies in this way but have now built up a credible reputation and become very competent technology provider", Kendall said. "All major traditional Western infrastructure manufacturers really had to work hard, to ward off the threat."
Last year, Nokia went ahead to Siemens the majority of Motorola Corp.'s wireless operations for $1.2 billion in a major boost of worldwide stronger foot and access to top American wireless carriers and cable companies, including ATT, Verizon Wireless and Sprint Nextel Corp, the technology infrastructure suppliers depend on.
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"We will continue to press network outsourcing, we focus offers, not so much on field maintenance" Suri said. "That we can use our global deployment and remote management of our Center in India and Portugal and turn to pick up these companies and make money."
Helsinki Stock Exchange jumped on the news, but by 2 percent to €4,09 ($5,48) at the closed Nokia shares.
Headquartered in Espoo, near the city of Helsinki, Nokia has Siemens employees in 150 countries.
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