Nokia Gets Rid Of Wireless Modem Unit

Posted: Jul 7 2010, 2:32pm CDT | by , Updated: Aug 12 2010, 12:16am CDT, in News | Mobile Phones

/* Story Top Left 2010 300x250, created 7/15/10 */ google_ad_slot = "8340327155";

Buy This Now On Amazon

Nokia has sold off one of its least profitable divisions, the division that sold wireless modems, to focus more on its core business and get rid of some dead weight.
Renesas Electronics, a fellow European technology company, has purchased the modem business from Nokia for $200 million. The entire division, including 1100 employees, will be transferred over to Renesas.

The two already had an existing business relationship. Renesas previously licensed some of Nokia's modem technology in its own products.

Despite having licensing agreements with multiple other companies, Nokia was losing money on its modem division. That's because there are other firms that have encroached on the market, and Nokia has more concerns on the phone industry.

The deal was announced this week but it won't be finalized until the end of the year.

This story may contain affiliate links.


Find rare products online! Get the free Tracker App now.

Download the free Tracker app now to get in-stock alerts on Pomsies, Oculus Go, SNES Classic and more.

Latest News


The Author




comments powered by Disqus