Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Nokia Networks on Monday completed the acquisition of part of Panasonic’s wireless network operations.
The deal, struck in July, covers Panasonic’s LTE and 3G base station business and related mobile equipment, its fixed assets and business contracts, as well as 300 employees. Financial terms were not disclosed.
Nokia said the transaction will improve the efficiency and quality control for its product development and R&D, and increase its share of Japan’s mobile infrastructure market. It also described Panasonic as one of the most trusted brands in the Japanese telco market.
“With this acquisition, Nokia Networks will single-handedly contribute towards the domestic and overseas business of Japan’s operators, and also benefit from synergies in terms of efficient product operations and focused R&D efforts,” said Ashish Chowdhary, chief business officer at Nokia Networks, in a statement.
The acquisition comes at a time of cautious optimism at Nokia Networks. Original post at Total Telecom