Nokia's proposed acquisition of Alcatel-Lucent took another step forward with its filing of a preliminary draft of a registration statement on Form F-4 with the U.S. Securities and Exchange Commission (SEC).
Nokia won't be jumping back into the smartphone business until the fourth quarter of 2016 at the earliest, but it is already preparing for its reentry by hiring software experts, testing new products and looking for sales partners, according to a Reuters report.
Alcatel-Lucent CEO Michel Combes will step down from his role on Sept. 1 as the vendor moves toward completing its deal with rival Nokia; the combined company is going to be led by Nokia CEO Rajeev Suri.
Nokia reported stronger sales overall in its core networking business and a strong increase in sales in North America. The company had its most profitable quarter overall since it sold its handset business to Microsoft in April 2014, according to Nokia CEO Rajeev Suri.
Alcatel-Lucent CEO Michel Combes said that there is strong pressure in the industry to have "5G" network products ready as soon as possible.
German auto maker Daimler said it expects to gain approval for tests of self-driving trucks on Germany's motorways "within the next few weeks", executive board member Wolfgang Bernhard told the Sunday edition of the Frankfurter Allgemeine Zeitung.
Nokia said on Friday it has received approval from the European Commission (EC) for its planned €15.6 billion ($17 billion) merger with Alcatel-Lucent, clearing an important hurdle in its pursuit of the rival telecoms equipment manufacturer.
A Nokia deal to sell its HERE navigation business to a consortium of German car makers for between €2.5 billion ($2.7 billion) and €3 billion is likely to move forward if the parties can agree on who would own key HERE patents following the sale.
Sprint has not yet announced its final plans for its "Next Generation Network" (NGN) network densification, but elements of it are starting to take shape. According to financial analysts who follow the carrier, the NGN program will include around 70,000 small cells, some unknown number of additional macro cell sites and will likely involve wireless backhaul technology using the 2.5 GHz band.
Nokia plans to announce a virtual reality project next week at an event in Los Angeles, according to a Re/code article, the most significant push into hardware since Nokia sold its devices business to Microsoft in April 2014. Word of the July 28 event first came last week.