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Siemens to Sell Mobile Handset Operations
May 6, 2005
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German electronics maker Siemens is still in talks with a number of potential partners about the future of its loss-making mobile handset operations, according to a company spokesman who rejected reports that potential buyers had backed out of a deal. Talks were underway with several candidates and a decision was likely to be reached soon, the spokesman said.

The Frankfurter Allgemeine Zeitung said U.S. mobile phone maker Motorola had pulled out of talks to buy Siemens' mobile handset operations and that no other company was lining up to take over the business. The spokesman declined to comment on the report.

Siemens is currently losing around 1.5 million euros (approx. U.S. $1.9 million) a day on its mobile phone business, which booked an operating loss of 138 million euros (approx. $177.3 million) in the three months to March.

Siemens, which runs its business year from October to September, sold 9.3 million handsets in the second quarter, down from 12.8 million a year earlier. (AFP, Yahoo Finance)

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