Struggling network infrastructure vendor Nokia Siemens Networks is planning to cut 17,000 jobs worldwide, as it aims to cut €1 billion (US$1.35 billion) from its costs by the end of 2013, the company said Wednesday.
Attention has been focused on the higher speeds that will be offered by next generation LTE (Long-Term Evolution) mobile networks, but improved latency will be equally important to users, according to Nokia Siemens.
The founding CEO of Nokia Siemens Networks has resigned and will be replaced by another long-term Nokia executive as the two-year-old company battles it out in a consolidating carrier-infrastructure industry.
Nortel Networks has entered into an agreement with Nokia Siemens Networks to sell its its wireless network infrastructure business assets for $US650 million, it said on Friday.