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LG Interest in Siemens Mobile
Jan 20, 2005Since Siemens announced it plans to abandon the cell phone market, it has been accepting offers from rivals companies to sell off its mobile phone division. Perhaps the most interested may be Korean manufacturer LG Electronics; however there have been conflicting reports.
Initially German news source, WirtschaftsWoche, reported LG and Siemens were in ongoing negotiations regarding the sell off of Siemens' sluggish division. However LG released a response stating:
"We have never been in such talks with Siemens", "We have no interest in acquiring the Siemens handset unit".
With increasing competition and falling prices, Siemens has been slow to keep up. Plans for Siemens Mobile are still uncertain; however final decisions will be unveiled at the upcoming shareholders meeting on January 27.
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Originally posted by Allen Tsai for Mobiledia
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