Fate of Siemens mobile phone division still on hold
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German electronics giant Siemens had originally hoped to decide the fate of its mobile phone activities by the time chairman Heinrich von Pierer steps down at the group's annual meeting next week.
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Under mounting pressure from German government officials and former employees of the mobile phone division it paid BenQ to take off its hands, Siemens has set up a â¬35 million ($44.4 million) fund to aid workers at risk of losing their jobs.
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A defect in Siemens 65 series mobile phones could lead to failures in audio transmission, the company warned. Because of the software defect, when a phone call is cut off due to a low battery, the disconnection
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Siemens AG, Germany&#39;s biggest engineering company, denied it is in talks with potential venture partners for its troubled mobile-phone business, which sustained losses in the quarter through June.
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Shareholders of the companies keep waiting and waiting on a merger.
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Siemens AG continues to deepen its ties with Chinese rival Huawei Technologies Co. Ltd. The Munich-based engineering and manufacturing conglomerate agreed Friday to resell routers and switches from Huawei's Quidway product line just eight months after the two companies formed a joint venture for manufacturing new mobile broadband systems in China.
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Siemens has been working with Malaysia mobile-phone carrier Maxis since 1995 as a supplier of 2G/GSM mobile technology. As of June 2004, Maxis had 5.12 million customers, giving it over 40
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(InfoWorld) - Attempts to find an investor for bankrupt German mobile phone maker BenQ Mobile have failed, after the last potential buyer ended negotiations, the company's insolvency administrator said Sunday. "I now seeÂ no realistic chance to sell the entire companyÂ in one piece and enable a new start," Martin Prager said in an e-mailed statement. "We have to acknowledge that the market has decided against BenQ Mobile." The potential buyer wasn't disclosed. German electronics and engineering giant Siemens agreed to sell its money-losing mobile phone manufacturing business to Taiwan's BenQ Corp. in June 2005, due to disappointing world sales of its handsets and high product costs. But in August 2006, the new owner announced plans toÂ cease investmentÂ in the German sites after concluding they were uneconomic. After "intensive inquires and market analysis," the last potential buyer withdrew its interest in buying the company, conceding that a profitable continuation of the BenQ Mobile's handset business was "not realistic," Prager said. Other potential buyers, including Sentex Sensing Technologies and SF Capital, failed to deliver acceptable offers, according to Prager. They were unable to meet creditors' requirements for a convincing concept to continue the manufacturer's business, an adequate price offer and concrete evidence of secured financing, he said. Since October, Prager held talks with more than 100 potential buyers and entered into intensive negotiations with 30. In the coming weeks, the insolvency administrator plans an auction to sell BenQ Mobile's assets, including real estate, machinery, and patents. About 2,300 employees in the Munich and Kamp-Lintfort plants were moved to transfer companies at the beginning of the year. Â
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German engineering conglomerate Siemens  posted first-quarter profits that beat expectations but failed  to present a solution for its ailing mobile phones business on  Thursday.
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The Motley Fool - If things keep going the way they are right now, soon there won't be any North American options available when the next developing market needs to install current-generation cell phone infrastructure.
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MUNICH, Germany : German electronics giant Siemens said that financial burdens connected with a technical fault in its new mobile phone handsets were likely to reduce earnings in the final quarter of its business year ending in September.
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German electronics giant Siemens has no plans to delist its shares from the New York Stock Exchange, largely because it would be very difficult to do so, chairman Heinrich von Pierer said in a newspaper interview published.
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Cancelling pay rises Siemens' board voted this weekend to forgo a planned 30 per cent pay rise in order to set up a â¬30m hardship fund for workers affected by the closure of the German handset business it offloaded to BenQ last year.â¦
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FRANKFURT  - Siemens AG says more costs could be coming from a software problem with its new mobile phones that has led retailers to suspend sales.
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"Due to market changes and increasing requirements for cost-effectiveness, production of mobile devices in Germany is no longer feasible for Nokia"  Finnish phone maker Nokia Corp. said Tuesday it will close a manufacturing plant and automotive supply unit in Bochum, Germany, and was in talks to sell a research and development unit in Bochum to Sasken ... via SanLuisObispo.com
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After a public outcry over the collapse of BenQ's German mobile telephone making operations, electronics giant Siemens has sought to repair its reputation by cancelling a generous pay-rise for top managers and using the money saved to help BenQ's German employees instead.
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BERLIN The German engineering company Siemens said Thursday that its profit fell 10 percent in the fourth quarter as costly product defects led to losses in its mobile phone and train car businesses.