Despite firm denials from HQ, the industrial group Siemens seems unable to quell continued industry chatter that it will dump its 'strategic' relationships with Nokia and Fujitsu. In a renewed effort to bring some calm, CEO Peter Loescher stated that the joint venture with Nokia was proceeding well.
Regardless, insiders with Siemens are reported to have indicated that the performances from both of these partnerships are falling below par and are likely to come under the spotlight as the company plans a huge restructuring for January 2008. What the company has confirmed is that its corporate telecoms unit, SEN, is for sale but has found no interest after 12 months.
The company reported another quarterly loss--€74 million for its fourth quarter, although it was able to state rapid revenue growth, particularly in the Asia-Pacific region.
- see this BusinessWeek article about Siemens earnings