Nokia and Siemens: Exciting the Market

The CEOs of the two telcos talk about their new joint venture, cultural differences, saunas, and what each can learn from the other

On June 19, Helsinki-based Nokia (NOK)and Munich-based Siemens (SI) announced they would combine their units that make equipment for telecommunications networks into a new 50-50 joint venture, Nokia Siemens Networks. If it goes as planned, the new company—with projected annual sales of $20 billion—will be in a better position to build market share in Asia and cope with technological shifts that are blurring the line between wireless and land line networks.

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