Nokia Acquires Panasonic Wireless Network Business

Nokia has announced a preliminary agreement with Panasonic to acquire part of its wireless network business in Japan. This is coming months after Nokia sold off its mobile business unit to Microsoft with the intent of focusing on providing network solutions. The Finnish company made approximately 5.5 billion euros when it sold its mobile division to Microsoft three months ago. Part of the funds is what Nokia would be spending to boost its presence in Japan with the Panasonic deal, which is expected to be completed by the end of this year. There is currently no financial value on the deal, but control over Panasonic’s System Networks base station and equipments for wireless control systems makes up the entire package. On completion of the deal, Nokia will control of one third of Japan’s mobile network market. We would update this article as soon as have something new.