Boston, MA, 11/14/2013 (wallstreetpr) – Recently, the Chief Executive Officer of Nokia Corporation (ADR) (NYSE:NOK) said that the telecom equipment unit of the company known as Nokia Siemens Network is now only focusing on expanding and increasing the sales after putting years of concentration on trimming of costs. This is being planned to be done in order to increase and improve the sale margins of the company. After selling the loss making handset business to Microsoft, the Chief Executive Officer, Rajeev Suri is now making plans to increase and expand the business of the company.
In an interview on Wednesday, Rajeev Suri said that the company is still busy in analyzing and scanning the demand of the market. The cost cutting plans and programs include impressive restructuring plan which has been effectively implemented by the work force of Nokia Siemens Network during the entire quarter. Moreover, the company is also planning to ditch various unprofitable service contracts which have also helped in turning the Nokia Siemens Network viable.
The improved finances and cash of Nokia Siemens Network with the help of Microsoft Corporation deal has helped in providing the new Nokia Corporation ammunition. Moreover, according to the information made available from a source, Nokia Corporation was also considering of purchasing the wireless business belonging to French Competitor Alcatel Lucent.
The Nokia Siemens Network is a joint venture of Nokia and Siemens. This network or merger helped in getting more than 90% of sales. It managed to book an essential profit for the sixth quarter in the 3 months. But the net sales in the quarter dropped by 24% as compared to the last year.
The Chief of Nokia Siemens Network is expecting that the operators of Europe would also start investing which would be led by Vodafone’s Project Spring investment program valued at $11.2 billion.
