Siemens has 'nothing to announce' yet on fate of mobile phone division
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German electronics giant Siemens has nothing to announce just yet regarding the fate of its mobile phone activities, chairman Heinrich Von Pierer said.
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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.
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After last year&#39;s reports of exploding batteries in Nokia phones and amid growing concern about electromagnetic radiation from wireless devices in general, Siemens warned recently of a software defect in a range of mobile phones that could cause hearing
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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 alleged bribery scandal surrounding the German conglomerate Siemens may scupper a planned tie-up with Finnish telecommunications equipment maker Nokia, according to a German newspaper report.
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German phone maker Siemens could see a dent in its mobile handset sales and may post a loss in the unit after it halted sales of faulty models that could cause hearing damage, it says.
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TOKYO (CBS.MW) -- Deutsche Telekom AG&#39;s top executive has ruled out acquisitions or increased investment for its US Mobile phone business after a Sprint-Nextel merger, according to a published report Tuesday.
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The planned merger of network infrastructure units at Nokia and SiemensÂ won't close by the end of this year as expected because the companies will execute a compliance review of Siemens, spurred by the corruption investigation currently shaking the German technology company.
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Freescale Semiconductor Chairman and CEO Michel Mayer will leave his posts as soon as a replacement is found, the company said Friday.&quot;The time is right for me and my family to take some time off before exploring new challenges. The company is well positioned to continue its transformation,&quot; Mayer said in a statement.Freescale officials didn&#39;t respond to requests for comment.Mayer led the company when it spun off from Motorola&#39;s semiconductor group and went public in 2004. He also played a role in Freescale&#39;s buyout by four private equity firms in 2006 for $17.6 billion. The equity firms included The Blackstone Group, The Carlyle Group, Permira Funds and Texas Pacific Group.However, the company has been struggling financially, posting a loss of $525 million on sales of $1.54 billion in the fourth quarter of 2007. For 2007, the company reported a loss of $1.6 billion on net sales of $5.7 billion. Freescale&#39;s sales totaled $6.36 billion in 2006.The company&#39;s key customer remains Motorola, to which it sells chips for wireless handsets, networking infrastructure and other devices such as set-top boxes. Motorola, which is struggling financially and saw a management shakeup in recent months, is considering spinning off its handset business. Ed Zander announced in December that he would step down as Motorola&#39;s CEO.
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The enterprise networks unit at Siemens announced a line of desktop phones as the company continues to try to find a buyer for the operation and faces an investigation of German workers at its companion telecommunications equipment unit.
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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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Siemens AG tried Sunday to blunt fierce criticism from politicians, labor unions and the media for unloading its mobile phone business on a Taiwanese company which has failed to keep it afloat.
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Siemens' telecommunications unit will undergo a compliance review, setting back its proposed merger with Nokia's networks group until early next year.
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The handset maker is still having trouble turning its business around. The billionaire now has to decide what he will do.
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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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Rumors are swirling that the next massive wireless merger is in the works.
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German engineering conglomerate Siemens  posted first-quarter profits on Thursday that beat  expectations, but it failed to present a solution for its  ailing mobile-phones business or a clear full-year outlook.