Nokia Siemens Chief Targets U.S. as Rivals Face Hurdles |
| Bloomberg - Nov 26, 2012 |
Nokia Siemens Networks, trying to sustain nascent sales growth in the cut-throat phone-equipment industry, is targeting the U.S. market where Chinese rivals face political hurdles and rising data use entices carriers to spend.
The venture owned by Nokia Oyj (NOK1V) and Siemens AG (SIE) is forgoing less lucrative deals in Africa and the Middle East to focus on the U.S., Chief Executive Officer Rajeev Suri said last week in an interview. In a shrinking global network-gear market, U.S. demand is rising as AT&T Inc. (T) and other carriers add capacity.
Suri, into his fourth year as CEO, is trying to find areas of strength for the venture that last month posted its first quarterly sales increase and profit since last year. Chinese rivals Huawei Technologies Co. and ZTE Corp. (000063), which have made gains globally, are struggling to win orders in the U.S. as the country’s officials advise against buying from them.
“The industry is a tough place,” Suri said in Munich. “The U.S. is certainly an opportunity so we’ll be there.”
Read Full Article from Bloomberg
- Posted: 2012-11-26 16:14:01
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