Nokia Siemens Networks is changing its name to Nokia Solutions and Networks and is now known as NSN as from today (7 August 2013). The new name reflects NSN’s change of ownership following Nokia’s acquisition of Siemens’ entire 50% stake in the joint venture, which was announced on 1 July 2013 and completed today.
Nokia Solutions and Networks is now wholly owned by Nokia and will continue to be consolidated by Nokia. As previously announced, Rajeev Suri will continue as CEO and the NSN executive board will remain unchanged as a result of the transaction. Unveiling the new name, NSN renewed its commitment to driving leadership in the mobile broadband sector and to operating as a more independent entity.
“While our name and brand have changed, I would like to emphasize that our overall strategy and our focus on mobile broadband remain the same,” said Rajeev Suri. “Our customers will not notice any difference in our unstinting commitment to delivering superior technology and services across the world. Today’s announcement is, however, an exciting new chapter in our transformation story."
When announcing the transaction, Nokia stated its intention to “continue to strengthen the company as a more independent entity”. NSN, therefore, sees continuity and stability as major goals in the change of ownership, and is committed to pressing on with its strategy.
In a statement issued today, NSN pointed to its “strong profitability”, shown in Nokia’s Q2 results published on 18 July 2013. It said this “is testament to the success of that strategy and the increased efficiency of the company. As already reported by Nokia, NSN has delivered four consecutive quarters of strong profitability, positioning the company well for strong long-term leadership in the industry. The turnaround strategy, announced in November 2011, is therefore delivering solid results”.
NSN’s goal remains to develop profitable businesses with customers worldwide, deploying the ever-growing possibilities of universal connectivity and content.